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BIG IRS Updates | Fourth Stimulus Check Update | Possible Senior Care Tax Credit | Daily News - YouTube
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Today I ll cover some tax topics.
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IRS stimulus check updates
More and more of you have asked for my opinion
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on a fourth stimulus check.
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I ll discuss a potential $8000 tax credit
from rep Richard Neal
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Gas goes to $7 a gallon in Virginia and 18
states say they will end unemployment early
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so lots to cover today.
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Hello and welcome to today s May 17th, Daily
News report as well as ongoing stimulus check
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information.
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If you re a subscribed member of my community,
then welcome back.
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And if you re not, consider subscribing right
now.
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I just want to remind my community to beware
of scammers that use my picture and try to
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get you to text them.
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Make sure to sign up for the current giveaway.
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We are going to have 20 winners.
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10 will win one of my amazing hats and 10
will win $300 cash to help with groceries
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or bills.
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I ll leave a link below.
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Taxes are due today so make sure you get your
tax return post marked and in the mail or
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file for an extension to avoid the penalty.
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On the topic of the IRS I had a few people
mention in the comments that you have to file
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a tax return by today or you don t get the
child tax credit in July.
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I ve read up on that and I don t believe that
is true.
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The IRS is saying there will be a portal to
update your information, address, banking
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information, marital status and children or
grandchildren.
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So just hang tight and I ll continue to update
you on that.
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At the same time, we were told there would
be a portal for Biden s stimulus check and
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that wasn t true so I ll just continue to
research and report as things happen or change.
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Speaking of Biden s stimulus checks, many
of you have been asking me for an opinion
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on a 4th stimulus check.
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I ve tried to always be honest with my community.
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I don t know if there will be a 4th stimulus
check so I just report
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on who in congress wants them and for how
much they want them to be.
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I think it would be inappropriate for me to
say they will happen and it would be inappropriate
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to say they won t happen.
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So I just tell you what I am reading and researching.
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Around late November of last year I nearly
stopped doing stimulus check updates but I
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chose to be there for my community on other
topics while still reporting on who wanted
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them and for how much.
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Well they ended up happening for $600 with
the promise to do a bigger one under Biden
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for $1400.
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So I m going to continue to cover news in
Washington DC, all the stimulus programs,
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money, the economy and yes 4th stimulus check
information as it is discussed.
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So my opinion is I don t know if it will happen
but if they are in the news, I ll cover it.
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Right now in the news is 70 members on Congress
saying one more check is needed.
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I hope this makes sense.
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I ve never click baited you or misled you
so I m just going to continue being the best
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source of information as I can be for my community.
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By the way, thank you so much for giving my
videos a like.
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I love bringing my community the daily news.
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The IRS said one million more stimulus checks
payments went out this weekend.
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Close to 500,000 of those will be electronic
which means they will likely hit this Wednesday
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so if you are still waiting they are going
out.
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Also the irs has close to $2 billion in plus
up stimulus money going out to the American
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people whose tax returns are just now being
dealt with.
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Remember the plus up stimulus check is for
those that didn t qualify because their 2019
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income was too high so they either got no
check or a lowered check.
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Now with people filing 2020, if their income
was lower they qualify for some amount of
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stimulus so the IRS called it a plus up IRS
stimulus Check.
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1.25 million stimulus checks have never been
cashed.
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If you haven t gotten yours this might be
your money.
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You need to call the irs because it could
have been thrown away or sent to an old address
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or the attempted to direct deposit but couldn
t process so for those that write me in the
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comments you are still waiting on a past stimulus
check, you might be one of the 1.25 million
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they are holding money for.
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Just over a week ago I told you about how
Representative Richard Neal wants to see Child
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Tax credits increase to $8000 a year and be
permanent.
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He s since said he might also want to see
a senior care tax credit for families that
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care for aging parents and count them as a
dependent on their taxes.
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Representative Neal has recently broken away
from Biden s infrastructure bill by saying
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he d like to explore ways to help the country
without having the raise taxes right now.
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He wants to see a focus on child care, health
care and senior care as our population is
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aging and not able to keep up with rising
prices.
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More will come from him I am sure.
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Now 18 states have now announced they will
be ending the $300 per week federal unemployment
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boost early in an attempt to get people back
to work.
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President Biden acknowledged for the first
time that some employers and jobs might have
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a hard time filling positions but that the
$300 per week boost was no showing measurable
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impact on the jobs report.
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Last week 473,000 people filed for unemployment.
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This is the lowest since the pandemic started.
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Some economists worry this move will show
a drop in national GDP or in some of the major
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states while others say a drop would be expected
as the economy returns to money being spent
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from income and not from government programs.
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The people most hurt by this change will be
those that will be looking for work that pays
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less than what they were earning before becoming
unemployed.
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With pipeline being shut down or hacked, the
US has seem a dramatic jump in prices at the
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gas pump.
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Part of California are nearing $5 a gallon
while parts of virigina jumped to over $7
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a gallon because of the Colonial pipeline
hack.
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Critics of Biden are saying his attempt at
being the next President Franklin D Roosevelt
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are making him look more like a President
Jimmy Carter with gas line, food shortages
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and higher gas prices.
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Last week many of you shared with me that
your gas price was near $3.50 a gallon.
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Hopefully as the Colonial Gas line comes back
on gas prices will lower.
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Also, several states are suing President Biden
to re-open the keystone pipeline to lower
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gas prices and create jobs.
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The crisis as the border isn t just the increase
in children being dropped off or people crossing,
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that has increased significantly as I shared
with you last week.
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However, drugs crossing into the United states
has also increased.
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Drug cartels are distracting border agents
and then sneaking drugs in at a different
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location.
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According to Governor Abbott of Texas, Fentanyl
interception has increased by over 800%.
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They ve also seen a huge spike in Cocaine,
Meth and with the price of lumber increasing
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over 400% there is now a black market for
lumber.
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Miss Mexico was crowned 2021 s Miss Universe
last night so felicidades to Mexico for winning.
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This is my update for today.
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As I know more I will come on and share more.
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Make sure to check out the new giveaway and
enter with your email to try to win.
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I ll leave a link below in the pinned comment
so you can enter easily.
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Now Before you go I wish to remind you, that
you are amazing.
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I appreciate you being in my community
And I ll see you on the next video.
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