The Internal Revenue Service (IRS) has identified over 1 million taxpayers who missed out on claiming the Recovery Rebate Credit on their 2021 tax returns. In response, the IRS is now distributing approximately $2.4 billion in special payments to ensure eligible individuals receive the stimulus funds they were entitled to. Here’s what you need to … Read more
Families across New York are set to benefit from Governor Kathy Hochul’s proposal to significantly expand the state’s Child Tax Credit. This initiative boosts financial support to up to $1,000 per child under four and $500 per child aged four to sixteen, providing much-needed relief to families amid rising living costs. If approved, this expansion … Read more
In January 2025, the Canadian government will provide a $1,660 one-time extra payment to eligible Canada Pension Plan (CPP) recipients. This measure aims to help seniors and other beneficiaries cope with the rising cost of living and inflation. Knowing the payment schedule, eligibility criteria, and how to optimize your benefits is essential to make the … Read more
In January 2025, Canada’s Old Age Security (OAS) program will increase its maximum monthly payment to $1,615, offering greater financial support to seniors. This includes the Guaranteed Income Supplement (GIS) for low-income seniors. Whether you’re already receiving OAS or planning for retirement, knowing this boost, its eligibility requirements, and how to maximize your benefits is … Read more
The Internal Revenue Service (IRS) is issuing automatic Economic Impact Payment (EIP) refunds to eligible taxpayers who missed claiming the Recovery Rebate Credit on their 2021 tax returns. This initiative, announced in December 2024, is a part of ongoing efforts to provide financial relief stemming from the COVID-19 pandemic. Here’s everything you need to know … Read more
If your wallet is still reeling from the holiday season, the next few weeks might bring some welcome financial relief. The IRS is set to distribute payments of up to $1,400 to nearly one million taxpayers. Here’s a breakdown of who qualifies, what steps you might need to take, and the larger economic policy changes … Read more
In recent weeks, social media has been buzzing with claims about a new $1,000 stimulus check being distributed to Americans in November and December 2024. This claim, popularized by a viral Facebook video, has sparked excitement and confusion. The video alleges that the government is issuing these checks to alleviate rising credit card debt. But … Read more
Canada’s federal government is stepping up to support low-income seniors with an extra $1,200 payment through the Canada Revenue Agency (CRA). This initiative aims to help seniors manage their expenses amid rising inflation and cost of living. If you’re a senior citizen, read on to know more about this extra payment, eligibility criteria, and how … Read more
Centrelink has introduced a $1,500 payment to assist victims of domestic violence, as outlined in the 2022/2023 Budget. This initiative aims to alleviate the financial burden faced by individuals escaping violence, providing immediate support to aid in their transition to safety and stability. Approval The $1,500 Payment by Centrelink addresses the critical needs of domestic … Read more
In recent news, the Federal Government of Canada announced a significant financial boost for low-income seniors. The Canada Revenue Agency (CRA) will provide an additional $1,200 to eligible seniors. This move aims to alleviate financial pressures on retirees, helping them manage rising living costs. Benefits The CRA offers various financial aids to seniors, including the … Read more