A nationwide moratorium on evictions spared millions of people struggling to pay their bills, but the same didn't happen for utilities. many companies allowed a grace period for people struggling to pay their bills. But that's mostly ended. Now hundreds of thousands of Floridians have had their power shut off, and money earmarked for residential relief hasn't been able to help everyone.
More than 2,600 Tallahassee residents have had their power shut off since April. To try and help people keep or restore their power local governments have been using federal relief money to pay residents' past due balance. James Barnes, the city's chief customer officer, explains.
Apparently Money Really Does Grow On Trees!
Distortions from March's helicopter money drop continue to cloud the forecast horizon. In nominal terms, income fell -13% M/M in April. This shouldn't have been a surprise given that the free money raised March's nominal income by 21%! Another distortion appeared in core PCE (Personal Consumption Expenditure) prices (the price index most watched by the Fed). It rose +0.7% in April, mainly on the back of reopening (rising prices of air fares, hotels, used cars).
April's nominal growth rate in consumption was +0.5% M/M, but when rising prices are factored, in real terms, consumption fell -0.1%. Here's the kicker – something we've discussed in several prior blogs: services spending did rise +0.6% (actually a disappointment given reopening), but spending on goods fell -1.3%, i.e., the start of our pent-down demand hypothesis.
Dispel the myth that some groups are 'bad with money' | The Gazette
Money is a close third on the list of taboo subjects. People take finances seriously, personally and with an air of privacy; few want unsolicited input.
Conventional wisdom associated with financial literacy assumes a shared value placed on security, earning, saving, spending, sharing resources. It emphasizes focused financial management; saving for emergencies as well as retirement and other goals; careful budgeting and investing; identity security; and shrewd borrowing decisions.
Money Now, Taxes Later With Prepaid Forward Contracts
You also don't want to learn later that you cannot deduct a big payment of proceeds to the funder, or somehow offset it against income from the transaction that generated the proceeds. A prepaid forward contract may involve the sale of stock or other assets. It may involve the assignment of some or all of a lawsuit claim or its proceeds. Many fact patterns are possible with stock sales or litigation finance. But the tax issues are nuanced and can be confusing.
Money changes hands, but there should be no immediate taxable event to the seller if the future sale involves a variable amount of proceeds. Until the closing, it is impossible to determine how the advance payments should be reported. The key IRS tax authority is Revenue Ruling 2003-7, 2003-5 IRB 1, where the IRS approved open transaction treatment for a variable prepaid forward contract involving the sale of stock.
Here's what you should do before you take that VC Money | Silicon Canals
No tax refund yet? Use IRS tools to track your money now - CNET
The agency has two tracker tools that can help you check your refund's status. You can see if there's something that's making your refund take longer than usual to get to you. Of course, you could also try calling the IRS for help, but the agency warned that assistance is "extremely limited" right now. We'll tell you the best way to find out more information.
Both the IRS tools (online and mobile app) will show you one of three messages to explain your tax return status.
Danville treasury staff helps residents find missing money | Govt. and Politics | godanriver.com
The Danville's treasurer's office, along with the Virginia Department of the Treasury, is bringing another unclaimed property virtual call event this week to help residents who might be owed funds they don't know about.
Customers can call 1-833-302-0704 from 10 a.m. to 4 p.m. on Thursday and Friday to have staff check their name for missing money.
During the last event held in December, Treasury workers looked up more than 1,000 names over a two-day period. They found $80,690.
Why Some Money Experts Believe In Bitcoin and Others Don't
Privacy is Bitcoin's biggest advantage over traditional financial transactions. That, along with its loose regulations and exchange-rate perks, makes it a medium of exchange whose popularity shows no sign of waning.
Albert Einstein is quoted as saying, "if you can't explain it to a 6-year-old, you don't understand it yourself." Do you know anyone who could explain cryptocurrency to a 6-year-old? The very concept of a currency not backed by a government or financial institution is completely alien to most, as is the technology used to develop it, the way it's "mined" and the market forces that give it its value.
Four of five money bills now introduced at Legislature | Serving Carson City for over 150 years
Are you owed money from an employer? How to check and claim unpaid wages - CNET
Is the federal government holding unpaid wages from an employer that you need to claim? It's pretty easy to find out. The Department of Labor recovered $257 million in back pay in 2020. The cash was recovered from employers who owed workers money due to paying less than minimum wage, for instance, or withholding overtime pay.
Over the last five years, the Wage and Hour Division of the Department of Labor has recovered back wages for more than 1.3 million workers. If the government agency discovers that an employer owes you back wages, it can make the company pay out the difference. However, if the agency can't locate you to give you the money (for example, you moved or changed your name), it will hold onto the back wages for you to claim.
Happening on Twitter
Do not underestimate the utility of causing government employees to feel that the sanctity of their lair has been v… https://t.co/fQ2YiTsLha michaelmalice (from Brooklyn) Sat May 29 14:30:44 +0000 2021
Lawmakers promised they would ensure there is never another #TexasBlackout. They failed. Instead, Texans will pay $… https://t.co/jm9Ov21PZM cltomlinson (from Texas) Fri May 28 13:36:04 +0000 2021
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