Is the government planning to provide further stimulus funds this year? A quick summary of where we are right now, as well as some helpful pointers on how to acquire some government money, follow the link below!
The American Rescue Plan Act boosted the tax credit from $2,000 to $3,000, an increase from the previous level of $2,000.
These payments, on the other hand, were set to expire in 2021. As a result, if you have children between the ages of 6 and 17 years old, the good news is that you will most likely receive a tax refund for the remaining tax credit payments in 2020.
Most recently, Mitt Romney has introduced a new bill, the Family Security Act (FSA), which will be considered by the Senate.
An annual cash benefit of $350 per month for each young child and a monthly cash benefit of $250 for each school-aged child would be provided by the FSA to eligible households. (source) However, that has not been accepted as of yet.
If you own a business, you may be able to take advantage of some tax breaks that are well worth investigating.
For starters, there are debt relief alternatives accessible through the Small Business Administration of the United States of America.
Microloans, as well as catastrophe and commercial loans, are accessible to qualified borrowers. For more information, please see this link.
Make certain that you have received all of the money from the Internal Revenue Service (IRS), which is another smart suggestion.
In the event that you have not filed your taxes in 2020 (or even 2019), you are almost certainly due money. You can utilise this IRS tool to ensure that you receive the compensation you deserve.
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Is there any other way to get extra money from the government besides this? Continue reading to find out more. During this period, you might find the following three programmes to be of use.
Residents in Ohio have a number of additional options.
Additional aid may be available to you as a resident of Ohio, depending on your circumstances.
For example, the HEAP programme, which provides people and families with home energy assistance, is a good illustration of this.
Additionally, there is a financial aid programme for families with children who meet certain criteria, including a “gross monthly income test,” in order to qualify.
For more information, please see the State of Ohio’s website. You can also apply for a variety of benefits from the State of Ohio through this location.