Connect with us

Hi, what are you looking for?

Finance

Stimulus Check: How To Get $7,200 Next Year? Here’s What You Should Know

For advance Child Tax Credit payments, parents who have not yet registered for such might have to wait until next year. However, it is probable that a number of families will be disseminated up to $7,200 in Child Tax Credit payments from the IRS in 2022.

The Child Tax Credit program has bolstered from the earlier $2,000 annual mark to $3,600 yearly. This enables families to claim $300 per child under six years old and $250 per child from six to 17 per month.

Stimulus Check

A number of families may get up to $7,200 in Child Tax Credit 2022 from the IRS. (Photo: The US Sun)

Child Tax Credit Update

Here is news regarding Democrats’ compromise $1.75 trillion spending plan: Its outline was issued on Thursday. The most recent child tax credit update is that the spending bill framework involves an extended version of the credit for another year. This translates that adding up to the stimulus checks per month in 2022, families would receive the second half of their 2021 child tax credit at tax time, which is upon filing their federal income tax return. Such plans remain open to being altered though.

Read Also: Stimulus Check Update: Low-Income Americans To Receive Almost $4,000 Before the Year Ends, Here’s What You Need To Know

$600 Credits for 12 More Months

If Democrats could expand the program through 2022 as part of President Joe Biden’s Build Back Better initiative, this would translate that $600 credits for 12 more months will amount to $7,200. A number of legislators would like to extend the benefit for another year. The Biden administration earlier proposed expanding the enhanced credit until 2025. Meanwhile, a number of lawmakers would like its permanence, reported The Sun.

Delay

Due to the postponement, a number of families will actually be qualified for $7,200 per child in 2022 if they did not register for the tax credit but were eligible for it in 2021. There are mere two payments remaining this year as the November opt-out deadline looms.

Next Child Tax Credit Deadline

The following child tax credit payment is on November 15. The IRS bases the qualification of your child on their age as of December 31 this year. Parents with dependents 18 years old and older are not qualified for a monthly payment but could be qualified for a single yearly payment of $500 next year. Such children must be claimed as a dependent, or dependents, aged between 19 and 24 and should be full-time college students to be eligible.

Related Article: 2022 Social Security Increase Reaches Biggest Boost in 40 Years; Retiring Later Could Bolster Benefits

Finance

Hyatt Raises $1 Billion in Bonds to Fund Major Playa Acquisition

Hyatt Hotels Corp. has taken a big step forward in its plans to acquire Playa Hotels & Resorts NV, raising an impressive $1 billion through bond sales this week. This move is part of the company’s strategy to finance the $2.6 billion purchase, which is seen as a significant expansion in the hospitality market.

The Big Deal

On Monday, Hyatt successfully sold $1 billion in bonds aimed at funding this ambitious acquisition of Playa Hotels & Resorts, a well-known hotel brand that operates in various tropical and beach destinations. This sale is not just about raising money; it also indicates Hyatt’s confidence in the growth potential of the hospitality industry as it emerges from the challenges of the past few years.

Bonds with Benefits

The bond sale was structured into two parts: $500 million worth of three-year bonds and another $500 million in seven-year bonds. These bonds are being offered at attractive rates, with the three-year bonds yielding 1.05 percentage points more than government Treasury bonds and the seven-year bonds yielding 1.55 percentage points above Treasuries. This means that investors are interested and confident in what Hyatt is doing!

Important Deadline

What’s noteworthy about this bond sale is a special clause linked to the Playa acquisition. If Hyatt doesn’t finalize the acquisition by October 9, then the bonds will be redeemed at a premium price of 101%. This adds a bit of urgency to the deal, making it clear that everyone is eager to see Hyatt close this transaction as planned.

Market Activity

This bond sale comes at a time when many borrowers are seizing the moment to raise funds before the Federal Reserve meets this week to discuss monetary policy. As the economy continues to recover, financial markets are bustling and companies like Hyatt are taking advantage of favorable conditions to strengthen their positions.

A Bright Future for Hyatt

Hyatt’s acquisition of Playa Hotels is an exciting development. It allows Hyatt not only to expand its reach into more resort-style offerings but also to provide travelers with more options for their vacations. As people begin traveling again, this strategic move could position Hyatt well to cater to new waves of tourism throughout the coming years.

What Comes Next?

Following this bond sale exercise, all eyes will now be on Hyatt to see how quickly they can finalize the purchase agreement with Playa. The hospitality landscape is rapidly changing, and with Hyatt’s focus on adapting to new trends, including enhancing customer experiences and expanding their brand presence, this acquisition could be a game-changer.

  • Bonds sold: $1 Billion
  • Purpose: Fund acquisition of Playa Hotels & Resorts
  • Investor appeal: Attractive yield rates above Treasuries
  • Deadline for acquisition: October 9
  • Market activity: Increase in corporate bond sales

In summary, Hyatt Hotels Corp. is making significant movements in the hotel industry, tapping into the bond market to support its exciting plans for expansion. As the timeline for the Playa acquisition accelerates, the hospitality giant is positioning itself for a bright future in a recovering travel sector.