IRS to send unclaimed stimulus checks to 1 million taxpayers

With pent-up travel demand and stimulus money available, gas prices hit $3 in southeast Wisconsin

From JSOnline:

Christian Robles

Milwaukee Journal Sentinel

Gas prices in southeastern Wisconsin have hit $3 a gallon, the latest reflection of pent-up interest in traveling after more than a year of being cooped up because of the COVID-19 pandemic.

Milwaukee, Waukesha, Racine and Kenosha counties all recorded average prices of $3 a gallon for regular gas on Friday, according to the American Automobile Association. That's about eight to nine cents more than a week ago.

Across Wisconsin, the average was $2.92, which is three to four cents more than the previous week’s average. A year ago, the average gallon of regular gas cost $2.04 in Wisconsin.

Gas industry experts say the prices reflect the reopening of the U.S. economy and ramping up of summertime travel.

“Economic gains are filtering down into increased gasoline consumption as people hit the road for vacation. It’s a whole lot of pent-up demand,” said Jim Ritterbusch, president of Ritterbusch and Associates, an oil trading and advisory firm.

Read more: https://www.jsonline.com/story/money/2021/06/11/gas-prices-to-increase-this-summer/7620545002/

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A Fourth Stimulus Check Might Be on the Way

filo / Getty Images

 With the third round of stimulus checks beginning to hit taxpayers’ bank accounts this week, many are wondering if there will be a fourth round of stimulus payments.

The American Rescue Plan was signed by President Joe Biden last Thursday in an effort to provide financial relief to individuals, businesses and communities hardest hit by the coronavirus. This marked another round of stimulus checks, the third since the pandemic first hit last year.

According to Politico, some Democratic members of Congress do not feel a third stimulus check is enough. Two months before the new relief package was signed, 50 Democratic members of the House of Representatives signed a letter asking President Biden to prioritize recurring direct checks instead of one-time stimulus payments.

The letter published by Politico states, “Another one-time round of checks would provide a temporary lifeline, but when that money runs out, families will once again struggle to pay for basic necessities. One more check is not enough during this public health and economic crisis.”

Rep. Ilhan Omar of Minnesota was the letter’s lead signatory. Rep. Alexandria Ocasio-Cortez of New York was among the other House members who signed.

In a January press release, Omar stated, “A one-time payment of $2,000 is simply not enough. The American people are counting on us to deliver transformative change, and we need to meet the moment by delivering monthly payments of $2,000.”

Eleven Senate Democrats also pressed for recurring direct payments and increased unemployment benefits at the beginning of March, according to CNBC.

Read more: https://finance.yahoo.com/news/chances-fourth-stimulus-check-204935016.html

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Where is my third stimulus check? IRS updates 'Get My Payment' tool with information on new COVID payments

 

You can now find out when your next stimulus payment is expected to hit your bank account or get mailed.

The IRS updated the "Get My Payment" tool on its website with information on the third round of stimulus checks Saturday, agency spokesperson Karen Connelly confirmed to USA TODAY. Check for your status at www.irs.gov/coronavirus/get-my-payment.

The agency had said Friday the tool was expected to be available on Monday.

The third round of Economic Impact Payments will be based on a taxpayer’s latest processed tax return from either 2020 or 2019. That includes anyone who used the IRS non-filers tool last year, or submitted a special simplified tax return.

For those who received the first two stimulus checks but didn’t receive a payment via direct deposit, they will receive a check or a prepaid debit card.

Social Security and other federal beneficiaries will generally receive this third payment the same way as their regular benefits, the IRS said. A payment date for this group is expected to be announced soon. 

The payments would amount to $1,400 for a single person or $2,800 for a married couple filing jointly, plus an additional $1,400 for each dependent child. Individuals earning up to $75,000 would get the full payments, as would married couples with incomes up to $150,000. Payments would decline for incomes above those thresholds, phasing out above $80,000 for individuals and $160,000 for married couples. 

Read more: https://www.usatoday.com/story/money/2021/03/13/stimulus-check-2021-status-irs-get-my-payment/4687048001/

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Senate debates economic package after agreement reached to limit stimulus checks

Ron Johnson pledges to slow down passage of stimulus bill with out-loud reading of 700-page document

From JSOnline:

Laura Schulte

Milwaukee Journal Sentinel

U.S. Sen. Ron Johnson is pledging to slow down the next coronavirus stimulus package — and its $1,400 checks for Americans.

The Oshkosh Republican on Wednesday afternoon promised to force a full reading of the bill while speaking on The Vicki McKenna Show. He said that reading the entirety of the document would likely take up to 10 hours. 

"I will make them read their 600- to 700-page bill," he said on the radio program. "So that every member of the Senate would have time to read it ... before we start the debate on it." 

After the reading, Johnson said he is prepared to continue to use parliamentary procedure to slow down a full vote by introducing as many amendments as he can. He hopes the price tag of the bill will go down substantially by the end of the debate by eliminating portions of the bill he sees as unfit. 

Read more: https://www.jsonline.com/story/news/2021/03/03/ron-johnson-pledges-slow-down-stimulus-reading-document/6910208002/

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