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Biden plan calls for $1,400 direct payments, expanded tax credits

The Hill 14 Jan 2021

President-elect Joe BidenJoe BidenCotton ... The proposal comes after Biden expressed interest in increasing the payments in the December law to $2,000 ahead of the Senate runoffs in Georgia earlier this month, which Democrats won. Congressional Democrats have also said that providing direct payments of $2,000 is a top priority of theirs ... .......

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IRS watchdog: Millions of taxpayers had major problems receiving tax refunds, stimulus payments

The Hill 13 Jan 2021

The IRS “generally performed well” carrying out last year’s tax-filing season and issuing the first round of coronavirus stimulus payments, but millions of taxpayers encountered significant problems, according to a report issued Wednesday by the agency's in-house watchdog ... 24 ... .......

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Confirmation hearing for Biden Treasury pick Yellen expected next Tuesday

The Hill 12 Jan 2021

The planned hearing date is one day before Biden's inauguration. If confirmed, Yellen is expected to play a key role in the new administration's response to the coronavirus-related economic downturn. Yellen, a former chair of the Federal Reserve, would also be the first woman to serve as Treasury secretary.ADVERTISEMENT ... Capitol ... � .......

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IRS releases recommendations for improving taxpayer services, organizational structure

The Hill 11 Jan 2021

The IRS on Monday released a report to Congress that outlines strategies for improving its taxpayer service, employee training and organizational structure in response to bipartisan legislation Congress passed in 2019 ... The agency said that it is aiming to establish this position during the current fiscal year ... .......

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Democrats vow to deliver $2K checks with control of Senate

The Hill 08 Jan 2021

Democrats are vowing to forge ahead with providing $2,000 stimulus payments after their party won control of the Senate this week with victories in two Georgia runoffs where the checks played a key role. At a rally before Election Day, President-elect Joe BidenJoe BidenCapitol Police officer dies following riots Rep ... Sen ... .......

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IRS says it's working to redistribute stimulus payments sent to inactive accounts

The Hill 08 Jan 2021

The IRS said late Thursday that it is working with tax-preparation companies to get stimulus payments to people whose money was sent to inactive bank accounts ... "More information will be shared when available." ... Congress late last month passed legislation that provides for payments for most Americans of up to $600 per adult and per child ... .......

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TurboTax says it expects stimulus payments to be deposited in correct bank accounts after 'IRS error'

The Hill 07 Jan 2021

Tax-prep software giant TurboTax is telling customers that some people may not have received their stimulus payment because of an "IRS error" but that they expect the issue to be corrected "within days.". "The IRS recently began issuing a second round of stimulus payments to those eligible ... 15 ... .......

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Treasury starts sending 8 million stimulus payments by prepaid debit card

The Hill 07 Jan 2021

The Treasury Department and IRS said Thursday that this week they started distributing about 8 million second-round stimulus payments by prepaid debit card ... Treasury said the payments will be sent in white envelopes that prominently display the department's seal ... Debit cards are being sent to people in all 50 states ... � .......

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IRS starts challenging year with new round of stimulus payments

The Hill 06 Jan 2021

The IRS is kicking off a busy and challenging year by sending out the second round of stimulus payments to tens of millions of Americans. The agency has already distributed many of the $600 payments just a week after President TrumpDonald TrumpWarnock defeats Loeffler in Georgia Senate runoff The Memo ... households. On the evening of Dec ... .......

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Top Democrat: Outcome of Georgia runoffs will influence push for $2,000 checks

The Hill 04 Jan 2021

Democratic efforts to provide Americans with stimulus checks of $2,000 will be influenced in large part by the outcome of Tuesday's Senate runoffs in Georgia, a top House lawmaker said this week. "I think it's more contingent upon what happens on Jan ... But the bill was not taken up by the GOP-controlled Senate.ADVERTISEMENT ... Mike Lillis contributed....

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