Finance

Over 71 million U.S. retirees, VA veterans, and disability beneficiaries are anxiously awaiting news of the 2025 Social Security Cost of Living Adjustment (COLA) increase. With inflation continuing to impact everyday expenses, the COLA is vital in helping retirees keep up with rising costs. Predicted 2025 COLA Increase: 2.5% Experts predict that the 2025 COLA will bring a 2.5% increase to Social Security payments. This estimate follows the 2024 increase of 3.2%, a figure the same experts accurately forecasted last year. Although this year's increase is expected to be lower, it still provides essential relief for millions of Americans who rely on Social Security as a primary source of income. Official Announcement Date The U.S. Government has set October 10, 2024, as the officia...

A significant number of taxpayers who chose to receive their IRS tax refunds via mail have fallen victim to a widespread theft operation, according to a report by The Wall Street Journal. Over 200 individuals have reported that their refund checks, some valued at up to $500,000, were stolen. This large-scale fraud has resulted in millions of dollars in losses, sparking concerns over the security of mailed IRS refund checks. Representative Nicole Malliotakis Responds to Stolen Checks Nicole Malliotakis, a Republican representative from Staten Island, has taken on 218 cases involving stolen refund checks, amounting to $3.8 million in missing funds. One of her constituents faced the issue of having to refile multiple times to receive their refund, only to have reissued checks stolen as ...

Social Security Disability benefits play a vital role in supporting millions of U.S. citizens who are unable to work due to disabilities. As inflation continues to impact living costs, beneficiaries eagerly await the 2025 Cost of Living Adjustment (COLA) to help cope with rising expenses. Although the official COLA announcement is yet to be made, there are already predictions for the increase in monthly payments for disability recipients. What Is the 2025 Disability Benefit Increase? The Senior Citizens League has estimated that the 2025 COLA could bring a 2.5% increase to Social Security payments. This means that individuals receiving disability benefits, or SSDI (Social Security Disability Insurance), could see their checks rise accordingly. For those receiving the maximum SSDI ...

The Supplemental Nutrition Assistance Program (SNAP), commonly known as Food Stamps, provides crucial financial assistance to millions of low-income households in the United States. With rising inflation, the USDA has announced a cost-of-living adjustment (COLA) for SNAP recipients in October 2024. While the increase may not be substantial, it will offer some extra support to those who rely on these benefits. How SNAP Payments Are Scheduled Unlike Social Security payments, which are based on a recipient's retirement date or birthday, SNAP payments are distributed on different dates depending on the state. Each state has its own schedule for SNAP payments, which typically occur between the 1st and the 28th of the month. It's important for recipients to check their state's specific cal...

New Jersey is easing the financial strain of its high property taxes through the ANCHOR (Affordable New Jersey Communities for Homeowners and Renters) program. Eligible homeowners and renters can receive up to $1,750 in stimulus checks, offering substantial financial relief in a state where the cost of living, particularly housing, is high. What is the ANCHOR Program? The ANCHOR program was created to support both homeowners and renters facing the burden of high property taxes. Homeowners with incomes up to $150,000 can receive a $1,750 check, while those earning between $150,000 and $250,000 are eligible for $1,000. Renters earning up to $150,000 qualify for a $450 check. This tiered system ensures that relief goes to those who need it most, offering support that helps offset hou...

Starting October 4, many states in the U.S. will begin issuing Supplemental Nutrition Assistance Program (SNAP) payments to eligible recipients. While some states initiated payments on October 1, others—such as Alabama, Arkansas, Maryland, Minnesota, and Mississippi—will begin distributing benefits from October 4. These payments provide vital financial support, helping low-income families and individuals purchase food using Electronic Benefit Transfer (EBT) cards. Overview of SNAP Benefits SNAP, formerly known as food stamps, is an essential aid program for millions of Americans. The amount of assistance a recipient receives depends on factors such as household size, income, and local living costs. In 2025, after a recent Cost of Living Adjustment (COLA) increase, the maximum monthly...

New York City has unveiled a new initiative designed to provide additional financial support to residents receiving Supplemental Nutrition Assistance Program (SNAP) benefits. Dubbed the ‘Money in Your Pockets’ initiative, the program aims to raise awareness about the benefits available to low-income households across 20 neighborhoods. By increasing access to resources and promoting healthier food options, the initiative is a significant effort toward alleviating financial stress for New Yorkers. The program includes a major component called ‘Get the Good Stuff,’ which incentivizes healthier eating by offering a dollar-for-dollar match on select food purchases. For every dollar spent using SNAP benefits on eligible fruits, vegetables, and beans, participants receive an equal amount o...

Alaska’s Permanent Fund Dividend (PFD) program is set to distribute its annual stimulus checks to eligible residents in 2024. The PFD aims to share the state’s resource revenue with Alaskans, providing financial relief through the income generated from oil and mineral wealth. However, for 2024, there has been some confusion regarding the exact amount residents will receive, with initial estimates of $3,200 now adjusted to $1,702 for many recipients. Why Did the Amount Change? The stimulus check amount for Alaska residents is tied to state revenues, which are influenced by fluctuating oil prices. In May 2024, it was announced that residents would receive a $3,200 dividend. However, the amount was recently updated to $1,702 on the official PFD website, causing concern and confusion amo...

Starting October 2024, many elderly and disabled residents in Colorado will qualify for a $1,112 stimulus check through the Property Tax Credit (PTC) program. This initiative aims to provide financial relief to seniors and individuals with disabilities, particularly during the colder months when living costs such as heating bills increase. Eligibility Requirements for the $1,112 Stimulus Check Not all seniors in Colorado are automatically eligible for the stimulus check. To qualify, applicants must meet specific criteria: Residency: Applicants must have been Colorado residents for the entire year of 2023. Age: Most applicants must be 65 or older, but surviving spouses aged 58 or older and individuals with disabilities of any age are also eligible. Income Limits: Single fil...

While most Americans have already received their stimulus checks, some individuals, particularly those who do not regularly file tax returns, may still be missing out on their 2021 Economic Impact Payment. The IRS has set a deadline for claiming these unclaimed stimulus checks, offering eligible taxpayers time to file and secure their payment. When Is the Last Day to Claim Your 2021 Stimulus Check? Although the 2020 Recovery Rebate Credit is no longer available, the 2021 credit can still be claimed. The IRS has confirmed that taxpayers have until April 15, 2025, to file a claim for the 2021 stimulus check through the Recovery Rebate Credit. Even if you typically don't file taxes, you are required to submit a 2021 tax return to receive the payment. This announcement is particularly...