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Low-Income Benefits Update! | EITC Worth Up To $1500 | $500 Per Month UBI Program - YouTube
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what's going on guys josh baldwin here for聽
mad money millennial bringing you the latest聽聽
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news and most straightforward information out聽
there for those of you on social security ssi聽聽
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ssdi low income and snap or ebt benefits you聽
can do me a giant favor by demolishing those聽聽
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like and subscribe buttons and let's get into聽
this video where we will discuss a couple of聽聽
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recent news updates including the federal earned聽
income tax credit which is worth up to fifteen聽聽
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hundred dollars a brand new universal basic聽
income program worth up to 500 per month for聽聽
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the people of chicago free legal services for聽
low-income portland residents facing eviction聽聽
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and education assistance to low-income families聽
in nebraska all right let's hop straight into聽聽
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a couple of recent news articles that will give聽
us some background into what these programs are聽聽
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and how we can take advantage of them so this is聽
from cbs news millions of low-income americans聽聽
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eligible for tax refund boost this year so this聽
is with regards to the earned income tax credit聽聽
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this tax season millions of low-income americans聽
are eligible for a one-time tax break that could聽聽
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save them a ton of money the federal earned income聽
tax credit which is aimed at people in the lowest聽聽
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paid jobs is being tripled for a group of workers聽
who typically don't benefit much from it which聽聽
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is childless adults for the tax year that just聽
ended low-income workers without kids can receive聽聽
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a credit worth up to fifteen hundred dollars聽
nearly triple what the credit was worth in 2020.聽聽
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the american rescue plan the 1.9 trillion dollar聽
pandemic relief bill signed into law last year by聽聽
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president joe biden expanded the credit raised聽
income limits and expanded the ages of eligible聽聽
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workers for 2021. okay so how do we find out聽
who is eligible for the earned income tax credit聽聽
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and how do we claim it so the american rescue聽
plan expanded who can claim the earned income聽聽
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tax credit by raising income limits for childless聽
workers taxpayers without kids who earned up to 21聽聽
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430 dollars from a job gigs or self-employment can聽
claim the credit when they file their tax returns聽聽
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this season in most years workers earning more聽
than about 16 000 are ineligible for the earned聽聽
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income tax credit taxpayers can also choose to聽
use income from 2019 to qualify for the credit聽聽
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which is useful for those who lost their job聽
or other type of work in 2020 the irs has also聽聽
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scrapped prior year's age limits for the earned聽
income tax credit meaning previously only workers聽聽
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ages 25 to 64 could claim it this tax season聽
any worker age 19 or older who meets the income聽聽
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guidelines can qualify for the credit including 18聽
year olds who are homeless or have been in foster聽聽
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care the american rescue plan allows anyone 19 and聽
older who is not a full-time student and who has聽聽
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earnings to claim the expanded earned income tax聽
credit it expanded both age and income eligibility聽聽
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and it made the credit larger according to chris聽
cox deputy director of federal tax policy at the聽聽
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center on budget and policy priorities policy聽
experts estimate that between 17 and 20 million聽聽
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workers will benefit from the expanded credit聽
including older and younger workers who would聽聽
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normally get no credit and those who will receive聽
more money than usual this is relevant to the聽聽
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people of chicago illinois so this article is聽
called low-income chicago families to get 500聽聽
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a month from city as part of a new program聽
chicagoans can apply to the universal basic聽聽
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income program in april it was one of four聽
anti-poverty initiatives mayor lori lightfoot聽聽
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announced on thursday okay so this is one of four聽
anti-poverty initiatives just recently announced聽聽
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by the mayor of chicago chicagoans can now sign聽
up to get information about a basic income pilot聽聽
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program that will send 500 per month to聽
low-income families the chicago resilient聽聽
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communities pilot program so that's the name聽
of the program that's providing this benefit聽聽
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will provide cash assistance to 5 000 families per聽
month for a year providing them economic stability聽聽
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after the uncertainty caused by the pandemic聽
households selected for the program must have been聽聽
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impacted by covert 19 and will be selected using a聽
lottery system and this is one of four initiatives聽聽
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that mayor lightfoot rolled out this spring in聽
order to fight poverty in chicago so together聽聽
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along with this initiative the three programs聽
are expected to benefit more than 30 000 people聽聽
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of chicago people who wish to participate in the聽
31.5 million chicago resilient communities pilot聽聽
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program can sign up online to get information so聽
if you're looking to apply for this program it聽聽
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looks like the application opens up in april and聽
it also says that residents who are chosen for the聽聽
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program will receive 500 per month for 12 months聽
there will be no strings attached to the money or聽聽
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limitations on how it can be spent to apply for聽
this residents must live in the city the 18 years聽聽
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or older have experienced economic hardship聽
related to the pandemic and have a household聽聽
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income at or below 250 percent of the federal聽
poverty level the city will work with non-profits聽聽
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and an advisory group of experts to ensure the聽
program is done in an equitable and effective way聽聽
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according to the mayor's office now it looks like聽
other programs that chicago is currently offering聽聽
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domestic worker relief fund in april as well聽
this fund will provide a one-time grant of 500聽聽
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to eligible domestic workers so keep your eye out聽
for that the chicago resiliency fund 2.0 the city聽聽
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will also open applications for this program in聽
april and this fund will provide residents with a聽聽
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one-time grant of 500 this fund is meant to help聽
residents who were excluded from prior federal聽聽
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stimulus relief programs so if you were excluded聽
from any other program that you tried to apply for聽聽
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and tried to receive money from in the past and聽
were denied you can at least try and apply for聽聽
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this fund which opens up in april similarly to聽
the other relief funds in this on this website聽聽
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the city will also try to combat regressive fines聽
and fees for low-income households through the聽聽
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clearpath relief pilot program which will open up聽
on april 1st so this program will help low-income聽聽
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drivers eliminate debt by paying off the original聽
amount they've been fined on tickets given to them聽聽
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in the past three years according to the city聽
okay so this program is meant to help people who聽聽
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at parking space that they weren't meant to be聽
parked in they got some sort of tracking ticket聽聽
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so a couple of other perks for this program聽
include people with expired city stickers聽聽
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or expired license plate violations will also be聽
able to fix this problem by buying the required聽聽
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sticker instead of paying a ticket so people will聽
also have the opportunity to fix each violation聽聽
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per license plate but the fix must be done within聽
30 days of the violation this is with regards to聽聽
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the residents of portland oregon portland is now聽
offering free legal services to low-income tenants聽聽
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facing eviction so if you qualify you can reach聽
out for these free legal services as soon as you聽聽
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are served a notice of eviction the portland聽
housing bureau in partnership with the oregon聽聽
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law center and portland community college's clear聽
clinic is offering legal support for low-income聽聽
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tenants facing eviction tenants can seek legal聽
services as soon as they receive a notice of聽聽
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termination and do not need to wait until an聽
eviction case is filed so there are currently聽聽
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safe harbor protections under sb 891 for tenants聽
who have applied for emergency rental assistance聽聽
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now the deadline to apply for federal assistance聽
from the state has been extended one additional聽聽
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week according to the state the deadline to apply聽
is now march 21st so anyone who has not applied聽聽
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for emergency rental assistance before who has聽
fallen behind on rent payments due to covert 19聽聽
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are encouraged to apply by 11 59 pm on聽
march 21st at oregonrentalassistance.org聽聽
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anyone waiting on a decision on their application聽
cannot be evicted for non-payment so long as the聽聽
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paperwork has been provided to their landlord聽
now this protection is extended through july 1st聽聽
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2022 the oregon housing and community services聽
will begin processing 2022 applications聽聽
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as early as this week so for anyone not聽
waiting on an application to be processed聽聽
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and are in need of legal services because you聽
have been served a notice of eviction you must聽聽
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meet the following requirements to receive your聽
legal support number one you must rent a unit聽聽
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within portland city limits you must be low income聽
which is 80 of the area median income or below聽聽
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you must be facing eviction which means one of聽
the following must apply to you you have received聽聽
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a termination notice that has not been filed聽
in court or you have received notice about the聽聽
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pending loss of your housing subsidy or you have聽
an eviction court case now if you qualify and you聽聽
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have any questions or you need assistance聽
you can always call the number at 888 585
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or email them at evictiondefense聽
oregonlawcenter.org in other news this聽聽
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is with regards to the people of omaha nebraska so聽
the governor of nebraska pete ricketts expressed聽聽
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his full support of a bill a brand new bill that聽
would provide education assistance to low-income聽聽
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families during a press release on tuesday the聽
bill which is called lb 1240 this bill would聽聽
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take 60 million dollars in arka funds and give聽
it to low-income families whose children show聽聽
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signs of learning loss within the areas of math聽
science and language arts each child who exhibits聽聽
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these signs and are on the free lunch program聽
would receive two thousand dollars this learning聽聽
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law stands from the almost two years where kids聽
did not have the option to be in person at school聽聽
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every day over the pandemic it was proven聽
that virtual learning was not as effective as聽聽
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in person learning the funds would go to help聽
those children who struggled and fell behind聽聽
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due to this new learning style so if聽
you're a mother who lives in indiana聽聽
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and you've noticed your own child struggling over聽
the past two years during the coveted 19 pandemic聽聽
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this bill will definitely be something that聽
will potentially help them out with their future聽聽
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okay going back to a previous topic and last聽
but not least in this final segment i wanted聽聽
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to cover taxes for low-income families so this聽
tax season i know there's been a lot of changes聽聽
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and a lot of confusion as to what is聽
going to be happening this tax season聽聽
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the irs itself is preparing to do everyone's tax聽
returns and there's a lot of factors at play here聽聽
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so let's watch this video from cbs news so that聽
we can get a little bit more clarity about what's聽聽
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going on how do we file our taxes when do we file聽
our taxes what's going to happen with our taxes聽聽
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let's answer these questions by watching this聽
video let's listen though well the irs is facing聽聽
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a backlog of more than 23 million returns聽
this tax filing season now during hearing聽聽
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before the senate finance committee the agency聽
said factors like budget cuts and retirements聽聽
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have led to understaffing and that turns into poor聽
customer service the irs has also taken on more聽聽
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responsibilities during the pandemic to distribute聽
economic relief these problems could result in聽聽
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americans seeing a delay in their refund checks聽
this year cbs news reporter sarah e wallace ewald聽聽
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weiss joins me now with more sarah so are we going聽
to get delays on our tax return checks you know it聽聽
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really depends on how you file your tax return聽
the irs is begging people to file electronically聽聽
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and to double and triple check their information聽
if they do that they should be able to get their聽聽
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refunds in that 21 day window but they really are聽
facing unprecedented challenges this tax season聽聽
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and these really have been long-term issues that聽
the irs is facing that has been exacerbated by the聽聽
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coronavirus pandemic you talk about that backlog聽
23 million items on its to-do list before it even聽聽
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addresses this tax filing season which is making聽
it a lot more work for a lot more people at the聽聽
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irs and what they're really saying is the heart of聽
that problem is those paper returns which is why聽聽
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they want people to file electronically because聽
the irs has extremely old systems they date back聽聽
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to the 1960s and 70s and so when they have these聽
paper returns a lot of their systems are not聽聽
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automated they have to go in and put information聽
line by line into their systems after they were聽聽
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shut down in 2020 because of the pandemic聽
for a number of months they had to go back聽聽
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and work their way through all of that mail聽
that compiled up into last year so people聽聽
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were waiting for returns from 2020 last year聽
and some of them are still waiting for refunds聽聽
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this year on top of last year's return so a聽
lot of challenges there while they're seeing聽聽
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staffing shortages at the same time so it really聽
is a challenge for them they're really pushing聽聽
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to have people file electronically that is聽
the top priority for them and to double and聽聽
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triple check those lines in their returns when聽
people file to make sure that they're all accurate聽聽
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all right so there you see when you're filing聽
your taxes this tax season it's very important聽聽
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that if you can try to file electronically so聽
that you can get your refund within that 21 days聽聽
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that they mentioned so that you see no further聽
delays so that you see no issues because聽聽
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as she was mentioning there are a lot of issues聽
with the paper returns their systems or a lot聽聽
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systems are pretty old they she mentioned聽
they were created back in the 60s and 70s so聽聽
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the way that they handle paper returns is not as聽
advanced and up to date as their current methods聽聽
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of handling electronic returns of which they聽
would be using you know all types of new software聽聽
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they would have the most up-to-date information聽
they would be getting their information delivered聽聽
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a lot more easier and be able to track it a lot聽
more easier with these new electronic systems聽聽
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so if you can please try to follow your taxes聽
electronically this year you know turbo tax聽聽
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whatever it may be all right guys i hope you found聽
this video helpful if you did please leave a like聽聽
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comment down below any information you might聽
have about your own state's benefits or programs聽聽
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and of course subscribe stay safe stay聽
hustling and i'll talk to you guys again soon
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you
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