IRS struggles to fill jobs, deal with backlog through difficult tax season accountingtoday.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from accountingtoday.com Daily Mail and Mail on Sunday newspapers.
Many workers eligible for the tax break had already filed their returns by the time President Joe Biden signed the $1.9 trillion relief bill in mid-March.
The IRS is automatically sending tax refunds to such people (who essentially overpaid their taxes) starting in May.
It s unclear how many taxpayers will get a refund and what share of them are married. Roughly 40 million people collected unemployment benefits in 2020, according to the Century Foundation.
It s also unclear when the second phase of payments will start. I have faith the IRS will be able to accomplish this in a relatively timely manner, Janet Holtzblatt, a senior fellow at the Urban-Brookings Tax Policy Center, said. It will just take more work to get to that point.
We Are Dangerously Close To The Tipping Point – Investment Watch investmentwatchblog.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from investmentwatchblog.com Daily Mail and Mail on Sunday newspapers.
Every dollar that the federal government borrows and spends puts us even closer to a day of reckoning.
Many Americans (especially those on the left) seem to think that we can endlessly spend trillions upon trillions of dollars without ever suffering any consequences. If that was true, why hasn’t any other society in all of human history ever been able to do such a thing? Unfortunately, the truth is that the United States is not immune to the laws of economics. Wildly creating money and driving up our national debt to absurd heights is inevitably going to crush our economic system. And at this point, our debt-to-GDP ratio is already higher than Greece’s debt-to-GDP ratio was when the economy of that country finally collapsed…
A vaccine trial for children begins Monday in Jacksonville.
Jacksonville Center for Clinical Research begins the trial with Maryland-based company Novavax. The trial will involve children 12 to 17 years old. Researchers hope they will be able to enroll six to 11-year-olds in the summer.
In March, Novavax announced its phase three clinical trial in the UK was overall about 90 percent effective. The Novavax vaccine works differently than the vaccines available. It uses a spike protein to cause an immune system response and create antibodies.| Read more
6 a.m. | COVID-19 s grip on Florida is loosening, numbers show
Florida showed continued signs of progress in the fight against the coronavirus pandemic as April turned into May, with vaccinations continuing and the pace of new COVID-19 cases slowing.