Tax relief

The Internal Revenue Service said Friday that the third round of Economic Impact Payments will begin hitting taxpayers’ bank accounts as early as this weekend.

Members of Congress are proposing bipartisan legislation to extend the deadline for Paycheck Protection Program loans another two months as accountants press for more time on the expiring program.

The president's first major legislative achievement will offer aid to tens of millions of individuals, businesses, and state and local governments.

Just under a month into federal tax filing season, the IRS reported a 32 percent slide in the number of refunds sent out compared with last year, showcasing delays that have spurred Democrats to call for postponing the traditional April 15 deadline.

President Biden signed the American Rescue Plan Act into law Thursday, triggering the release of $1,400 Economic Impact Payments along with tax breaks for stimulating the economy.

Households will begin receiving the $1,400 stimulus payments included in the pandemic-relief bill approved by Congress before the end of March, according to the White House.

The legislation includes a massive, one-year expansion to the child tax credit program aimed at curbing child poverty, a change Democrats are already seeking to make permanent.

President Joe Biden’s $1.9 trillion COVID-19 relief bill cleared its final congressional hurdle Wednesday, with the House passing the bill on an 220 to 211 vote, sending it to the president for his signature.

The House is poised to send the $1.9 trillion COVID-19 relief plan to President Joe Biden for his signature, providing an economic boost that will last long after $1,400 stimulus checks start arriving in Americans’ accounts this month.

President Joe Biden is on the cusp of his first legislative win with the House ready to give final passage to his $1.9 trillion COVID-19 relief plan. It includes a big expansion in the child tax credit and makes student loan forgiveness tax free.