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On this episode of the Planned Solutions Incorporated Podcast, The IRS has directly deposited approximately 80 million stimulus payments to taxpayers who provided their direct deposit information via their income tax returns. However, there is still an estimated 50 million people who qualify for a stimulus payment but have not yet received it. There are a number of reasons why these payments have been delayed leading to some misunderstandings and frustration. And, There are several economic relief options available to individuals who are negatively impacted by the Coronavirus. Some of these options are attractive from a financial standpoint. Others may need to be paid back with interest or come with negative tax implications. Therefore, it is important to weigh your options carefully to avoid unexpected future costs. Also,Excess distributions (those not used to fund qualified educational expenses) from 529 college savings accounts may be subject to income taxes and penalties on the investment gains. This may create a problem this year as some colleges and universities may issue partial refunds due to the shortened on-campus educational quarter or semester. In this case 529 plan owners may want to return distributions to their 529 plans to avoid taxes and penalties. Plus a look at the Planned Solutions Incorporated Office Bulletin Board-The majority of us at Planned Solutions continue to work from home. There is some limited staffing at the office to collect the mail, print and mail forms, and scan in documents for those that need access to them. We will continue to social distance until the State of California and Sacramento County lift the economic restrictions and allow us to return to the office full-time again. In the meantime, we are available by phone, e-mail, and the Zoom video conferencing application. We will continue to contact clients to conduct our regular account review meetings and to discuss any other issues that need to be addressed. There is a bit of a backlog due to the business disruptions we experienced in March. However, if you would like to meet please feel free to be reach out to us to set up a meeting using whichever format is most convenient for you To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail Katie@PlannedSolutions.com The Personal Finance Review is published and distributed on a biweekly basis by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action. Planned Solutions, Inc. ADDRESS: PHONE: 1130 Iron Point Road, Suite 170 (916) 361-0100 Folsom, CA 95630 (800) 750-2111 E-MAIL: FAX: Shannon@PlannedSolutions.com (916) 361-0191 WEB SITE: www.PlannedSolutions.com #finance #invest #investment #stocks #estateplanning #bonds