North Carolina: Land of the Fourth Stimulus Check?
It’s unclear how much support the governor s proposals have in the state legislature in North Carolina.
As the money from the American Rescue Plan nears the end of its distribution, some states are looking at sending out stimulus of their own. California recently passed the Golden State Stimulus, and now North Carolina’s governor is proposing something similar.
In a statement Wednesday, Gov. Roy Cooper of North Carolina pitched his idea as “recommendations for how North Carolina can most effectively invest in its recovery through the American Rescue Plan. That’s in reference to the $5.7 billion that North Carolina received from that legislation.
Tomorrow Is Tax Day: When Will Your Refund Come? What If You Owe the IRS?
The official deadline to file a 2020 federal tax return is just one day away, on Monday, May 17. Although it’s nearly a month after the usual deadline, millions of people have still not filed their taxes.
The official deadline to file a 2020 federal tax return is just one day away, on Monday, May 17.
Although it’s nearly a month after the usual deadline, millions of people have still not filed their taxes.
And with the coronavirus crisis, the federal government has made several tax changes, with amended provisions and dates that every taxpayer should be aware of.
The stimulus money cannot legally be used to subsidize new state tax cuts.
Here s What You Need to Remember: CNBC lists legal uses for the money by state and local governments as “supporting public health expenditures, addressing the negative economic impact caused by Covid-19, replacing lost public-sector revenue or investing in water, sewer and broadband infrastructure.”
The Treasury Department earlier this week officially launched the Coronavirus State and Local Fiscal Recovery Funds, a $350 billion fund allocated by the American Rescue Plan stimulus package back in March. It also laid out rules as to how states and local governments can spend the money, and what they can and can’t do.
Biden Has $350,000,000,000 In Stimulus Checks for States Coming Soon
The American Rescue Plan, which initiated the distribution of the third round of stimulus payments, also included $350 billion to help state, local, territorial, and tribal governments respond to the pandemic in the form of the Coronavirus State and Local Fiscal Recovery Funds.
The distribution of direct federal stimulus payments continues, with the IRS now having sent over 164 million payments worth roughly $386 billion to eligible Americans. Distribution of these payments appears to be winding down, however, with over 85 percent of funds earmarked for use in stimulus payments now having been spent. The most recent batch of stimulus payments distributed by the IRS, moreover, appears to have been focused primarily on getting money in the hands of Americans whose payments were dependent on information contained in their 2020 tax returns, suggesting that most Americans who are eligible have already received their
Big Stimulus Checks and Extended Unemployment: Why Go Back to Work?
U.S. employers are finding difficulty in hiring new workers, even though the nation’s unemployment rate sits at six percent nearly double what it was before the coronavirus pandemic.
U.S. employers are finding difficulty in hiring new workers, even though the nation’s unemployment rate sits at six percent nearly double what it was before the coronavirus pandemic.
Roughly 4.6 million workers exited the labor force during the pandemic, a Bank of America analysis reported. But the majority of those workers don’t plan to rejoin the labor force until the end of next year, Joseph Song, the leader of the effort, said in a letter to clients.