Southern Bank – Left Bank http://left-bank.org/ Tue, 03 Aug 2021 13:39:13 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://left-bank.org/wp-content/uploads/2021/07/icon-2-150x150.png Southern Bank – Left Bank http://left-bank.org/ 32 32 Six Ways to Enhance Your Loan Application https://left-bank.org/things-that-you-need-to-know-before-you-borrow-a-loan/ https://left-bank.org/things-that-you-need-to-know-before-you-borrow-a-loan/#respond Wed, 28 Jul 2021 10:55:25 +0000 https://left-bank.org/?p=341 No essays or letters of recommendations are required. There is no need to do a case study, or a test assignment. While applying to refinance your student loans is less rigorous than applying for school or even for a job, it’s still an application to take seriously and set aside the time to do it right. Here are some […]]]>

No essays or letters of recommendations are required. There is no need to do a case study, or a test assignment. While applying to refinance your student loans is less rigorous than applying for school or even for a job, it’s still an application to take seriously and set aside the time to do it right.

Here are some tips to help you make the best loan application. We are excited to welcome you into the Left Bank community. If you want to read more here’s a https://www.paydaychampion.com/online-application/ for you.

Check your Credit Report

Although you may have a good idea of your credit score, a credit report contains more information than just one number. Credit reports include information about all loans, credit cards, and lines of credit you have, as well as repayment history. When we pull your credit report, we have to consider everything on it — so you want to make sure it’s accurate before applying for a loan.

You can get free access to your report through AnnualCreditReport.com, where you can view versions of your report from each of the three biggest credit reporting agencies. You can dispute or correct any incorrect information by contacting the agency if you notice a discrepancy.

Left Bank pulls credit information from Experian. If you are applying for an Left bank loan you will want to double-check.

As much financial information as possible be linked

Left bank takes into account all aspects of your financial situation in order to offer you the best rates. We are less focused on things like a credit score, and more focused on the things that show us you’ll do great with your new loan.

The more information you have, the better. You can benefit from linking savings accounts, retirement funds, investments, credit cards, and any other proof of income. These pieces allow us to get a complete picture of you, and help us understand how you can be rewarded for financial responsibility.

Remember, linking your accounts to Left bank is secure and private. We will never sell your information, including your email address, to any third party.

Make sure you have a safety net in place

It is a good habit to be aggressive in paying down debt. However, it is also a good idea to have a cash cushion to show your lender that you are able to handle another loan.

You can have three months of your normal expenses (living expenses like rent, food, and all your regular bills or debt payments) so that you are not in danger of being late on payments or struggling to make ends meets.

Keep documentation handy

We need to verify your application in order to award you for financial responsibility. This can often be done electronically, but we may ask for documents such as pay slips or loan statements. You will be able to speed through this step if you keep all of your records, online or printed, in one place.

Apply After Your Next Raise

Are you expecting a raise or a bonus soon? You might wait to apply for a loan if you expect to increase your cash flow over the next few months. This will allow you to include your higher income in your application.

You will want to be able to show your confirmation letter (from your company) if you don’t want the raise to come out until then. This is just one more piece that allows us to learn more about you.

Are you self-employed? Apply after you’ve paid your taxes

Before extending an offer to you, most lenders will need to verify your financial information. This includes your income. A pay stub is often sufficient to verify most income. If you do not receive pay stubs while working for yourself, it may be a good idea to wait until you have done your annual taxes before you apply for a loan. You can use your IRS tax return to keep track of your earnings.

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Chinese Army Tibetan troops trained for special operations conduct exercises in rear areas https://left-bank.org/chinese-army-tibetan-troops-trained-for-special-operations-conduct-exercises-in-rear-areas/ https://left-bank.org/chinese-army-tibetan-troops-trained-for-special-operations-conduct-exercises-in-rear-areas/#respond Fri, 09 Jul 2021 08:17:00 +0000 https://left-bank.org/chinese-army-tibetan-troops-trained-for-special-operations-conduct-exercises-in-rear-areas/ NEW DELHI: In an apparent attempt to copy India, the Chinese military is training its Tibetan troops for special operations in high altitude areas. The Chinese military held an exercise for its Tibetan troops who were inducted into their service after undergoing a number of “loyalty tests,” including learning the mainland Chinese language and following […]]]>
NEW DELHI: In an apparent attempt to copy India, the Chinese military is training its Tibetan troops for special operations in high altitude areas.
The Chinese military held an exercise for its Tibetan troops who were inducted into their service after undergoing a number of “loyalty tests,” including learning the mainland Chinese language and following their practices, said sources at ANI.
The Chinese, according to sources, are apparently trying to create a force like the Indian Border Special Force, which has many Tibetans specializing in mountain warfare.
Along with other Indian army units, they carried out rapid operations to give the country an advantage over the Chinese by capturing the heights along the southern shore of Pangong Tso in August of last year.
“Tibetan troops in the Chinese army are being trained for special operations and have recently held exercises in their rear areas,” the sources said.
The Chinese have tried to assimilate the Tibetans into their forces, but the majority of the people of the Tibet Autonomous Region have anti-Chinese sentiment due to its oppressive policies and are supporters of the Dalai Lama.
India and China have been at a military stalemate since the April-May period of last year and have yet to find solutions to defuse tensions at friction points, including the Hot Heights Springs-Gogra.
The Indian and Chinese sides have been speaking to each other for the past year and have held several rounds of talks at the military and diplomatic levels, but to no great result, except for the limited mutual withdrawal of men from both sides on the northern and southern shores of China. the Pangong Tso.
Indian agencies and forces have received reports that the Chinese are trying to recruit young Tibetans from across the vast Tibetan Autonomous Region.
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A wave of big African solar is about to break – pv magazine international https://left-bank.org/a-wave-of-big-african-solar-is-about-to-break-pv-magazine-international/ https://left-bank.org/a-wave-of-big-african-solar-is-about-to-break-pv-magazine-international/#respond Fri, 09 Jul 2021 08:13:09 +0000 https://left-bank.org/a-wave-of-big-african-solar-is-about-to-break-pv-magazine-international/ The Africa Solar Industry Association has registered nearly 2 GW of large-scale project announcements since the start of last month with 18 countries planning new clean energy infrastructure and including energy storage at power plants. July 9, 2021 Max Room The 540 MW of solar power generation capacity and 1.14 GWh of energy storage awarded […]]]>

The Africa Solar Industry Association has registered nearly 2 GW of large-scale project announcements since the start of last month with 18 countries planning new clean energy infrastructure and including energy storage at power plants.

The 540 MW of solar power generation capacity and 1.14 GWh of energy storage awarded to Norwegian developer Scatec to help keep the lights on in South Africa recently is the biggest project the trade body has ever done. Africa Solar Industry Association (AFSIA) has described as “an unprecedented series of large-scale photovoltaic installations on the continent.

The membership organization saw 1,879 MW of announcements of large-scale solar and storage projects in the five weeks since early June, it said in an article on its website.

Scatec’s Kenhardt project – awarded under a coal-free but otherwise technologically neutral ‘risk mitigation’ tender organized by the South African government to address frequent grid failures – was the largest of recent awards, which also included seven project announcements for total generating capacity of 70 MW in Zimbabwe from a list of facilities in 18 countries.

print edition of pv magazine

The latest edition of pv magazine is outside. The print edition offers an in-depth look at the vital role of solar energy in securing energy supplies where conventional grids have struggled to reach. And don’t miss our In conversation special: In the past month, pv magazine has been in contact with leading researchers working on energy systems, solar cell technologies, battery storage, hydrogen and more; discuss the future of energy and technologies that we can expect to see much more of in the years to come.

Three Togolese projects on the list amount to 225 MW of new solar in development or announced and two installations in the Democratic Republic of Congo (DRC) will add 200 MW, the same volume as the Serenje photovoltaic plant planned by the Zambian operation. of US Clean. developer of electricity Ultra Green Corporation in the southern neighbor of the DRC. Two power plants will add a forecast of 180 MW in Tanzania and two Namibian projects announced in the past five weeks are expected to add 111 MW of solar power.

The smallest project included on a list of solar and storage plans announced in Côte d’Ivoire (a total of 75 MW); Niger (60 MW); Botswana (50 MW); Madagascar (20 MW and 5 MWh of storage); Mozambique (19 MW plus 7 MWh); Burkina Faso (17 MW); the breakaway Republic of Somaliland in Somalia (8 MW / 2 MWh); Mauritius (8 MW); and Burundi (7.5 MW), was a 550 kW generator planned for Sao Tome and Principe. The latter project was one of two that will add a total of 2.15 MW of generation capacity in the offshore state. The list also included plans for Italian energy company ENI’s Rebiana solar power plant in Libya, although no details of scale were given.

AFSIA noted the re-emergence of the World Bank’s Scaling Solar campaign as a major driver of generation capacity, following the initiative’s failure to deliver hundreds of megawatts of photovoltaic power to Ethiopia. This year, the professional body said on Wednesday, the program has delivered plans for 50 MW of solar in Niger, 60 MW in Côte d’Ivoire and 190 MW in Togo.

The continental industry consortium noted that the floodgates could finally open for clean energy in Botswana after the state-owned utility, Botswana Power Corporation, cleared local developer Shumba Energy to develop 100 MW of solar energy as the country’s leading independent power producer. AFSIA said the move followed years of disappointment for solar developers who had expressed interest in annual 100MW clean power tenders that were never followed up. The southern African nation also introduced a net metering and feed-in tariff program late last year, which will enable 8 MW of commercial and industrial (C&I) solar power and 2 MW of home solar power. during its first year.

The Zimbabwe Energy Regulatory Authority is behind the country’s presence in the list, having granted seven licenses for more than 66 MW of generation capacity and AFSIA believes there are also plans for more than 1 GW of private C&I solar projects in the country, including the 200 MW will be installed by UK-based platinum miner Zimplats at its Mimosa operation.

This content is protected by copyright and cannot be reused. If you would like to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.

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Asian stocks follow losses on Wall Street with suspicious investors https://left-bank.org/asian-stocks-follow-losses-on-wall-street-with-suspicious-investors/ https://left-bank.org/asian-stocks-follow-losses-on-wall-street-with-suspicious-investors/#respond Fri, 09 Jul 2021 05:52:00 +0000 https://left-bank.org/asian-stocks-follow-losses-on-wall-street-with-suspicious-investors/ BANGKOK (AP) – Stocks were mostly down in Asia on Friday after stocks pulled back from their recent record highs on Wall Street as bond yields fell and investors became cautious. Tokyo’s Nikkei 225 lost almost 2%. Shares fell in Seoul, Sydney and Shanghai but rose in Hong Kong. US futures fell ES00, + 0.26% […]]]>

BANGKOK (AP) – Stocks were mostly down in Asia on Friday after stocks pulled back from their recent record highs on Wall Street as bond yields fell and investors became cautious.

Tokyo’s Nikkei 225 lost almost 2%. Shares fell in Seoul, Sydney and Shanghai but rose in Hong Kong.

US futures fell ES00,
+ 0.26%

YM00,
+ 0.34%

NQ00,
+ 0.10%
and the yield of the 10-year Treasury bill TMUBMUSD10Y,
1.334%
rose to 1.34%. On Thursday, it fell to 1.30%, its lowest level since February. It was recently trading at 1.74%.

Traders have shifted money to bonds in recent weeks, driving down the benchmark yield, which is used to set the rates on mortgages and many other types of loans.

Tokyo Nikkei 225 NIK,
-0.63%
was down 1.7% to 27,633.10 while the Kospi 180721,
-1.07%
in South Korea fell 1.2% to 3,211.05.

In both countries, authorities have stepped up pandemic precautions to counter new coronavirus epidemics. Reinforcing the relatively loose restrictions, Japanese Prime Minister Yoshihide Suga ordered a state of emergency for Tokyo, until 23 July-August. 8 Olympic Games.

Investors are assessing the potential impact of COVID-19 variants hampering a resurgence in trade and travel. Fans have been banned from the Tokyo Olympics following a state of emergency aimed at containing rising coronavirus infections in the capital.

the S & P / ASX 200 XJO from Sydney,
-0.93%
lost 1.3% to 7,245.10 while the Shanghai SHCOMP composite index,
-0.04%
lost 0.4% to 3,512.84. Stocks also fell in India and Taiwan, but rose in Hong Kong, where the Hang Seng index gained 0.7% to 27,330.71.

Thursday, the S&P 500 SPX,
-0.86%
fell 0.9% to 4,320.82, dragged down by a large drop driven mainly in technology, financial, industrial and communications companies. The Dow Jones Industrial Average DJIA,
-0.75%
lost 0.7% to 34,421.93. The Nasdaq Composite COMP,
-0.72%
broke a three-day streak of closing highs, falling 0.7% to 14,559.78.

Small business shares also fell. The Russell 2000 RUT Index,
-0.94%
slipped 0.9% to 2,231.68.
Long-term bond yields tend to move with investors’ expectations for inflation and economic growth. Both are still very strong and much higher than they have been in recent years. But Wall Street increasingly suspects they have already peaked as the economy passes the initial catapult phase of its recovery from the pandemic.

Part of the sharp decline in long-term bond yields could also be attributed to investors quickly reversing bets that they would continue to raise as the economy continued its strong recovery.

Two recent reports have shown that the manufacturing and service sectors are still growing, but more slowly than in previous months and falling short of economists’ expectations.

On Thursday, the Labor Department said the number of Americans claiming unemployment benefits rose slightly last week, even as the economy and labor market appear to rebound from the coronavirus recession.

Investors are increasingly nervous about potential measures by central banks, especially the US Federal Reserve, to end lavish support for markets that collapsed at the start of the pandemic.

The June Fed meeting minutes showed officials are moving closer to cutting bond purchases, although most analysts don’t expect a cut until later this year. At that meeting, policymakers said they plan to hike interest rates as early as 2023, earlier than expected.

Rail stocks were the biggest losers in the S&P 500 on Thursday following a released report indicating that the Biden administration plans to sign an executive order next week ordering regulators to take action against consolidation and anti-competitive pricing in the rail and maritime transport sectors. The report, published by the Wall Street Journal, cites an anonymous source familiar with the situation. Kansas City South KSU,
-7.87%
sank 7.9% for the S&P 500’s biggest loss. Norfolk Southern NSC,
-7.16%
slipped 7.2%, CSX CSX,
-6.16%
fell by 6.2% and Union Pacific UNP,
-4.38%
closed down 4.4%.

Investors will turn their attention to corporate earnings from next week, when big banks like JPMorgan Chase JPM,
-1.73%,
SG Goldman Sachs,
-2.37%
and Bank of America BAC,
-2.44%
report their results. Banks tend to be a proxy for the overall economy, so investors will carefully analyze reports and listen to what banks say about the state of lending and spending as the recovery continues.

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South Sudan: war and hunger mark the new country of the world https://left-bank.org/south-sudan-war-and-hunger-mark-the-new-country-of-the-world/ https://left-bank.org/south-sudan-war-and-hunger-mark-the-new-country-of-the-world/#respond Fri, 09 Jul 2021 04:02:19 +0000 https://left-bank.org/south-sudan-war-and-hunger-mark-the-new-country-of-the-world/ Published on: 07/09/2021 – 06:02Amended: 07/09/2021 – 06:01 Paris (AFP) South Sudan, which marks a decade of independence on Friday, is the youngest country in the world and also one of the poorest, crippled by a devastating civil war that has left tens of thousands dead. – The youngest state in the world – South […]]]>

Published on: Amended:

Paris (AFP)

South Sudan, which marks a decade of independence on Friday, is the youngest country in the world and also one of the poorest, crippled by a devastating civil war that has left tens of thousands dead.

– The youngest state in the world –

South Sudan proclaimed independence from Sudan in July 2011 following a referendum that saw nearly 99% of the vote in favor of secession.

The vote follows two civil wars between rebels in the predominantly Christian and animist southern Sudan and the Arab-dominated government of Khartoum. Millions of people have died.

A peace accord was signed in 2005 by the government and rebels in the south. It exempted the south from Islamic Sharia law and granted it six years of autonomy before the independence referendum.

Salva Kiir was sworn in as the country’s first president with Riek Machar as his deputy.

– Another civil war –

Kiir and Machar were on the same side in the struggle for Khartoum independence, but ethnic and political rivalries separated them.

Tensions increased when Machar – from the country’s second ethnic group, the Nuer – was sacked as vice president in 2013.

Kiir, of the Dinka majority people, later accused him of staging a failed coup.

In December 2013, the country sank into a civil war marked by ethnic massacres, widespread rape, the recruitment of child soldiers and other forms of brutality.

# photo1

As part of a 2015 peace deal, Machar was reinstalled as vice president. But the fighting resumed and he and his forces fled.

The two enemies met in June 2018 and a new peace agreement was reached in September with the aim of establishing a government of national unity. It has been postponed twice.

Over 380,000 people died in the last war, half of them from illness and lack of access to health care.

About four million people have been driven from their homes.

The United Nations has accused government forces and other armed groups of “deliberately starving” civilians by denying access to aid and displacing communities.

The continued violence has made South Sudan one of the most dangerous countries in the world for aid workers, with four deaths last month.

– Poverty and locusts –

Four in five of South Sudan’s 11 million people live in “absolute poverty,” according to the World Bank in 2018.

More than 60 percent of the population face severe famine due to the combined effects of war, drought and floods.

In addition to their woes, swarms of locusts have ravaged the country on several occasions.

These dire circumstances place South Sudan 185th out of 189 countries in the UN Human Development Index.

– Economy in ruins –

Oil production – from which South Sudan drew 98 percent of its income at independence – accounts for almost all of its exports and more than 40 percent of GNP, according to the World Bank.

Since the 2018 peace agreement, crude oil production has fallen to almost half of what it was before the war.

While GDP growth was expected to reach 7.9% last year, the coronavirus and current instability have slowed it down, although inflation has fallen sharply from its 2019 peak of 170%.

South Sudan is also hampered by corruption, according to Transparency International, ranking 178th out of 180 in its index.

– Marsh and savannah –

South Sudan is home to a rich variety of wildlife, including antelopes, elephants, giraffes and lions, and the largest savannah ecosystem in the East Africa region.

# photo2

A large area known as Sudd is the largest swampy region in the world and is home to hundreds of species of birds and expanses of fields of papyrus and aquatic plants.

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Tri-County Citizen Deposits Earn – Southern Standard https://left-bank.org/tri-county-citizen-deposits-earn-southern-standard/ https://left-bank.org/tri-county-citizen-deposits-earn-southern-standard/#respond Fri, 09 Jul 2021 01:41:52 +0000 https://left-bank.org/tri-county-citizen-deposits-earn-southern-standard/ Citizens Tri-County Bank were in the money Tuesday night against Melton & Cowan Law Office in a Junior League game in Centertown. The citizens wereted no time scoring 6 points. At the top of the first, Samara Harris and Emma Peacock started off with hits. After a walk from Alyssa Boyd, Conner Cantrell and Lorelei […]]]>

Citizens Tri-County Bank were in the money Tuesday night against Melton & Cowan Law Office in a Junior League game in Centertown.

The citizens wereted no time scoring 6 points. At the top of the first, Samara Harris and Emma Peacock started off with hits. After a walk from Alyssa Boyd, Conner Cantrell and Lorelei Griffith hit the infield to score Harris and Peacock.

Hayden Foster got a hit to right center fielder to score two runs, then Allie Eaton had one sacrificial ground to score another. Dalton Stalcup landed a hit down the middle to score one more.

Harris, at bat for the second time in the inning, hit a liner that was caught by Melton & Cowan shortstop Alton Womack to avoid more damage, 6-0.

Melton & Cowan got it right for 2 runs down the first. Lakelynn Garza led the way with a hit in the field. After Emma Dillon put the ball into play, Garza pushed her way around the goal and tried to get home, only to be hit by Cantrell in a spectacular play.

Melton & Cowan, however, was unfazed. Ashlyn Faulk got a hit in left field, and Dillon and Faulk scored when Jackson Kirby roped a right. The score was 6-2 after the first.

The citizens cashed a check for 10 more races at the start of the second. Harris, Boyd and Foster all had a hit in the inning, while Cantrell and Griffith each had two hits.

Melton and Cowan argued for two points late in the second, thanks to a hard-hit liner in center-right field from Tayden Stafford, a walk from Acelyn Stafford, and then hits from Garza and Dillon. The score was 16-4 after two.

The top of the third was marked by a major league catch in left center field by Maddie Barks of Melton & Cowan on a Harris ball. Then the Womack shortstop grabbed a Cantrell liner and then scored the second goal to pass Peacock there and get out of the inning.

Melton and Cowan added one more point before the final verdict was delivered. The game ended after four innings and the Citizens won 16-5. Kaylyn Bragg played a solid backstop defense for the Citizens.

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Rise of the Moors group in Pawtucket claims Rhode Island as their own territory https://left-bank.org/rise-of-the-moors-group-in-pawtucket-claims-rhode-island-as-their-own-territory/ https://left-bank.org/rise-of-the-moors-group-in-pawtucket-claims-rhode-island-as-their-own-territory/#respond Thu, 08 Jul 2021 22:38:13 +0000 https://left-bank.org/rise-of-the-moors-group-in-pawtucket-claims-rhode-island-as-their-own-territory/ PAWTUCKET – A year ago, members of a little-known Rhode Island-led group hit the radar of experts studying anti-government and hate groups. This weekend, The Rise of the Moors was plastered all over the cable news. The United States has many Moorish Americans, but those charged with arms in Massachusetts are among a smaller number […]]]>

PAWTUCKET – A year ago, members of a little-known Rhode Island-led group hit the radar of experts studying anti-government and hate groups. This weekend, The Rise of the Moors was plastered all over the cable news.

The United States has many Moorish Americans, but those charged with arms in Massachusetts are among a smaller number who claim to be both Moors and sovereign citizens.

Their group, Rise of the Moors, headquartered in Pawtucket, has claimed Rhode Island as their home territory. The Southern Poverty Law Center classified the group as an anti-government group in 2020.

“We are looking at all of their actions and rhetoric,” says Rachel Goldwasser, research analyst at the Law Center’s Intelligence Project. “In this case, they adapt the sovereign citizens to a T.”

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US Senator Kamala D. Harris and colleagues call for fixes to civil service loan forgiveness program to be included in relief program https://left-bank.org/us-senator-kamala-d-harris-and-colleagues-call-for-fixes-to-civil-service-loan-forgiveness-program-to-be-included-in-relief-program/ https://left-bank.org/us-senator-kamala-d-harris-and-colleagues-call-for-fixes-to-civil-service-loan-forgiveness-program-to-be-included-in-relief-program/#respond Tue, 23 Mar 2021 05:29:56 +0000 https://left-bank.org/us-senator-kamala-d-harris-and-colleagues-call-for-fixes-to-civil-service-loan-forgiveness-program-to-be-included-in-relief-program/ The bill would ensure that public servants and frontline workers, like nurses and first responders, receive forgiveness for the student loan they have earned. July 27, 2020 – WASHINGTON, DC – U.S. Senator Kamala D. Harris (D-CA) joined Senator Kirsten Gillibrand (D-NY), Tim Kaine (D-VA) and Elizabeth Warren on Friday (D-MA) and 14 of their […]]]>

The bill would ensure that public servants and frontline workers, like nurses and first responders, receive forgiveness for the student loan they have earned.

July 27, 2020 – WASHINGTON, DC – U.S. Senator Kamala D. Harris (D-CA) joined Senator Kirsten Gillibrand (D-NY), Tim Kaine (D-VA) and Elizabeth Warren on Friday (D-MA) and 14 of their colleagues in calling on Senate leaders to include fixes to the Public Service Loan Forgiveness Program (PSLF) in the upcoming COVID-19 relief plan. In a letter, the senators called for the inclusion of elements of theWhat you can do for your country Take actionin the relief program to ensure that frontline workers receive the waiver of their student loans they have earned.

(Left) US Senator Kamala D. Harris (D-CA)

Along with Harris, Gillibrand, Kaine and Warren, the letter was signed by Senators Tammy Baldwin (D-WI), Michael Bennet (D-CO), Richard Blumenthal (D-CT), Cory Booker (D-NJ), Sherrod Brown (D-OH), Bob Casey (D-PA), Dick Durbin (D-IL), Maggie Hassan (D-NH), Mazie Hirono (D-HI), Jack Reed (D-RI), Jacky Rosen ( D- NV), Bernie Sanders (I-VT), Sheldon Whitehouse (D-RI) and Chris Van Hollen (D-MD).

Senators wrote,“The COVID-19 pandemic has made the work of our nurses, health care providers, teachers, first responders and countless other public sector workers more important than ever. For many of these essential workers, who are disproportionately people of color, the combination of extreme job insecurity, dangerous working conditions caused by the pandemic, and unmanageable student debt has been devastating. This crisis has highlighted the need for immediate action to ensure that we give our core workers the support and forgiveness they rightly deserve. “

The PSLF was created by Congress in 2007 to encourage more students to enter the public service by granting a loan forgiveness after 10 years of full-time work for a federal, state, local or tribal government organization or certain organizations. non-profit. Unfortunately, the flawed implementation of the PSLF program by the US Department of Education and the “donut holes” of eligibility resulted in 99% of all officials who asked for forgiveness were denied the help.

the What you can do for your country Take action would close donut holes and correct technical errors in the current PSLF by ensuring that all types of federal loans and federal repayment plans would qualify, require clearer information and better advice for borrowers, and simplify the process application process so that all eligible borrowers are able to work towards and receive the loan discount they have earned.

The full text of the letter can be viewed HERE and lower.

Dear Chef McConnell and Chef Schumer,

As the country continues to respond to the COVID-19 pandemic, we are writing to you today to ask you to provide critical support to frontline workers and government officials across our country in the COVID-19 relief legislation that you trade by closing the donut holes in the Public Service Loan Forgiveness Program (PSLF) with components of theWhat you can do for your country Take action(S. 1203). These provisions will ensure that people who have dedicated their careers to public service and who work in the trenches to help their communities fight the virus receive the waiver of their student loan they have earned.

The PSLF was created by Congress in 2007 to encourage more students to enter the public service by granting a loan forgiveness after 10 years of full-time work for a federal, state, local or tribal government organization or certain organizations. non-profit. Unfortunately, the flawed implementation of the PSLF program by the US Department of Education and the “donut holes” of eligibility resulted in 99% of all officials who asked for forgiveness were denied the help. As a result, tens of thousands of nurses, first responders, teachers, social workers, members of the military and countless other professions committed to serving their communities have been denied help or deterred. to ask for it. As borrowers drown in a growing pool of $ 1.5 trillion in federal student loan debt, these issues add unnecessary pain and burden to those working tirelessly to support their communities during this unprecedented public health crisis. .

We must do more to tackle the crushing burden of student debt on our frontline workers and other public servants. theWhat you can do for your country Take actionwould close donut holes and correct technical errors in the current PSLF by ensuring that all types of federal loans and federal repayment plans would qualify, require clearer information and better advice for borrowers, and simplify the process application process so that all eligible borrowers are able to work towards and receive the loan discount they have earned. While Congress created the Temporary Extended Public Service Loan Forgiveness (TEPSLF) program in 2018 to help some borrowers with bad repayment plans that were excluded from relief, this program has also been poorly implemented. and has an extremely high rejection rate. More comprehensive fixes for PSLF are urgently needed.

The COVID-19 pandemic has made the work of our nurses, health care providers, teachers, first responders and countless other public sector workers more important than ever. For many of these essential workers, who are disproportionately people of color, the combination of extreme job insecurity, dangerous working conditions caused by the pandemic, and unmanageable student debt has been devastating. This crisis has highlighted the need for immediate action to ensure that we give our core workers the support and forgiveness they rightly deserve.

It is high time that Congress honored its commitment to workers who have dedicated their careers to serving their communities. We must include provisions to help these borrowers recover from the pandemic and its economic ravages. Thank you for your attention to this important request.

Truly,
Source: US Senator Kamala D. Harris

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New Stimulus Legislation Makes PPP-Financed Expenses Deductible and Offers Other Tax Benefits | Kelley Drye & Warren LLP https://left-bank.org/new-stimulus-legislation-makes-ppp-financed-expenses-deductible-and-offers-other-tax-benefits-kelley-drye-warren-llp/ https://left-bank.org/new-stimulus-legislation-makes-ppp-financed-expenses-deductible-and-offers-other-tax-benefits-kelley-drye-warren-llp/#respond Tue, 23 Mar 2021 05:29:56 +0000 https://left-bank.org/new-stimulus-legislation-makes-ppp-financed-expenses-deductible-and-offers-other-tax-benefits-kelley-drye-warren-llp/ On December 27, 2020, following an unexpected delay, President Donald Trump signed a stimulus bill that overturned the IRS’s position that spending funded by Paycheck Protection Program loans ( “PPP”) canceled were not deductible. The new legislation, known simply as the Consolidated Appropriations Act, 2021 (the “Act”), also expands the reach of the PPP program […]]]>

On December 27, 2020, following an unexpected delay, President Donald Trump signed a stimulus bill that overturned the IRS’s position that spending funded by Paycheck Protection Program loans ( “PPP”) canceled were not deductible. The new legislation, known simply as the Consolidated Appropriations Act, 2021 (the “Act”), also expands the reach of the PPP program and enhances other benefits created in the original Aid, Relief and Relief Act. economic security against coronaviruses (the “CARES Act”) or the Families First Coronavirus Response Act (the “FFCRA”). This customer notice describes some of the potential tax benefits extended or improved under the new legislation.

Deductibility of expenditure financed by PPP

Under the PPP, companies were able to obtain loans to finance labor costs and the payment of some other vital expenses. Under the initial P3, if the proceeds of a P3 loan were used to finance labor costs, interest on certain mortgage bonds, certain rent payments, and certain utility payments, all or part of the loan could be forgiven. The lion’s share of the proceeds from PPP loans was to go to employees. While the surrender of a non-PPP loan is generally taxable for a borrower, Section 1106 (i) of the CARES Act provided that the surrender of a PPP loan under Section 1106 (b) of the Act CARES was to be excluded from gross income.

On April 30, 2020, in Notice 2020-32, the IRS declared that expenses, including payroll expenses, would not be deductible for federal income tax purposes if funded by P3 loans. canceled. The rationale behind Notice 2020-32 was that allowing a deduction for expenses funded with a canceled PPP loan could confer an inappropriate double taxation benefit which is prohibited under section 265 (a) (1). ) of the Internal Revenue Code. Advisory 2020-32 was an unpleasant surprise, as there was an indication that Congress had intended expenses funded by canceled PPP loans to be deductible.

The law effectively cancels Notice 2020-32, providing that “no deduction will be denied, no tax attribute will be reduced and no base increase will be denied, due to the exclusion of expected gross income” from the Article 1106 (i) of the CARES Act. Thus, Congress has confirmed that taxpayers can effectively obtain a double tax advantage on canceled P3 loans.1

Expansion of employee retention credit

The CARES Act provided for a potentially refundable tax credit to certain employers of up to 50% of the wages the employer continued to pay certain employees in the face of a government-imposed COVID-19 shutdown or loss of income exceeding certain thresholds. The credit was granted on certain taxes on employment, including the employer’s share of the taxes on old age insurance, survivors and disability (i.e. social security) and a part of the Railroad Retirement Tax Act.

The Act extends the availability of credit, among others:

  • Increase the amount of credit from 50% of the qualified salary to 70% of the qualified salary;
  • Increase the maximum amount of eligible salaries taken into account in calculating the credit from $ 10,000 per employee in total to $ 10,000 per employee for each calendar quarter;
  • Extension of credit availability from December 31, 2020 to June 30, 2021; and
  • Reduce by 50% to 20% the reduction in gross receipts (compared to the same calendar quarter of the previous year) that potentially triggers the availability of credit for some employers.

Full charge of certain business meals for 2021 and 2022

The law creates a new exception to the 50% limit under Section 274 (n) (1) of the Internal Revenue Code on business meal expenses that can be deducted. For the period beginning January 1, 2021 and ending December 31, 2022, the limit is increased from 50% to 100% “for food or beverages provided by a restaurant”.

Extension of the deferral of certain tax obligations on the payroll

On August 8, 2020, President Donald Trump issued a memorandum directing the US Treasury Department to defer the withholding, filing, and payment of certain labor taxes. On August 28, 2020, the IRS issued Notice 2020-65, which was intended to provide advice to employers on how to implement the protocol. The memorandum and opinion deferred the collection by the employee of social security taxes (imposed at a rate of 6.2%) and an equivalent amount of railway pension taxes from a employee, in each case for wages paid from September 1, 2020 to December 31. 2020, and only for employees whose salary (or compensation) payable during a bi-weekly pay period was generally less than $ 4,000. Advisory 2020-65 addresses the need to pay employee Social Security deferred taxes by requiring employers to withhold and pay employee social security deferred taxes in proportion to wages and salaries paid between January 1 2021 and April 30, 2021.

The law extends the end of the payment period until December 31, 2021.

Extension of tax credits for paid holidays FFCRA

The FFCRA has demanded that some employers with less than 500 employees offer paid sick leave and paid family leave to eligible employees until December 31, 2020. The FFCRA has made available to employers a tax credit equal to salary sick leave and family leave that employers were required. payable under the warrant.

The Law provides that the tax credit will now be available for eligible sick leave salaries and eligible family leave salaries paid until March 31, 2021. However, the Law does not appear to extend the period during which such salaries must be paid. paid. Thus, certain employers will be able to take advantage of tax credits for sick leave and family leave paid voluntarily between January 1, 2021 and March 31, 2021 and which meet certain other requirements.

1 Although the Act does not impose limits on the deductibility of expenses financed by canceled PPP loans, there remains the possibility that other rules limit deductions for such expenses.

[View source.]

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Week ended March 05, 2021 https://left-bank.org/week-ended-march-05-2021/ https://left-bank.org/week-ended-march-05-2021/#respond Tue, 23 Mar 2021 05:29:56 +0000 https://left-bank.org/week-ended-march-05-2021/ by Joe Panettieri • March 5, 2021 This week’s 10 most read reports, columns, blogs, editorials and research on channels and MSPs: ten. Microsoft’s Free RPA Tool: Microsoft Power Automate Desktop is a robotic process automation (RPA) tool that MSPs and channel partners can use to automate workflows. And… it’s free for Windows 10 users. […]]]>

This week’s 10 most read reports, columns, blogs, editorials and research on channels and MSPs:

ten. Microsoft’s Free RPA Tool: Microsoft Power Automate Desktop is a robotic process automation (RPA) tool that MSPs and channel partners can use to automate workflows. And… it’s free for Windows 10 users.

9. List of technological mergers and acquisitions: Our regularly updated list of over 600 M&A deals involving MSPs, IT solution providers, private equity firms and more.

8. Zero Trust Security Explained: Zero Trust is not a product, it is a security framework built around the concept of “never trust, always verify” and “assuming a breach”.

7. Datto launches Datto Commerce for MSP sales automation: The new Datto Commerce, based on the acquisition of Gluh, supports MSP online storefronts, sales quotes, e-commerce and purchases through Ingram Micro and Synnex.

6. MSP QBR Guide: Need an MSP QBR guide? Step one: Think like a wealth manager during Quarterly Business Reviews (QBR) with clients. Here’s why and how to do it.

5. CompuCom for sale amid malware attack: ODP, the parent company of Office Depot, wants to sell CompuCom. But one malware attack on CompuCom can complicate these efforts …

4. List – 43 Technology PSPCs and Implications for Partners: We are currently tracking over 40 Special Purpose Acquisition Companies (SPACs) that may acquire or merge with technology companies. This list, updated every business day, explains the potential implications of PSPC for technology partners.

3. SolarWinds Orion Cyberattack Timeline: Every major development in the offense, investigation and hearings in Washington, DC.

2. Microsoft Ignite 201 Live Blog: Everything Microsoft announced at this week’s virtual event, including Microsoft Mesh mixed reality technology.

1. PPP SBA Loan Application Deadline and Updates: The latest application adjustments to the Small Business Administration’s Paycheck Protection Program (PPP) may appeal to sole proprietors and very small businesses.

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