Did you receive a tax refund this year? Recent data released by the Internal Revenue Service (IRS) shows the average tax refund amount is up $178 at the end of March 2024 compared to the same time last year.
Tim Fogerty, Managing Director of First Bank Commercial Banking and Kate Mayfield, Director of Credit Underwriting at First Bank provided updates from the COVID-19 Relief Economic Aid Act passed at the end of December, including information on Second Draw PPP Loans. They also provided information on how to apply for a second draw loan with First Bank.
First Bank’s Center for Family Owned Businesses held a webinar on January 12th covering COVID vaccinations and if employers can require them.
Over the past 12 months, we have endured a global pandemic resulting in numerous deaths and hospitalizations, mass layoffs, a sinking economy, and a contentious presidential election. Our lives and lifestyles changed, where working and learning from home became the "new normal," and in- person communication was replaced by virtual meetings. In short, 2020 was a very memorable year that tested our resolve, patience, and courage.
Every year, the College Board releases updated college cost data and trends in its annual report.
U.S. consumer spending accounts for about two-thirds of all economic activity, so it's good news that many businesses and consumers have adapted quickly to the new normal created by the pandemic.
On Sunday, December 27, 2020, the Consolidated Appropriations Act, 2021 (CAA 2021) was signed into law. Major relief provisions are summarized here, as well as some additional tax provisions.