( CBS Detroit ) — A third stimulus check, worth $1,400, is currently progressing through Congress as part of the Biden administration’s $1.9 trillion relief package. The American Rescue Plan also features increased unemployment benefits, a higher child tax credit and a $15 minimum wage, as well as billions more dollars to stop the spread of COVID-19. These and other programs are meant to aid millions of Americans facing financial hardship brought on by the pandemic and support the economy as vaccinations continue. How the bill evolves in the coming days will determine how much money actually reaches the public. President Biden and politicians from both parties support giving Americans another stimulus check. And they support doing it quickly. However, Republicans have pushed back against the overall price tag and other specific aspects of the plan, like the minimum wage hike. Democrats control both houses of Congress and are willing to pass stimulus legislation on a straight … [Read more...] about Stimulus Check Latest: Will Your Next Relief Payment Be $1,400?
Late tax credit payment
MILLIONS of people on Universal Credit and other benefits are still missing out on a bonus worth up to £1,200 from the Help to Save scheme. As part of Help to Save , you get 50p for every £1 you set aside into a special account, up to a maximum bonus of £1,200 over four years. To get the maximum bonus, you would need to save £2,400 over the four years. Around 264,800 people have opened a Help to Save account since its launch in September 2018 , according to new figures released by the government today. It means millions of people are still missing out on opening an account and cashing in on the tax-free bonuses. When the Help to Save scheme first opened, more than 3.5million people were estimated to be eligible for an account. Best savings accounts for your cash right now HELP to Save offers a higher effective rate of interest than what you'd earn with a regular savings account or bank account. For example, the top easy-access savings accounts right … [Read more...] about Millions on Universal Credit still missing out on Help to Save £1,200 bonus
THE rumour mill is gathering pace with the Budget just days away. Chancellor Rishi Sunak is believed to be plotting a pensions raid and business tax hike alongside more support for workers and struggling families. The Budget will be held on Wednesday March 3. The Chancellor takes centre-stage as he outlines the government's plans for tax hikes, cuts and things like changes to Universal Credit and the minimum wage. It is due to take place at around 12.30pm, once Prime Minster's questions ends in the House of Commons. The update is likely to focus on the economic fallout from the coronavirus crisis. What is the Budget? THE Budget is when the government outlines its plans for tax hikes, cuts and things like changes to the minimum wage. It's different to the Spending Review , which sets out how much public cash will go towards funding certain departments, devolved government's and services, such as the NHS. The Budget is read out in the House of Commons … [Read more...] about Budget 2021 predictions including furlough and universal credit extension
ZURICH: Credit Suisse on Thursday said it plans to up lending volumes and capitalise on a boom in share listings to shore up revenue, after low interest rates and legal charges tipped the bank into the red in the fourth quarter. Switzerland's second-largest lender posted a 353 million Swiss franc (US$392.8 million) net loss for the last quarter after booking 757 million francs in legal charges, beating analysts' forecasts for a 566 million franc loss but leaving annual profit down 22per cent. The bank is now looking to boost its wealth management business by building up its China onshore presence and expanding elsewhere in Asia-Pacific, Chief Financial Officer David Mathers told Reuters in an interview. It is also looking to allocate more capital to its international wealth management division outside Asia to ramp up lending, and said it saw net interest income beginning to steady after interest rates put pressure on the business last year. The bank's shares were down … [Read more...] about Credit Suisse plans lending drive after smaller-than-expected fourth quarter loss
MEXICO CITY: Mexico's government plans to seek more than US$500 million from Canadian miner First Majestic Silver Corp in what it says are owed taxes for artificially keeping its silver prices low over the past decade, two sources told Reuters. Audits dating back to 2010 show that the company owes about 11 billion pesos (US$534.36 million), the sources said. So far, Mexico's Tax Administration Service, or SAT, has sought 5.5 billion pesos (US$267.18 million) in tax debt, with the remaining half of the total yet to enter into formal disputes, according to the sources. Officials are also doubling down on an effort to criminally prosecute First Majestic's local unit, Primero Empresa Minera, for tax fraud related to the scheme, even after a judge held off on filing charges on Thursday, the sources and another person with direct knowledge of the case said. Under President Andres Manuel Lopez Obrador, authorities have taken a hardball approach to squeezing taxes out of … [Read more...] about Exclusive-Mexican tax authorities to seek over US$500 million from Canada’s First Majestic