The deadline to file federal individual and business tax returns and make tax payments was extended to May 15, then extended to October 16, the IRS said. The IRS has also announced tax relief for Californians affected by recent winter storms. Those who received letters saying they didn't activate their cards, but don't have them, can contact Money Network at 1-80 to claim their payment. But the board revealed that of the 9.6 million debit cards mailed out, about 15 percent were never activated.ĪBC7 reported this week that the state has sent out letters to almost 1.5 million Californians saying they never activated their debit cards, which expire in 2026. Payments were sent as a direct deposit or in the mail as a debit card. The Middle Class Tax Refund sent out payments of up to $1,050 to millions of taxpayers, according to the state's Franchise Tax Board. Justin Sullivan/Getty Images CaliforniaĬalifornia sent out one-time inflation relief payments to residents starting last fall. A 21% global tax floor would mean $140 billion more for Europe and U.K.Customers shop for eggs at a Sprouts grocery store on Apin San Rafael, California.More must-read finance coverage from Fortune : That plan would extend the $250 monthly child tax credit through 2025. The Treasury Department last month released a set of rules for spending the money.īiden’s American Families Plan, if passed, could also provide some relief. And the March economic stimulus package included $350 billion in aid for state and local governments that can be used to make direct payments to their citizens. Gavin Newsom, for example, has proposed $600 payments to families that make up to $75,000, an expansion of California’s Golden State Stimulus program, which has already sent out $600 payments. While the Biden administration for now appears focused on passing an infrastructure spending package, residents in some states could still see additional funds. Companies created 559,000 new jobs last month, but analysts were expecting 671,000. That was better than April’s 6.1%, but new jobs fell short of expectations. While the economy is improving, 5.8% of the country was still without work in May, according to the Labor Department. “But he’s also proposed what he thinks is going to be the most effective for the short term for putting people back to work, to getting through this pivotal period of time, and also to making us more competitive in the long term.” “He’s happy to hear from a range of ideas on what would be most effective and what’s most important to the economy moving forward,” Psaki said. On Thursday, White House press secretary Jen Psaki downplayed the likelihood of another round of stimulus payments. “An Urban Institute study suggests that a single direct payment of $1,200 combined with an extension of enhanced unemployment insurance and other assistance could keep 12 million people out of poverty, and adding a second direct payment could keep an additional 6.3 million people above the poverty line,” the group wrote.ĭespite the calls, though, the Biden administration doesn’t seem to be behind the idea of a fourth check. And at the end of March, 21 Senate Democrats (including Elizabeth Warren and Bernie Sanders) sent a letter to President Joe Biden supporting the idea of recurring payments and automatic unemployment insurance extensions. More than 2.3 million people have signed a petition calling for recurring $2,000 payments to adults and $1,000 payments for children.
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