advertisement advertisement advertisement Another huge batch of supplemental stimulus checks are being distributed to Americans whose tax situation changed significantly between 2019 and 2020, the Internal Revenue Service said this week. advertisement The so-called plus-up payments were first announced at the beginning of this month and continue to go out in weekly batches. According to the IRS, the latest batch of Economic Impact Payments included more than 730,000 new plus-up payments, totaling some $1.3 billion. If the checks were sent via direct deposit, they should already be in your bank account with a payment date of Wednesday, April 28. However, many of these payments were sent via the United States Postal Service and will arrive as paper checks. Those could take a few weeks. How do you know if you’re eligible for a plus-up payment? Basically, if you already received a smaller stimulus payment based on your 2019 tax returns, and … [Read more...] about IRS stimulus check update: Am I getting a ‘plus-up’ payment? New details if you’re still waiting
advertisement advertisement advertisement Sally Bahner was livid when her washer and her dryer, both less than four years old, broke and required hundreds of dollars in repairs, so she knew exactly what she was going to do with her third stimulus check : Buy new ones. advertisement advertisement Her Branford, Connecticut, home now boasts a new set by Speed Queen that comes with a five-year warranty and costs a little over $2,000—about 85% of the $2,400 her household received. The 71-year-old freelance writer is hardly the only stimmy recipient to spend the money on improvements instead of indulgences (or, put another way, to at-tweet Bob Vila instead of Balenciaga ). A new Harris Poll conducted exclusively for Fast Company finds that 58% of Americans eligible to receive the third stimulus check have spent or plan to spend at least some of the funds on home improvement or repairs. Of that group, 11% are putting all of … [Read more...] about A lot of people are spending their third stimulus checks on home improvements
advertisement advertisement advertisement The helpful people at Omni Calculator have struck again, this time with a Child Tax Credit Calculator . Rather than wasting your precious mind on parsing the income thresholds of the American Rescue Plan Act, you can simply type in your numbers and see how much to expect from Uncle Sam this year. advertisement The calculator is one of several pandemic options that Omni has created in recent months, with the aim of saving you from complex legislation lingo and loopholes. It follows Omni’s calculators for the second and third stimulus checks. Child Tax Credit Calculator Signed into law in March, the American Rescue Plan expanded the child tax credit in numerous ways. Families who claim it can receive up to $3,000 per child age 6 to 17 this tax year. We are fans of Omni, which creates hundreds of calculators ranging from the wonky (see the Price Elasticity of Demand Calculator and the … [Read more...] about Child tax credits and stimulus checks for 2021 are not confusing with these handy calculators
advertisement advertisement advertisement The Internal Revenue Service has so far delivered more than 163 million payments as part of the third round of stimulus checks that were authorized by President Joe Biden in March. But before the first checks went out, people were already anticipating a fourth one. advertisement advertisement Since the middle of March, search interest in fourth stimulus checks has increased steadily, data from Google Trends shows, with the relative volume of searches building throughout the month of March and hitting a peak at the end of April. Even more telling is where those searches are proving most popular. Over the last 90 days, West Virginia showed the highest proportion of searches for fourth checks, with a search interest of 100. This was followed by Mississippi with 81, Arkansas with 74, Kentucky with 65, and Oklahoma with 64. Google measures search interest on a scale of 0 to 100 based on … [Read more...] about Are you hoping for a fourth IRS stimulus check? Here’s where you have the most company
advertisement advertisement advertisement It’s been a brutal year for American families, but in the long run, the pandemic may be a turning point away from two generations of American families crushed by childcare and education bills. Hallelujah. advertisement advertisement President Biden will formally unveil his American Families Plan in a speech to Congress this evening, and his proposal includes keeping parts of the March American Rescue Plan in action long-term. It’s a smart strategy: Voters will not be keen on relinquishing benefits they’ve grown accustomed to this spring. Here’s what’s staying and what’s not: Child Tax Credit Biden’s new plan extends the child tax credit through 2025. Parents who earn up to $75,000 as individuals or $150,000 as couples would receive $3,000 for children ages 6-17 and $3,600 for children under age 6. The credit is paid as a monthly payment from the Internal Revenue Service. It … [Read more...] about Stimulus update: Which payments and benefits are going to be made permanent in Biden’s plan?