Tax Refunds Will Be Delayed, and a Gas Stimulus Check Will Be Sent…

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Numerous Americans are affected by the cost-of-living crisis, with many concerned about rising inflation, rising gasoline prices, and the fact that they have yet to receive their tax refund.

On Monday, April 11, our live blog will feature the latest financial news and updates from the United States.

 

gas stimulus check

 

Who is eligible for the stimulus programme for homeowners?

The US government has made $9.9 billion available to individuals through the Homeowner Assistance Fund (HAF), which was established to assist those harmed by the COVID-19 outbreak.

The funds will be used to assist residents in avoiding foreclosures, mortgage defaults, and displacement.

 

Obtaining an extension of time to pay taxes

The deadline for filing taxes in the United States is Monday, April 18, so if you are concerned about meeting this deadline, you should apply for an extension.

If you choose to file an extension, keep in mind that it will have no effect on the date the money is due; it will only affect the tax return.

I’d like to receive my tax refund as soon as possible.

Millions of Americans are still awaiting a future Internal Revenue Service tax return (IRS). As a result, you can take a few steps to expedite the process (this could be applicable for future tax years if you are still waiting).

The tax filing deadline is April 18 this year, and the average tax refund is currently $3,352.

 

Maintain An Eye

The state of New Mexico has approved a $500 check to be paid in two instalments over the next three months.

Residents of New Mexico who have already filed their taxes for the 2020 and 2021 tax years or who plan to do so before the deadline are eligible for this bonus, which can be worth up to $1,000 in certain circumstances.

 

What is the difference between marginal and effective tax rates?

Tax season is rapidly approaching, with taxes due by April 18. Many Americans have difficulty comprehending certain tax-related jargon, such as marginal tax rate and effective tax rate.

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The distinction is that the marginal tax rate is the rate applied to an individual’s final dollar of income. By contrast, the effective tax rate refers to the percentage of income that is taxed on an individual.

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