Money Today That Matters Tomorrow
Millions of families and households got use to getting a monthly dependent payment from the IRS in the second half of 2021. This payment, known as the advance child tax credit, was generally claimed via tax return filings in prior years. As part of Biden’s ARPA stimulus bill to provide …
On November 15th, 2021, President Biden signed a $1 trillion infrastructure bill into law. Officially named the Infrastructure Investment and Jobs Act, this bill contains a wide variety of measures intended to stimulate the economy, make improvements to the infrastructure system (think transportation systems, telecommunications networks, utilities, etc.), and provide …
Wherever you stand on the COVID-19 vaccination debate, there is little doubt that after January 4th the updated White House Guidelines around mandatory vaccinations will hit unvaccinated workers personal finances -whether they stay with their employer or quit. With more than 745,000 Americans having died from COVID and over 70,000 …
While Biden’s Build Back Better (BBB) bill has proposed funding that will allow the expanded child credit to be paid in monthly installments in 2022 it has been held up in Congress as Sen. Joe Manchin of West Virginia is refusing to endorse the CTC extension and overall bill without limiting the payment to …
The 2022 tax year will be quite different from 2021 given the number of expiring provisions, which will see reduced refunds for many Americans in 2023. This article will cover some of the main tax changes, so you don’t miss out on any of the major tax credits or deductions …
The SSA released the final figure for the 2022 COLA increase which affects nearly 70 million Americans collecting social security and SSI benefits. The 2022 raise was 5.9%, which translates to an extra $92 in retirees’ average monthly benefit next year. It was nearly 5 times last years increase. See …
Most people dream of living a comfortable life without worrying about money. Though many people see this as lofty dreaming about yachts and summer homes, more and more people are turning these ideas into an achievable reality and gaining financial independence at a staggering rate. Financial independence means that you’re …
[Updated with latest developments] President Biden and the Democrats have finally passed a scaled down version of the BBB act, known as the Inflation Reduction Act (H. R. 5376). Key provisions include: Medicare Savings: Introduction of a $2,000 annual cap on Medicare recipient contributions to prescription spending. This gives seniors …
The Biden Administration has now confirmed that they won’t extend federally funded unemployment benefits past the September 6th expiration date. They are instead encouraging states with high unemployment or hit hard by COVID-19 Delta to use existing ARPA stimulus funding to extend and expand traditional state unemployment benefits for as …
With federal unemployment benefits expiring after the week ending September 4th in states that didn’t end pandemic benefits early, many are asking what will happen to their active claim balance if they have weeks left after the expiry date. The answer unfortunately is that active balances under the PUA and …
In response to ongoing delays in making timely unemployment benefits payments, California’s Unemployment Agency – The Employment Development Department (EDD) – has announced that it will begin paying unemployment insurance benefits for claimants whose payments have been pending for at least two weeks. While this currently only being done for …
As the COVID-19 Delta variant spreads rapidly across the US many are worrying about the economic impact from additional regulations, state/national safety mandates and business reopening delays. But even of more concern to millions of jobless or under-employed Americans, still recovering from the pandemic induced slow down, are the end …
Like millions of American households, I got my monthly advance CTC payment deposited in my bank account today! For most this is awesome news because there were genuine concerns that there could be long delays with the IRS making these ARPA funded payments. You can see more on the Advanced …
[December 2022 update] Despite attempts by Democrats to restore the CTC to expanded pandemic levels, it is unlikely a funding bill will be passed before the end of the year. As a result the CTC will return to pre-pandemic levels and can only be claimed via your tax return filing. …