The 2020 child tax credit can increase your refund up to $1,400 for each kid that's age 0-16The new 2021 child tax credit can increase your refund by:$3,600 for each kid age 0-5$3,000 for each kid age 6-17Instead of waiting to file your tax return to receive the money, the IRS will front you 50% in monthly payments from July to December. Monthly Payment Amounts:$300/mo for each kid age 0-5$250/mo for each kid age 6-17So if you have one kid that's age two and another kid that's age 16, you will receive $550/mo. The monthly payment you will receive is based on your kid's age as of 12/31/2021.So if your kid turns 6 in 2021, you will receive $250/mo. If your kid turns 18 in 2021, you will receive nothing. Now, remember that the IRS is only fronting you half. The other half you will get when you file your 2021 tax return in 2022.If you do not want the monthly payments, you can opt out through an IRS portal that is expected to be released in June of 2021.With the new child tax credit, you can choose to have one large payment in 2022 or several small ones through 2021 and the other half in 2022.

CDC says fully vaccinated people don’t need to wear face masks indoors or outdoors in most settingsThey will still need to wear masks on airplanes, buses, trains, and other public transportationIf a business still requires you to wear a mask you will have to still wear a maskPeople will be considered fully vaccinated 2 weeks after receiving their second vaccination shotHow will they know who’s vaccinated and who’s not?I am not quite sure, yet but Vaccination certificates, apps, and color-coded masks are some ideas being talked aboutThe purpose of the CDC announcement is to encourage more people to get vaccinated

The White House just announced a partnership with Uber and Lyft to offer free rides to vaccination sites until July 4th. Lyft said they will be giving out a "ride code" by May 24th.The goal is to have 70% of the population vaccinated.There are now 8 states rejecting the extra $300 payment for the unemployment Alabama, Arkansas, Iowa, Mississippi, Missouri, Montana, South Carolina, and Tennessee.Georgia might be next.They are saying that the money encourages people to stay home rather than get a jobThe other side is saying that ain't trueThe main reason why people are not returning to work is that jobs refuse to pay a fair wageSo I did some research And the U.S. national average hourly wage for someone who works in food or as a cashier is $11.80 or $1,888/mo. So in your opinion do you think it’s because of unemployment or unfair wages why people are not returning to work?

Gov. Newsom just announced a $75.7B budget surplusWith this extra money, they are planning to send two-thirds of their residents ANOTHER $600 stimulus checkThey also are planning to double rent relief with the goal of getting 100% of all back rent paidThey also going to pay off people utility bills, water bills, gas and electricity bills If passed this will be the biggest state tax rebate in US history.California said they are able to do all of this because taxes paid by rich Californians who generally did well during the pandemic

Today the IRS announced that some people may have to amend their tax returns to receive their full unemployment refundYou see when you make a certain amount of money on your tax return, you are not allowed to claim certain tax credits such as the Earned Income Tax CreditBut let’s say your income drops by $10,200 and all of sudden it makes you eligible to claim these credits The IRS says you are going to have to amend your tax return to receive these creditsThe IRS is recommending that you use the EITC Assistant tool to see if you qualify The IRS also announced that today they started sending out a fourth batch of the 3rd stimulus checks mainly to those on SSI and SSDI Today the IRS also announced that they will be sending out a firth batch of the 3rd round of the stimulus checks on April 14, mainly to those that receive VA benefitsIf you still not received your refund, the IRS said you could be waiting till the summerIf you were self-employed on or before Feb. 15 2020. I strongly advise you to apply for the PP

Experts are saying that Americans only need two more $1,400 stimulus checks, not monthly. Experts are also reporting that the U.S. economy is starting to bounce back. 916,000 jobs were added in March. The IRS announced that they are not taxing the first $10,200 of unemployment benefits But there were 13 states that still will tax unemployment benefits Here are the States Colorado, Georgia, Hawaii, Idaho, Kentucky, Massachusetts, Minnesota, Mississippi, North Carolina, New York, Rhode Island, South Carolina and West Virginia.

Biden is now considering canceling up to $50,000 in student loansBiden does not know if he can just legally snap his fingers and wipe away student loansThere’s a lot of laws and laws can get confusingSo Biden asked the Big Boss in the Education Department Miguel Cardona, to prepare a memo for him outlining what he can and cannot legally cancelOnce Biden receives the memo he announced that he will then make a decisionThe memo is expected to reach Biden in the next couple of weeks

Blue is begging Biden to include monthly stimulus check in his next stimulus packageWell they aren’t really begging but they did they send Biden a letter nicely askingThe support for monthly stimulus checks is growing in the SenateToday the IRS announced that they will start issuing unemployment refunds in MayIf you were self-employed on or before Feb. 15 2020 I strongly recommend you apply for the PPPThe deadline to apply is May 31st