U.S. Finance Updates: Gas Stimulus Check, Medicare, Tax Deadline…
Sstay tuned to our live blog Sunday, April 10, 2022, to stay up to date with the latest US financial news. We’ll provide the latest and greatest updates on rising gas prices and the controls being sought to cushion that blow, as well as news on health insurance and tax deadlines.
Tough financial times loom as gasoline prices soar across the United States, and rising inflation is beginning to have an effect on the cost of daily necessities for millions of Americans. Although the federal and state governments are partly responsible due to the impact of the prolonged coronavirus measures, they are currently implementing certain measures to try to cushion this blow, by introducing programs that try to offset the spiraling costs across the country.
In our live blog on the latest US financial news and advice this Sunday, April 10, we’ll have updates on all of these stories and more.
Gas prices are starting to drop
There is finally some good news when it comes to gasoline prices in the United States, as they are starting to drop across the country.
There have been declines of eight cents on average in the United States, which is explained by the government’s plans to release more oil.
State receives $500 rebate checks
Although federal stimulus checks are a thing of the past, states can still distribute checks if they wish and that is what is happening in New Mexico.
There, lawmakers passed a bill that will send $500 checks in two installments over the next few months, with the first likely scheduled for May and June.
You can learn more here about $500 refund checks in New Mexico.
Know your health insurance rights
A Local coverage determination (LCD) may initially prevent you from claiming a particular item or service on Medicare, but keep in mind that it may be possible to appeal such a decision.
You can appeal if you need the item or service that is not covered by the LCD and if you are eligible for Medicare Part A benefits (hospital insurance), if you are enrolled in Medicare Part B (insurance medical), or both.
You can learn more here about filing an appeal against a Medicare LCD.
Next steps after student loan payment suspension
As another pause in student loan payments has been approved, US politicians are now considering the next steps for the country’s student loan problem.
Senator Patty Murray has now called on the government to cancel some of the debt for all borrowers, fix the broken student loan system and extend the payment break until 2023 to achieve this.
What happens to unclaimed IRS refunds?
If you don’t collect your tax, the money will go to the Treasury Department. Unclaimed money will be applied against any amounts still owed to the IRS or a state tax agency. It could also be used to offset unpaid child support or overdue federal debts, such as student loans.
People in the United States must file their 2021 tax returns by April 18 to avoid possible consequences.
Learn more about tax due dates and what happens to unclaimed refunds here.
Final Gas Stimulus Check
Gasoline prices are at an all-time high, pointing to bleak times for ordinary Americans who continue to see higher prices at the pumps.
Some sections of Congress are pushing for the Gas Rebate Act of 2022 that would give Americans $100 in an effort to combat soaring gas prices, targeted at people earning $75,000 or less.
Learn more about the gas stimulus check here.
Tax Deadline 2022
April 18 is the last day to file your tax returns in the vast majority of states. However, if you are not on time, you can request a tax extension before this date.
File an automatic U.S. Personal Income Tax Return (PDF) Filing Deadline Extension (Form 4868) on or before your return’s usual due date. If you do not correctly estimate your tax, you will be deemed not to have filed a valid request for an extension and you may be charged a late filing penalty.
Learn more about the Tax deadline 2022 here.