Consumer News: Banks of America raising hourly wages, stimulus checks boost Walmart sales and more!
Consumer News: Banks of America raising hourly wages, stimulus checks boost Walmart sales and more!
Stimulus checks
Study: Roughly a quarter of stimulus checks going towards spending
Most Americans who received stimulus checks are putting them into their savings accounts, instead of spending them right away. A survey by the Federal Reserve shows households intend to set aside 42% of their stimulus payments for a rainy day and 34% are using the coronavirus stimulus money to pay down debt.
IRS to send more money to those shorted on original stimulus payments
The IRS is sending out more money to people who were shorted in their original stimulus payments. The so-called “plus-up” payments are going to those whose 2020 tax returns show they are owed more money. One example is if you earned less money in 2020 than in previous years.
Consumer News: Social Security recipients could soon see relief checks, Spring Breakers fuel busy month for travel and more!
Social Security recipients will be among those who could soon receive their stimulus check. The Treasury Department and IRS are working on paying Social Security recipients and others who receive federal benefits.
Second batch of stimulus payments being issued this week
The second batch of stimulus checks will soon be on their way. The Biden administration says the second batch of COVID-19 payments will be issued this week. For taxpayers receiving direct deposit, payments began processing on Friday.
First batch of stimulus payments being sent out
The first batch of stimulus payments from the Biden administration’s $1.9 trillion COVID-19 relief package is rolling out. Direct deposits are going out first, with $1,400 for eligible people who make less than $75,000, heads of households who earn less than $112,000, will receive $500 and married couples who bring in less than $150,000.
Check your stimulus payment status on the IRS’ “Get My Payment” tool
If you are eligible for the next round of stimulus payments, you can check the IRS’ “Get My Payment” tool to see when you’ll get your money.
Wondering where your stimulus check is? It may be on its way
A second round of stimulus payments are on the way, but many people are wondering if and when they will receive the money.
Better Business Bureau warns of COVID-19 relief scams
With a new round of stimulus checks going out, the Better Business Bureau is warning us to look out for a new round of scams.
AP: Pelosi, McConnell discuss COVID relief as pressure builds
Capitol Hill’s top leaders have spoken about COVID-19 relief for the first time in a month.
