Finance

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...

Beginning in September 2024, major financial institutions in the United States, including Bank of America, Wells Fargo, JP Morgan Chase, and Citibank, will no longer accept certain $50 bills. This decision follows the Federal Reserve’s initiative to update currency circulation with modern designs and enhanced security features, while phasing out older, less secure notes. Why Are Some $50 Bills Being Phased Out? The Federal Reserve's announcement is part of a broader effort to improve the overall security and reliability of U.S. currency. Specifically, some older $50 bills that are worn out, damaged, or mutilated will no longer be accepted by banks and ATMs. The change is aimed at reducing the risk of counterfeit notes and ensuring that the money in circulation is up-to-date and well-...

Walmart, Sam’s Club, and Costco have launched a refund program for consumers who purchased tuna from the brands StarKist and Lion Capital between June 2011 and December 2016. This refund is the result of a court ruling that found these companies guilty of engaging in illegal price-fixing practices, inflating the cost of tuna products sold during that period. Why Are Refunds Being Offered? The U.S. Department of Justice's Antitrust Division conducted a thorough investigation starting in 2015, which uncovered that both StarKist and Lion Capital had colluded to fix tuna prices at artificially high levels. This illegal activity violated U.S. competition laws, which are designed to protect consumers from unfair market practices. The price-fixing scheme affected millions of consumers acros...

The Supplemental Nutrition Assistance Program (SNAP), formerly known as Food Stamps, is set to provide additional financial relief to approximately 14,000 more residents, thanks to new guidelines. These changes, aimed at addressing growing economic inequalities and rising living costs, are particularly crucial for states like Hawaii, where the cost of living is notably high. Under the updated rules, more families will qualify for SNAP benefits, which provide up to $3,200 annually. The revisions to Broad-Based Categorical Eligibility (BBCE) give states the flexibility to eliminate asset limits and raise income thresholds, allowing even households with savings or slightly higher incomes to qualify. This expansion is a significant step in reducing food insecurity for working-class families...

The Alaska Permanent Fund Dividend (PFD) program is offering a $3,200 stimulus check to its residents this year, providing much-needed relief for many families. The PFD, established to distribute oil and mineral wealth to Alaskans, serves as an important financial boost, especially during challenging economic times. Who is Eligible for the Stimulus? To qualify for the PFD stimulus check, individuals must be permanent residents of Alaska, meaning they have lived in the state for the entire previous calendar year. Temporary residents or newcomers do not qualify, as the program aims to reward those contributing to the local community and economy long-term. Additionally, those with a criminal record are ineligible for the stimulus check, ensuring that the funds are directed towards la...

Starting October 1, 2024, CalFresh recipients in California will see a slight increase in their Supplemental Nutrition Assistance Program (SNAP) benefits due to the 2025 Cost-of-Living Adjustment (COLA). Though the increase is modest, it aims to help low-income families as grocery prices rise. What is CalFresh? CalFresh is California’s version of the federal SNAP program, providing financial assistance to low-income households to purchase nutritious food. The program is designed to alleviate hunger and improve the health of residents who qualify for assistance. 2025 COLA Increase: What to Expect The 2025 COLA will bring minor increases to CalFresh benefits. For instance, a single-person household will see their benefits rise from $291 to $292. Similarly, a family of four will r...

Starting October 1, 2024, Supplemental Nutrition Assistance Program (SNAP) benefits are set to increase to help low-income households cope with rising grocery prices. Although these increases are modest, they come at a time when inflation continues to push food costs higher. New Maximum SNAP Benefits For households in the 48 contiguous states and Washington D.C., the new maximum monthly benefits are as follows: 1-person household: $292 2-person household: $536 3-person household: $768 4-person household: $975 5-person household: $1,158 6-person household: $1,390 7-person household: $1,536 8-person household: $1,756 For each additional person, an extra $220 is added to the monthly allotment. Last year’s increases were slightly higher due to more severe inf...

As inflation continues to drive up the cost of groceries, SNAP benefits are set to increase slightly beginning October 1, 2024. The Supplemental Nutrition Assistance Program (SNAP), formerly known as the Food Stamp Program, provides financial assistance for low-income families to help cover grocery costs. This year's increase in SNAP benefits will offer some relief, although it is modest compared to previous years. New Maximum SNAP Benefit Amounts Starting October 1, 2024, the new maximum SNAP allotments for households in the 48 contiguous states and Washington D.C. will be as follows: 1 person: $292 2 people: $536 3 people: $768 4 people: $975 5 people: $1,158 6 people: $1,390 7 people: $1,536 8 people: $1,756 For each additional person, the household wi...

The 2025 Cost of Living Adjustment (COLA) is set to increase Supplemental Nutrition Assistance Program (SNAP) benefits for millions of Americans. This adjustment, which occurs annually, is aimed at helping low-income households keep up with inflation and rising living costs, especially in essential areas like food, housing, and utilities. With inflation impacting the price of goods, the COLA ensures that SNAP benefits are more reflective of current economic conditions. Updated SNAP Benefit Levels for 2025 Starting in 2025, households receiving SNAP benefits will see their monthly payments increase to the following maximum amounts, depending on household size: 1 person: Up to $304 2 people: Up to $558 3 people: Up to $799 4 people: Up to $1,015 5 people: Up to $1,205 ...