IRS: IRS unveils online tool to help low-income families register for monthly Child Tax Credit payments

IRS: IRS unveils online tool to help low-income families register for monthly Child Tax Credit payments. “The Treasury Department and the Internal Revenue Service today unveiled an online Non-filer Sign-up tool designed to help eligible families who don’t normally file tax returns register for the monthly Advance Child Tax Credit payments, scheduled to begin July 15. This tool, an update of last year’s IRS Non-filers tool, is also designed to help eligible individuals who don’t normally file income tax returns register for the $1,400 third round of Economic Impact Payments (also known as stimulus checks) and claim the Recovery Rebate Credit for any amount of the first two rounds of Economic Impact Payments they may have missed.”

National Low Income Housing Coalition: NLIHC Launches ERA Dashboard and Updated ERA Program Table

National Low Income Housing Coalition: NLIHC Launches ERA Dashboard and Updated ERA Program Table. “NLIHC launched new Emergency Rental Assistance (ERA) tools to monitor trends in how ERA programs are operating and to help renters find assistance. These tools include an ERA Dashboard on how many and which programs are implementing best practices and an updated ERA program table to help renters locate programs in their areas. These tools include programs funded by the $25 billion Treasury ERA program appropriated by the December 2020 Consolidated Appropriations Act (ERA1).”

Missouri Veterans Commission: Missouri Veterans Commission and Missouri Department of Economic Development Launch New Benefits and Resource Portal for Veterans and Military Members

Missouri Veterans Commission: Missouri Veterans Commission and Missouri Department of Economic Development Launch New Benefits and Resource Portal for Veterans and Military Members. “In collaboration with the Missouri Department of Economic Development (DED) Office of the Missouri Military Advocate, MVC created the portal to serve as an informational tool and service guide to help Veterans find potential benefits and local resources.”

NBC News: Whether struggling or thriving, odds are you’re getting some stimulus cash

NBC News: Whether struggling or thriving, odds are you’re getting some stimulus cash. “The average household can expect $3,000 in direct tax benefits, according to an analysis by the nonpartisan Tax Policy Center, and about $6,000 if they have children. That doesn’t include the law’s boost to subsidies to buy insurance through the Affordable Care Act or its $300 weekly bump in unemployment pay.”

Wall Street Journal: Biden White House Chief Learns From Obama Mistakes to Sell Covid-19 Plan

Wall Street Journal: Biden White House Chief Learns From Obama Mistakes to Sell Covid-19 Plan. “White House chief of staff Ron Klain is trying to avoid the pitfalls of the last Democratic administration with his approach to President Biden’s $1.9 trillion coronavirus relief package: Don’t spend months pursuing Republican votes and don’t wait to start selling it to the public.”

The Invisible Hand: Personal Income, Consumer Spending rise significantly with the help of federal aid

The Invisible Hand: Personal Income, Consumer Spending rise significantly with the help of federal aid. “Personal income surged in January as Americans received $600 stimulus checks, leading to new optimism about the nation’s recovery from the pandemic. The monthly report issued by the Bureau of Economic Analysis for January noted a personal income increase of 10%, the second largest on record, was aided by federal stimulus checks and a $300 a week boost to unemployment benefits. Consumer spending had an increase of 2.4%, while the savings rate continued to rise at an extraordinary rate topping 20.5% for the month. ”

Washington Post: More than half of emergency small-business funds went to larger businesses, new data shows

Washington Post: More than half of emergency small-business funds went to larger businesses, new data shows. “More than half of the money from the Treasury Department’s coronavirus emergency fund for small businesses went to just 5 percent of the recipients, according to data on more than 5 million loans that was released by the government Tuesday evening in response to a Freedom of Information Act request and lawsuit. According to data on the government’s Paycheck Protection Program (PPP), about 600 mostly larger companies, including dozens of national chains, received the maximum amount allowed under the program of $10 million.”

Accounting Today: $7.2M in SBA coronavirus aid went to family’s fake farms

Accounting Today: $7.2M in SBA coronavirus aid went to family’s fake farms. “The single-family house on Forestview Avenue in Euclid, Ohio, a suburb of Cleveland, shows no signs of farming activity. The only things growing on the one-eighth-acre plot are trees, shrubs and grass. But 20 companies registered at that address, with names like Organic Ohio Berries LLC and Garlic Farming LLC, have won government approval for loans and grants intended to support small businesses hurt by the pandemic.”

Wall Street Journal: Hundreds of Companies That Got Stimulus Aid Have Failed

Wall Street Journal: Hundreds of Companies That Got Stimulus Aid Have Failed. “About 300 companies that received as much as half a billion dollars in pandemic-related government loans have filed for bankruptcy, according to a Wall Street Journal analysis of government data and court filings. Many of the companies, which employ a total of about 23,400 workers, say the funds from the Paycheck Protection Program weren’t enough to keep them going as the coronavirus and lack of additional stimulus payments weighed on their businesses.”

Syracuse: Need help paying for food or rent? NY has a new online site that could help you find resources

Syracuse .com: Need help paying for food or rent? NY has a new online site that could help you find resources. “The coronavirus pandemic has created historic unemployment, leaving record numbers of families struggling at exactly a time when it is difficult to go out and ask for help. The state has set up a new website to aid people across the state find help without leaving their homes.”

‘Doomed to fail’: Why a $4 trillion bailout couldn’t revive the American economy (Washington Post)

Washington Post: ‘Doomed to fail’: Why a $4 trillion bailout couldn’t revive the American economy. “The U.S. response to the coronavirus has already been the costliest economic relief effort in modern history. At $4 trillion, the assortment of grants, loans and tax breaks exceeded the cost of the Afghanistan war. More than half, or $2.3 trillion, went to businesses which in many cases were not required to show they were impacted by the pandemic or keep workers employed.”

DCist: D.C. Gave Cash Assistance To Undocumented Workers. It Barely Covered Essentials

DCist: D.C. Gave Cash Assistance To Undocumented Workers. It Barely Covered Essentials. “In June, Silvia Cordon heard about a new city program from her youngest son’s teacher. The program, called DC Cares, would provide undocumented workers left unemployed by the pandemic $1,000 in direct cash assistance. Cordon, a 42-year-old single mother who emigrated from Guatemala in 2017, was intrigued: She’d been laid off as a hotel housekeeper after COVID-19 hit and was struggling to pay her bills, including her $600 monthly rent for a room she shares with her 14-year-old son. So, with the teacher’s help, she applied for the program online.”