U.S. finance updates: news on tax refunds, child care credit, tax deductible items…

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Jhe days of nationwide stimulus checks in the United States have ended, but there is many states across the country who seek to help citizens in the context of increase in gas prices and one rise in inflation.

In our live blog this Tuesday, April 5we will report on some of the benefit programs which were introduced to give the Americans a helping hand.

Student loans: Biden announces further payment break extension

The Biden administration plans to freeze federal student loan payments until August 31.

Student loan repayments were due to resume on May 1 after being halted since the start of the pandemic.

Children’s Health Insurance Program 2022: Eligibility and Income Limits for CHIP

Millions of people in the United States are eligible for both Medical help and the Children’s Health Insurance Program (CHIP)which offers them free or low-cost health coverage.

The former is designed for very low-income families, but the latter is for those who earn too much money to qualify for Medicaid but cannot afford private insurance.

Are you eligible? How to apply? READ FULL ARTICLE HERE.

Inflation stimulus checks: Which states plan to send them?

Federal and state legislation to send rebates or stimulus checks directly to Americans has been introduced.

However, unlike previous pandemic relief measures, these payments are much more targeted and have much lower dollar amounts. It is not because governments have become greedy. Instead, it’s about helping Americans weather inflation without exacerbating it.

Several states have already passed laws to provide tax relief to their residents. CLICK HERE TO READ THE COMPLETE LIST.

What advantages can undocumented migrants benefit from?

The contribution of thousands of foreign nationals who choose each year to live in the United States and practice various trades that contribute to the country’s economic growth is recognized by the authorities through access to various support programs that allow them to move forward.

However, not everyone who applies for assistance is eligible, as their immigration or undocumented status often makes a difference.

Learn more about the advantages that undocumented migrants can obtain.

Medicare Sequestration 2022

Changes to Medicare funding will take effect soon and will have various implications for health care providers. Medicare sequestrations are designed to save money by reducing government spending. The sequestration actually started in 2013, but was suspended from April 2020 to December 2021, which means it’s time to give it a proper rethink.

The good news for beneficiaries, however, is that the spending cuts should in no way affect users of Medicare services and coverage. The impact on services and beneficiaries should be minimal.

Learn more here at Medicare Sequestration 2022.

Pandemic EBT Program (P-EBT)

After the COVID-19 pandemic led to the closure of schools across the United States in 2020, the Pandemic EBT (P-EBT) was set up to help low-income families do their shopping.

Since the children were now at home, parents increasingly had to spend their own money on more groceries. P-EBT Program sought to help those who needed a helping hand.

Learn more here about the Pandemic EBT Program (P-EBT).

IRS: How to Reach a Real Person

When it comes to trying to reach the Tax Service (IRS)sometimes you will find that you spend so much time on the phone that you end up giving up.

Well, often you can reach someone much faster if you call a specific service.

Learn more here at how to reach a real person at the IRS.

Are solar panels tax deductible?

If you have recently had solar panels installed in your home, you will probably be able to benefit from a reduction in the amount of income tax you owe.

Many Americans are already looking to make their homes more sustainable by installing solar panelsso this tax advantage is a small additional advantage.

Learn more here about are solar panels tax deductible.

Credit for child care and dependent care

It’s not cheap to have children, with many Americans finding that much of their employment income has to go to their children, but there is financial support available in the form of the Credit for child care and dependent care.

This tax credit is offered to parents who have to pay someone to care for a child under 13, because they have to go to work. Additionally, the credit also applies to a spouse or dependent of any age who is unable to care for themselves.

Learn more here about the Credit for child care and dependent care.

Georgia Tax Refund Refund

the budget surplus in the state of Georgia led Governor Brian Kemp to decide to sign the House Bill 1302which gave the go-ahead for a one-time payment to those who filed tax returns in the 2020 and 2021 tax years.

For single people or people who are married but declaring separately, there is a $250 check which will be sent. For the head of household, the payment will be $375and for couples who are married and filing jointly, they can expect to receive $500.

Learn more here about the Georgia Tax Refund Refund.

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