In this episode of the Planned Solutions Incorporated Podcast, Predictions for US economic growth in 2021 are about 6% or nearly double the long-term trend level. This is largely due to three factors that are likely to support the economic growth rate. First, there is the continued economic recovery that started in 2020 and continued into 2021. Second, the American Rescue Plan Act passed this year will add $1.9 trillion of stimulus in the short term. Third, as more people are vaccinated and economic restrictions are removed it may result in increased spending.

Also, the IRS has announced that it will be making corrections to 2020 tax returns based on the CARES Act and American Rescue Plan Act changes to the 2020 tax law. The IRS asked taxpayers to wait for the IRS to make the corrections rather than submitting an amended tax return which could delay the amount of time to process a refund.

And,The IRS has extended the tax filing deadline to May 17th for 2020 individual tax returns. In the process, the IRS also extended the time that taxpayers have to make contributions to traditional IRAs, Roth IRAs, and Health Savings Accounts (HSAs) to May 17th. This gives taxpayers another month to make contributions that may decrease their current or future tax liabilities.

Plus a look at the Planned Solutions Incorporated Office Bulletin Board-With so many people being vaccinated, we are optimistic that we will be able to have a more normal charity golf tournament this year. So, we have made reservations for the tournament, dinner, silent auction, etc. in the hopes that we will be able to safely gather once again. As a result, the Harlan D. Wood Memorial Cancer Charity Golf Tournament is scheduled for early September. Please mark your calendars if you will be able to attend.

Date: Friday, September 10th, 2021

Location: Rancho Murieta Country Club – North Course

7000 Alameda Drive

Rancho Murieta, CA 95683

Time: 12:30 pm shotgun start with dinner to follow

All profits go to cancer research and education. You can help by attending the tournament or donating. Not golfing? Bring friends and attend the BBQ.

Chase Armer's book- Financial Planning Insights is now available at:

store.bookbaby.com/book/financial-…anning-insights

www.amazon.com/Financial-Plannin…1586894022&sr=8-1

To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail [email protected]

The Personal Finance Review is published and distributed on a biweekly basis by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action.

Planned Solutions, Inc.

ADDRESS: PHONE:

1130 Iron Point Road, Suite 170 (916) 361-0100

Folsom, CA 95630 (800) 750-2111

E-MAIL: FAX:

[email protected] (916) 361-0191

WEB SITE:

www.PlannedSolutions.com

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