CLAIM YOUR $10,200! Unemployment Extension UPDATE $400 FPUC PUA & Unemployment Benefits Stimulus
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CLAIM YOUR $10,200! Unemployment Extension UPDATE $400 FPUC PUA & Unemployment Benefits Stimulus
Here’s your unemployment update for Sunday, April 18th, 2021
The Federal Reserve’s newest board member has said the U.S. economy is set to take off this year as Americans get vaccinations and become comfortable engaging in a wider range of activities.
During a CNBC interview Waller said, “I think the economy is ready to rip. Everyone is getting a lot more comfortable with having the virus under control and we’re starting to see it in the form of economic activity.”
Waller said he expects, “the U.S. economy to grow by 6.5% this year, the inflation to rise by about 2.5% and for unemployment rate to drop to about 5% by year end.”
Despite the brighter outlook, Waller said the U.S. economy still has a long way to go before those targets are achieved.
He also stated, “Whatever temporary surge in inflation we see right now is not going to last.”
The hope is that lawmakers act quickly if inflation continues to surge, but this reflects that we are headed in a good direction for economic recovery.
Meanwhile, the New York State Department of Labor sent out emails saying that many people received a duplicate payment back in April of May of 2020 by mistake and now, under federal law, they are required to recover it.
Unfortunately, that means those impacted will see reduced benefits to 20% until the overpaid funds are recovered.
Those who are impacted will receive a letter in the mail with more information, including instructions on how to appeal or waiver to forgive this mistake.
Unless you file a waiver, the Department will start recovering those payments, so make you take active steps to get this issue resolved.
This is a really unfortunate circumstance that hurts so many despite it being a department mistake.
And finally, the IRS has sent out almost 68 million refunds already this year, but if you received unemployment compensation you may still be able to receive your $10,200.
Those that received unemployment benefits during 2020 were given a tax break on up to $10,200 of jobless aid claimed over the year which the IRS will have to retroactively apply to 2020 tax returns already received.
For those who still haven’t filed their 2020 tax return, they can claim the waiver when they file.
The IRS recommends filing electronically and using direct deposit to get your refund faster.
The IRS offers a couple ways that you can check the status of your refund.
You can use the agency's Where's My Refund? online tool or you can download the IRS2Go app to check your refund status.
If you received benefits last year, it’s worth checking if you're able to claim this extra $10,200.
#unemployment #stimulus #pua
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