New York city Boston pandemic Ventilators shock consequences ICE Gap Provident New York city Boston

Why your tax refund could be smaller than last year

Reading now: 237
www.fox29.com

NEW YORK - Expecting a tax refund? It could be smaller than last year. And with inflation still high, that money won't go as far as it did a year ago.The 90 million taxpayers who have filed as of March 31 got refunds that were an average of nearly 10% less than last year, in part due to pandemic relief programs expiring.

The filing deadline for most taxpayers is Tuesday.The average refund is $2,910, down from $3,226, a difference of more than $300, according to the most recent IRS data.For many households, especially working families, the tax refund is the biggest one-time financial windfall of the year, said Kathy Pickering, chief tax officer of H&R Block."We know that working families in general are the most cash-strapped," she said, adding that the expanded earned income tax and child tax credits during the COVID pandemic provided a lot of benefits for families with children.(Xaume Olleros/Bloomberg via Getty Images) The child tax credit, for example, is reverting to $2,000 per child, while the pandemic credit was as high as $3,600 per child.

The child and dependent care credit, a tax break available to parents and those who care for family members while they work, had been expanded to a maximum of $8,000 in 2021 and is now a maximum of $2,100."As those provisions expired, that's had a big impact," Pickering said.Rachel Zhou, 20, a college student in Boston whose father works in food delivery and whose stepmother is a social worker, said her family has used refunds in the past for things like home repairs that require big one-time payments.

One rebate they received during the pandemic went toward fixing her house's heating, air, and ventilation system, she said. Featured The tax deadline is a little over a week away,.

Read more on fox29.com
The website covid-19.rehab is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

Mother furious after 6-year-old son left alone on bus at Philadelphia daycare - fox29.com
fox29.com
55%
556
Mother furious after 6-year-old son left alone on bus at Philadelphia daycare
PHILADELPHIA - A local mother is speaking out against a Philadelphia daycare after she says her 6-year-old son was left alone on a school bus and had to find his way back into the building. Terralyn Jackson told FOX 29 that her son, Zaadyn, was picked up from school on Friday for an after school program at the Rock Foundation Early Learning Academy in West Oak Lane. Zaadyn ended up falling asleep on the bus during transit and when the bus arrived at the daycare, he was left behind for approximately 15-17 minutes, Jackson said. Zaadyn said he was awoken by the unseasonably warm temperatures that climbed into the mid-80s on Friday, and he found his way off the bus and through the daycare's front gate. MORE LOCAL HEADLINES"If he did not know how to get through the gate, which the lock is very high, he would’ve been on Ogontz Avenue just randomly there," Jackson said.Jackson said a parent let Zaadyn in through the main entrance of the daycare. A staff member then drove Zaadyn in the person vehicle to get water ice, which the school claims was a soothing mechanism. "I’m a single parent trying to do what’s right and best for my child and I trusted someone to take care of my child while I’m at work doing the right thing,"Rock Foundation Early Learning Academy Director Carine Dorlus told FOX 29 that the whole incident was an accident and a mistake.
Canada Revenue Agency won’t extend tax deadline if workers strike - globalnews.ca - Canada
globalnews.ca
77%
119
Canada Revenue Agency won’t extend tax deadline if workers strike
Canada Revenue Agency says it will not extend the deadline to file taxes even if thousands of its workers go on strike amid an ongoing labour dispute.“There are no plans to extend the T1 tax filing deadlines, as a potential strike in no way impedes the ability of Canadians to file their taxes electronically or on paper,” an agency spokesperson told Global News in an email Thursday.“Canadians should take steps to ensure their return is filed by May 1, 2023, along with payment for any balance owing.” Read more: Tax delays, passport backlogs: How you’ll be impacted if public servants strike As of Friday, more than 35,000 agency workers, represented by the Union of Taxation Employees (UTE) and the Public Service Alliance of Canada (PSAC), were in a legal position to strike after voting ended last week.That’s in addition to the 122,000 other Public Service Alliance of Canada federal workers who entered a strike position as of Wednesday.The labour dispute over contracts, wages and remote work comes as the May 1 deadline to file income tax and benefit returns for 2022 is approaching.In the event of a strike, the Canada Revenue Agency (CRA) has warned some services may be delayed or unavailable.Specifically, the CRA anticipates there may be delays in processing some income tax and benefit returns, particularly those filed by paper, and increased wait times in contact centres.Even if there is a labour disruption, the agency says on its website that benefit payments will be prioritized and the child benefit will continue.As negotiations continue, CRA is encouraging Canadians to file their taxes “as soon as possible, not only this year but every year.” Read more: CRA ‘confident’ a compromise is possible as tax season strike
John Rich - Anheuser-Busch sheds roughly $5 billion in value since Bud Light’s Dylan Mulvaney pact sparked outrage - fox29.com - New York - state Tennessee - city Nashville, state Tennessee
fox29.com
39%
448
Anheuser-Busch sheds roughly $5 billion in value since Bud Light’s Dylan Mulvaney pact sparked outrage
Dylan Mulvaney.As of Wednesday's close, Anheuser-Busch has fallen 5.02% and lost $4.562 billion in market cap, according to Dow Jones Market Data Group.The stock was $66.73 per share on March 31 and closed at $63.38 on Wednesday. An analysis on the matter was first published in the New York Post.Mulvaney, a trans activist and social media influencer who gained prominence when given an opportunity to interview President Biden about LGBTQ issues in 2022, revealed earlier this month that the beer company sent packs of Bud Light with her face printed on the cans as part of an ad for the beer company’s March Madness contest and as a way to celebrate a full year of "girlhood."Mulvaney said the cans were her "most prized possession" on Instagram with a post featuring "#budlightpartner." A video then featured Mulvaney in a bathtub drinking a Bud Light beer as part of the campaign, but the pact was met with significant criticism.Anheuser-Busch stock plummeting comes as country music singer John Rich said he pulled cases of Bud Light from his Nashville, Tennessee, bar as part of a boycott against Anheuser-Busch; conservative rocker Kid Rock used several Bud Light cases for target practice in a viral video; and there has been widespread backlash on social media while beer distributors are concerned. Anheuser-Busch did not immediately respond to a request for comment about its stock. The company had previously stood by the decision.RELATED: Kid Rock shoots up Bud Light cans with rifle to protest Dylan Mulvaney partnership: 'F--- Bud Light'"Anheuser-Busch works with hundreds of influencers across our brands as one of many ways to authentically connect with audiences across various demographics.
DMCA