Today is Thursday, April 23 and we see that the market is up as oil prices begin to climb back, weekly jobless claims hit 4.4 million and the new aid for small businesses is likely used up already. We are also reading about how to protect yourself from stimulus check scams and if you have an old tax bill with the IRS, why you should pay it now.
Stocks rose on Thursday as oil prices recovered even more ground after a historic plunge while Wall Street digested the latest U.S. unemployment and earnings data.
Jobless claim filings continued at a historically unprecedented pace last week with 4.4 million new signups for unemployment insurance, bringing the total of the past five weeks to 26.4 million, the Labor Department said Thursday.
The more than $300 billion set aside to replenish the emergency loan program for small businesses impacted by the coronavirus pandemic is likely already all spoken for, banking industry groups said Wednesday.
If you’re still waiting for your coronavirus stimulus payment, a paper check could be in the mail. While many will be eager to receive their checks, they should be on the lookout for fraud.
The IRS isn’t processing paper returns right now as they deal with distributing coronavirus stimulus checks. While that’s not an issue for most taxpayers, who currently have until July 15 to turn in their 2019 federal income tax returns and pay any amounts owed, it is a big problem for people who have to file amended returns. These can only be processed on paper. The solution: if you owe something for prior years, pay it now as penalties and interest continue to pile up.