Financial and Economic Brief - January 1, 2021by © Liberty Publishing, Inc.
Trump Signs New Covid Stimulus Bill – The Highlights
The new legislation, signed on December 27, 2020, has something in it for everyone; and more may be coming!
Americans will be receiving direct deposits to their checking accounts or checks mailed directly to them. Many businesses have been pummeled by the pandemic and the SBA will be rolling-out a new Payroll Protection Program (PPP) with loan forgiveness. Restaurants will be given an edge because of the number of closings and jobs lost. Here’s a concise evaluation and breakdown.
Is there a migration movement from the city to the Farm? – Surprising Stats
Many Americans believe that the Covid-19 Pandemic has caused many to uproot their families and move out of the cities to the suburbs or the rural countryside. Actually, the real migratory numbers over the past decade or two have been less than the migratory patterns of the last century. And, while much has been said about pandemic home sales rising in certain areas, this may only be a temporary phenomenon.
What are your chances of an IRS audit? The IRS Releases the Numbers.
One of the most unsettling times in a person’s life is the dreaded IRS audit. It frequently requires a lot of time, money, and more frustration than many people are accustomed to. What are your chances of having the IRS knock on your door? Well they don’t keep it a secret. Here is the full breakdown by income and percentages of tax returns audited.