Jhe economic difficulties of many people in the United States led the federal government and some states to put in place programs to ease the financial burden in the context of increase in gas prices and one rise in inflation.
In our live blog this Thursday, April 7, we’ll be highlighting the latest benefit programs which were introduced to provide support to Americans
US mortgage interest rates hit 5% for the first time in a decade
After hitting historic lows last year, mortgage rates are up sharply. On April 5, they hit their highest level in more than a decade, with the average U.S. interest rate for a 30-year fixed-rate mortgage rising above 5%, from less than 3% just a year ago. year. Housing industry experts say this is a good thing for the booming US housing market.
Child tax credit: Will there be another check in April 2022?
As hundreds of Americans are eager to get more Child tax credits, there are many uncertainties. The big question is whether the government will give parents another child tax credit payment this month. The answer is both yes and no.
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Explain IRS Treas 310
The IRS Treas 310 is the signal for an ACH direct deposit refund or stimulus payment from your tax return. This is a code that identifies transactions as a refund of a tax return filed in the form of a direct deposit.
Your stimulus payment can be deposited directly into the same account you used when you filed your 2021 tax return or the account number used in the previous stimulus payment program. The payment will be listed as “IRS TREAS 310 XXTAXEIP2”.
Learn more about IRS Treas 310 here.
Idaho stimulus check
Idaho Residents who resided there full-time in 2020 and 2021 and who also filed a tax return for each of those years should receive a tax refund of Idaho State Tax Commission.
These payments will be $75 for each taxpayer and each dependentor 12% of their 2020 taxes – whichever is greater.
Learn more here about the Idaho stimulus check.
New Mexico Tax Refund
Residents of the U.S. state of New Mexico should benefit from a tax refundwhile on Tuesday lawmakers agreed to issue payments totaling $700 million.
Individual adults will be able to obtain a check for the value $500while households will see a check for the value of $1,000.
Learn more here about the New Mexico Tax Refund.
IRS Uniform Life Table
The IRS just released the life expectancy charts for 2022, with the uniform life table allowing Individual Retirement Account (IRA) owners to view their 2022 lifetime RMDs.
This information will show the age of the IRA owner, as well as the life expectancy in years.
Learn more here about the IRS Uniform Life Table.
When will my fourth COLA check arrive?
The last Social security checks as a member of cost of living adjustment (COLA) will be sent next week, with payments being made on the second, third and fourth Wednesdays of the month.
The date you receive your check depends on your date of birth and there are possible additional benefits available under the SSI program.
Learn more here at when my COLA check will arrive.
Suspension of student loan
Federal student loan repayments could be delayed until August by US President Joe Biden, with the current restart date set for May 1.
What has worried some in government is that around seven million loans have not been repaid, so they are at least 270 days overdue.
Learn more here about the student loan suspension.
Student Loan Forgiveness
There might be a chance for some graduates in the United States to see their student loan debt erased, as long as certain criteria are met.
For this to happen, 120 payments must have been made over a 10-year period.
Learn more here at student loan forgiveness.
Inflation stimulus checks
Some States have sought to send stimulus checkstyle payments to their citizens given the current rise in inflation in the USA.
Five states have so far provided tax breaks to citizens and three governors have so far signed the Gas Rebate Act of 2022.
Learn more here at inflation stimulus checks.
Georgia Tax Refund Refund
Governor Brian Kemp in Georgia signed the House Bill 1302 which will see citizens benefit from the state budget surplus.
Anyone who has filed taxes for the 2020 and 2021 tax years is eligible, with payouts of $250, $375, and $500 offered depending on your personal circumstances.
Learn more here about the Georgia Tax Refund Refund.