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Stimulus Check: What You Need To Know About 2021’s Final Child Tax Credit Payout

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Stimulus Check: What You Need To Know About 2021’s Final Child Tax Credit Payout

The United States Internal Revenue Service (IRS) is scheduled to roll out its last Child Tax Credit for this year to benefit millions of families across the country.  

Child Tax Credit  

The initial portion was distributed to qualified families back in July. This carried on as the federal government brought hundreds of dollars every month for the rest of 2021. The credit’s worth ranges from $250 to $300 per month for each child of families who are qualified to receive it, Silive reported 

This was part of the so-called American Rescue Plan amounting to $1.9 trillion penned into law by U.S. President Joe Biden. Further, it is intended to facilitate the country’s rebound from the ongoing Covid-19 pandemic.  

That said, the last installment of payment is scheduled to be released this December 15 Wednesday.  

Still haven’t received it?  

Folks who haven’t gotten any of the past payments can request a payment trace from the IRS to check on their current standing despite being qualified for it. The waiting time before filing such a request will depend on whether the payment is set to arrive through a mailed check or direct deposit.  

Revenue Service will automatically send the advanced monthly payments through direct deposit straight into bank accounts registered on file. The rest of the eligible families will be getting the payment via check.   

In the event that the direct deposit is still not reflected on the bank account five days since the supposed deposit date, these folks can file the payment as mentioned above trace. For those who opted mailed checks, four weeks will be the usual waiting time before filing a payment trace. As for those who registered a foreign address, they’ll just have to wait a bit longer, which is nine weeks.  

An estimated 36 million eligible American families are bound to get the Child Tax Credit as this has been increased from $2,000 per child to $3,600 per child annually. It was learned that these households would be getting $3,600 for every child that is aged six and below. Each child aged between six and 17 will be receiving $3,000.  

Meanwhile, parents who still have dependents aged 18 to 24 are still eligible to get such financial aid, though they will have to wait until they file their taxes to get the funds.  

Households usually get their financial relief automatically provided that they’ve filed their tax returns in the years of 2019 and 2020 and registered to get stimulus checks.  

Check if you’re eligible  

Per the White House, the criteria for getting the child tax credit include Households who are making up to $150,000 as a couple, $112,500 for parent filing as head of the family, and $75,000 for single parent filing.  

As for the dependents, 17 years old and below are qualified for the program, not to mention that they must be U.S. citizens with a valid Social Security number. Additionally, it’s also necessary that these dependents have lived within the said household for at least six months within the same year.   

Nonetheless, the Revenue Service pointed out that temporary absences by either the child’s parent for “special circumstance” like medical care, vacation, school, business, juvenile facility detention, or military service are still counted and deemed as time spent together.  

Lastly, children born before the end of the current year are also eligible for the Child Tax Credit.  

California News

Inflation And Bills Surge – US Seniors Call For Stimulus Checks

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Inflation is a growing concern that has made even the basic amenities quite expensive and out of reach for many. Continuous rise in the prices of fuel, food, and other basic necessities is a concern for both working individuals and seniors. Seniors have called for stimulus checks on this red-hot inflation with the continued bill surge.

Stimulus Updates: Many Americans Will Receive $5,000 Soon

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Bills Surge And Inflation Are Ever Rising

In a report by The National Interest, Americans are facing high inflation even in 2022. The Consumer Price Index is skyrocketing rapidly year after year, making a hole in the pockets of commoners.

CNBC reported that approximately 20% of Americans struggled to pay their energy bill in full at least once during the last year. Fuel oil is roughly 40% more expensive than last year, electricity prices have risen by 6.3%, and natural gas prices have risen by nearly 25%.

This rise in fuel and energy prices has forced around 18% of Americans to keep their house at a temperature considered unhealthy and unsafe. Additionally, around 28% of Americans were forced to skip the necessities due to the inability to pay off the bills.

Struggle Of Seniors Is Still Here

Seniors who rely on Social Security for a living are bearing several issues due to rising energy prices. Beneficiaries did receive good news last fall when the Social Security Administration approved a 5.9% cost-of-living adjustment (COLA) for this year, which will increase Social Security payments by about $90 on average.

However, some experts believe that raises are still insufficient in the current environment.

On this dire issue the Social Security and Medicare policy analyst, Mary Johnson, for the Senior Citizens League, stated, “Social Security benefits have lost nearly one-third of their buying power, 32 percent, since 2000, about the length of a typical retirement.”

Need And Demand Stimulus Checks

Based on the various issues stated, the Senior Citizens League has been on its tiptoes and campaigning for months with the help of the petitions to get approval for the fourth round of the Stimulus Checks. The demand is to directly get $1400 in the accounts of the Social Security Recipients.

In addition to this one petition, six more stimulus check petitions are circulating with an estimated five million signatures.

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California News

California’s Golden State Stimulus Check Program – Beat The February Deadline

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It does not seem realistic that many hopeful Americans will receive further stimulus checks or payments from the Federal government in the United States of America. However, according to The Sun, stimulus payments in the form of the Golden State Stimulus programs are still being sent out to eligible Californians this year. Read on for more information on these stimulus programs as well as eligibility criteria.

To begin, under the first program – the Golden State Stimulus I program residents were eligible, and received, $1,200 and $600 respectively. According to the Golden State Stimulus II program, eligible Californian citizens received $1,100 stimulus payments issued up until January 2022. Let’s look at eligibility for these two programs.

Taxpayers Will Now Have To Go Through Facial Verification For IRS Login

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Golden State Stimulus Eligibility Criteria

Here are the qualifying criteria:

  1. You must have filled your 2020 Tax Returns.
  2. Be either an ITIN tax filler and made $75,000 or less, or A Californian Earned Income Tax Credit recipient.
  3. Resided in California for at least half of 2020 Tax year.
  4. You must have been a Californian resident on the date your payment was issued.
  5. Cannot be claimed as a dependent by another taxpayer.

Individual Tax Identification Number

An ITIN or ‘Individual Tax Payer Number’ is allocated to those who don’t have social security numbers or qualify for them and allows them to work in the state of California. The deadline for Californian residents to submit their tax returns for 2020 was on October 15, 2021. However, it is still possible to get a stimulus check or payment from the state.In fact, some 100,000 citizens are set to receive automatic stimulus payments from these programs in the next month. This is because citizens might still have been waiting for an ITIN number after the end of this deadline. If this might be the case you will be given extra time to file your taxes for this period. This will determine how much stimulus aid you are eligible for or qualify for.

Meet The February Deadline

You can apply for the Golden State Benefits stimulus payments – by using your ITIN number to file your tax returns before February 15, 2022 (as mentioned earlier) and if you have met all criteria you should then receive such payments after you file your tax returns for this period. Remember this is only in two weeks’ time – don’t miss the deadline!

 

 

 

 

 

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California News

California Suspends 345,000 Disability Claims Suspecting Fraud

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The California employment development department suspended 3,45,000 disability checks after finding out that almost all of those claims were made by criminals trying to dupe the state into paying them, reports Abc7.com. 

In addition, about 345,000 claims were found to be associated with 27,000 practicing doctors, out of which the state has verified the identity of only 485 doctors, meaning that the rest of the disability claims are fraudulent. 

Many Workers Who Lost Their Jobs During The Pandemic Are Still Unemployed

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Since the pandemic broke out, the employment development department has been plagued by fraudulent claims, especially in unemployment benefits. Researches depict that the state paid out $20 billion due to these false claims, starting from March 2020.  

The state takes initiatives to prevent any further fraud

The ABC7 report adds that criminals have stolen inhabitants’ identities to dupe state officials to pay them unemployment benefits. They are also using doctors’ credentials to register false disability claims. To eliminate fraudulent claims from the roots, the state has installed the latest software to verify the identities of applicants before accepting their claims. However, the department faced difficulties trying to distinguish legitimate claims from fraudulent ones. Currently, the state is sending the doctors an email from a registered government account asking them to verify their identity by using a computer program called ID.me. 

Problems arising due to this scam 

A lot of people had their claims suspended, even though they were true while the state was sorting things out. According to Cal Matters, Erik Robles, aged 35, went on disability last December and had his payments stopped. When asked, the department said there’s nothing they can do.  

 A couple from California, Alex Silva and Patricia has not received state disability checks since November without any explanation from the department. As a result, they have lost their car insurance and internet and television services. They fear they are soon going to be homeless.  

The state officials have informed the couple about doing some paperwork for their identity verification. As of now, the couple hasn’t received any paperwork yet. The state officials have denied revealing the various verification processes to prevent fraudsters from tricking them any further.

 

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