Gas prices continue to soar and the rise of inflation begins to have an effect on the cost of day-to-day necessities for millions of Americans. That said, some measures are being taken by both federal and state governments to attempt to cushion this blow, by introducing programs that try to offset the spiralling costs around us in the United States.
In our live blog on the latest American financial news and advice this Saturday, April 2, we will have updates on all these stories and much more.
Still time for Employee Retention Tax Credit
Although Employee Retention Tax Credit expired at the end of 2021, there’s still time for it to be claimed by eligible businesses who haven’t already claimed it.
There’s no size limit on ERTC, though small and large businesses are treated differently. Employers with 100 or fewer full-time employees have all wages qualify for the credit, whether the employer is open for business or subject to a shutdown order.
Read more about ERTC here.
Delays regarding federal tax refunds
Some US citizens are having to wait longer than they expected to receive their tax refunds. Although some 52 million people have received theirs, others have not been so fortunate.
Money typically arrives within 21 days of the refund being filed and the IRS say they are prioritising returns with refunds over those owing money. Refunds could, though, be stuck in processing queues if they were filed by a paper return.
Read more here about tax return refunds.