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American Finances Updates: New stimulus checks in the US, Social Security payments… – Marca English


Follow our financial news live blog on Tuesday, May 24, for the latest information on stimulus checks in the USA and much more.
The Small Business and Self-Employed Tax Center is your one-stop online resource for all small business owners who need orientation.
Treasury Department blocks Russia’s government from defaulting
The Treasury Department took a major step toward pushing Russia into a government default, announcing that it would no longer allow the Kremlin to make debt payments to U.S. bondholders.
The move will make it nearly impossible for Russia to avoid a default on its national debt commitments which it has been trying to avoid since the war in Ukraine began.
The Biden administration imposed sanctions on Russia’s central bank shortly after the war began, but issued a special license exempting bond payments, allowing the government headed by Vladimir Putin to continue paying its credit obligations. But that license was set to expire this week, and the Treasury now says it will not be renewed.
That means U.S. banks won’t be able to process debt payments when Russia tries to make them.
In total, the Russian government owes about $20 billion in bonds, mostly in dollars, and owes about $500 million in interest payments over the next month, according to Gerard DiPippo, a senior fellow in the economics program at the Center for Strategy and International Studies.
Those who follow the cryptocurrency world have probably heard of the Cardano vs Ethereum debate. Cardano (ADA) and Ethereum (ETH) are frequently compared because both networks provide similar services.
The Ethereum and Cardano blockchains can both be used for similar tasks, such as running custom programming logic and developing programs.
The core algorithm of any blockchain network is used to generate blocks and validate transactions. At the moment, Ethereum’s Proof-of-Work blockchain is less flexible than Cardano’s Proof-of-Stake Ouroboros consensus method.
More information here.
It’s very common working for a company or a small business employer and they are the ones who pay your Social Security takes to the IRS. However, the recent years of the pandemic gave a lot of people the chance to become individual workers or to open their own small business.
In these cases, there is a specific way to operate and pay for your social security. This article will help you calculate the social security taxes you owe and get the benefits that come with paying on time. We are talking about one of the biggest responsibilities as an American that will allow for you to be a functioning member of society.
More information here.
Cryptocurrencies are a recurring theme for new investors. The digital part is what moves them the most, besides having high values at the beginning.
Bitcoin, the most popular crypto in the world, started with a high value. Just over 100 thousand dollars was what it was worth, but it did not last for long.
As the months went by, Bitcoin fell to below $30,000. But now, a slight rise broke that streak of just over six months and it finally rose above that amount.
More information here.
Special tax law provisions may help taxpayers and businesses recover financially from the impact of a disaster, especially when the federal government declares their location to be a major disaster area. Depending on the circumstances, the IRS may grant additional time to file returns and pay taxes.
Victims of severe storms in parts of Puerto Rico now have until June 15, 2022
Tax-related identity theft happens when someone steals your personal information to commit tax fraud. Your taxes can be affected if your Social Security number is used to file a fraudulent return or to claim a refund or credit.
Millions of working people in the U.S. are able to benefit from the Earned Income Tax Credit.
This allows low- to moderate-income workers and families get a tax break.
At the moment in 2022, the largest sum of money that you can get from Social Security is 4,194 dollars per month.
There are some specific things that you can follow to try and get the maximum payment from Social Security, which are explained in the link below.
Read more here about Social Security payments.
Frontline workers in the state of Georgia are set to be rewarded for their efforts over the last couple of years with a stimulus check worth up to 1,000 dollars.
This includes full-time and part-time city employees, as well as those working in working in the police, fire department, and more.
Read more here about the Georgia stimulus check.
Any retirees in the state of Michigan are set to save themselves a lot of money, as a retirement tax is set to be repealed.
It is estimated that the withdrawal of this will see retirements make a saving of 1,000 dollars per year.
Read more here about the Michigan stimulus check.
Hello and welcome to this Monday’s American Finances live blog. As we do every day in this space, we will keep you up to date and in the know with the latest financial news and money-saving tips from across the United States
There will be information on stimulus checks that have been going out in various states, with programs in place in California, Michigan, Georgia, and Alaska at present.
What’s more, you can stay in the know with the latest developments when it comes to Social Security payments, finding cheaper gas, and much more.
You will also be able to find out some advice that could help when it comes to fighting against the rise in inflation in the U.S., which has hit highs that have not been seen in decades.
So, make sure you check our live blog throughout the course of the day to stay informed and keep as much money as you can in your pocket.
© Mayo 2022 Unidad Editorial Información Deportiva, S.L.U. All rights reserved.
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