The largest emergency aid relief in U.S. history was just signed into law to address the economic impact of the COVID-19. Named the CARES Act, this tremendous $2 trillion stimulus package is intended to provide relief to individuals, businesses, and industries who have taken a financial hit over the last several weeks. The star of the stimulus package is the $250 billion designated for direct payments to Americans. You may have received a check of $1200 or more just last week.
To help you better understand your stimulus payments, I'm here to answer the most common questions.
Resources:
F.A.Q. On Stimulus Checks, Unemployment, and the Coronavirus Plan
https://www.nytimes.com/article/coronavirus-stimulus-package-questions-answers.html
F.A.Q. On Student Loans
https://studentaid.gov/announcements-events/coronavirus#zero-interest-questions
F.A.Q. On Retirement Plan Loans
https://www.forbes.com/sites/berniekent/2020/03/28/covid-19-and-your-ira-heres-what-you-need-to-know/#44114e252131
IRS Website for Tax Relief
https://www.irs.gov/coronavirus-tax-relief-and-economic-impact-payments
How Do I File for Unemployment Benefits?
https://www.dol.gov/general/topic/unemployment-insurance
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