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U.S. finance updates: Lawmakers approve $500 tax refund checks, child tax credit payments are due…

IThe United States federal government may no longer give stimulus checks to support low- and middle-income households, but states are organizing new benefit programs themselves. For example, in New Mexico they just passed a law to give out $500 tax refund checks.

There are similar benefit plans in the United States, and in our live blog this saturday april 9th, we will detail several of them. So stay here for the latest information on how to save money!

Avoid delays with your 2022 tax refund

For those who have already filed their taxes, they are currently waiting for their tax refund, if they have one from 2021. There are some methods you can try to speed up this process.

One way to speed up the tax refund process is to file your taxes electronically and have the money arrive by direct deposit, but that’s not the only tip.

You can learn more here about how to get your tax refund faster.

Last chance for a third stimulus check

Some people have not received their third stimulus check from the federal government and they still have the right to claim that money, but only until April 18.

As CNN reports, those who didn’t receive the correct amount of money and who may have more can also claim it over the next nine days.

Attractive Medicare LCD displays

If an item or service has been refused to you through a Local Medicare Coverage Determination (LCD)you may be able to appeal.

You can appeal if you need the item or service that is not covered by the LCD and if you are eligible for Medicare Part A benefits (hospital insurance), if you are enrolled in Medicare Part B (insurance medical), or both.

You can read more about how Medicare LCDs work here.

New Mexico $500 Tax Refund Checks

The New Mexico legislature has passed a bill that will distribute $500 checks on two payments over the next few months. This is great news for anyone filing taxes in this state.

New Mexicans who have already filed or will file their 2021 tax returns will receive $500 as individual filers or $1,000 if they file jointlythe first installment being scheduled for May or June.

You can learn more here about the $500 tax refund checks coming to New Mexico.

Child tax credit payments are due

Between July and December 2021, child tax credit advance payments were sent, in installments of up to $300 per month.

But that was only half of the year’s child tax credit, with the remaining amount due in April.

You can read more here about how and when this remaining child tax credit amount will be paid.

Prepare for the tax deadline by learning the difference between the marginal tax rate and the effective tax rate

The tax deadline approaches on April 18, so Americans are trying to figure out some of the more complicated tax filing requirements. This includes the marginal tax rate and the effective tax rate.

Essentially, the marginal tax rate is different because it is the tax rate imposed on a person’s last dollar of income, while the effective tax rate is the percentage of their income that an individual or a company pays in taxes.

You can read more here to know more about difference between marginal tax rate and effective tax rate.