American Finances Updates: Gas stimulus checks, Inflation Stimulus Payments…

The rising cost of living in the United States has caused many people to have to watch their spending, with the impact of inflation, the COVID-19 pandemic and Russia’s invasion of Ukraine all contributing towards the tough times many Americans are going through right now. There are some programs that have been introduced by state governments to try and help people when it comes to paying for their essentials, with this including gas stimulus checks, inflation stimulus payments and more.

In this live blog, we will have the latest financial news and information coming out of the USA.

Dogecoin vs Shiba Inu: Which one will get to the $1 price first?

Since last year, the fear of several investors that the pandemic would have devastating effects on the economies of the most powerful nations in the world caused them to seek refuge for their investments and as an alternative they found it in some cryptocurrencies that, although in a matter of months they provided a surprising return, at the end of the year this plummeted sharply producing a bittersweet taste among those who believed in values such as Dogecoin and Shiba Inu, to cite a few examples.

Read more about these cryptocurrencies

IRS Form 4868: How to get a tax extension in 2022?

The deadline for filing federal income taxes is April 18, 2022. If you require additional time, you can obtain an automatic income tax extension by completing IRS Form 4868. This gives you until Oct. 17, 2022, to file your taxes.

We understand this could be a very complex subject if you’ve never done it, and even if you have, navigating through the forms and process can be quite difficult. Let us give you some helpful tips to make this much easier.

Read more here about the IRS Form

Georgia Tax Refund: How does this extra State Income Tax Refund work?

Georgia experienced a revenue surplus, allowing an income tax refund.

After Gov. Brian Kemp signed a refund plan into law on Wednesday, you could soon see more money in your account. It would distribute more than a billion dollars to Georgia taxpayers.

Read more here about how to qualify and apply.

How does the federal solar tax credit work?

Homeowners in the US have the chance to get a 26 percent discount on the cost of installing sonar energy on their homes as part of the federal solar tax credit, which is also known as the investment tax credit (ITC).

There is no income limit for this credit, and you need to own the solar energy system – you cannot be leasing it. Also, it can’t have been on your house when you bought it.

Read more here about the federal solar tax credit.

What date will SS checks deposited in April?

Social Security recipients in the USA are not too far away from receiving their money for April, but they will want to know the date that it is expected to arrive via direct deposit in order to plan around it.

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There will be three sets of payments sent out in April, and your date of birth will have an impact upon when your money arrives: the first group of Social Security beneficiaries will get their money on April 13; the second will see theirs arrive on April 20; and the last group will receive their payment on April 27.

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Read more here about the Social Security payments schedule.

Inflation Stimulus Payments

There are 11 states in the USA that have so far decided to use their budget surplus to issue an inflation stimulus check, of which the amount varies state by state.

The inflation rate in the USA is the highest that it has been in 40 years and the goal is for this money to provide a boost to many citizens, even though in all of the cases it is less than the extra 2,000 dollars that the average citizen is expected to pay out this year due to rising costs of everything around them.

Read more here about inflation stimulus checks.

Will there be a Gas Stimulus Check?

One area in particular that has seen a sharp rise in the price lately is with gas, as a mixture of inflation and Russia’s invasion of Ukraine has led to the cost of gas going up.

Therefore, the hope is that the Gas Rebate Act of 2022 will be passed and this will send out rebates of 100 dollars per month, in addition to 100 dollars for each dependent, to taxpayers who are living in areas where the average price per gallon is above four dollars.

Read more here about the possibility of a gas stimulus check.