Hello to all our readers,
First and foremost, we hope you and your family are safe and secure during this unprecedented Covid-19 crisis. We have not seen a health crisis like this in over 100 years and understand that you and your family are not only stressed about your health, but also about your finances.
Although unprecedented, our government has stepped up to try to mitigate the financial damage you may see due to this crisis. Some of the things that the government has done to help was to pass a comprehensive stimulus package which includes help for both individuals and small businesses including forgiveable small business loans, stimulus payment checks and expanded unemployment benefits.
The C.A.R.E.S (Corona Virus, Aid, Relief and Economic Securities) Stimulus Package offers relief to individual taxpayers, small businesses and the unemployed among others. For the FULL text of the bill, follow the link below.
https://www.congress.gov/116/bills/hr748/BILLS-116hr748enr.pdf
Inside the bill are different provisions created to help different segments of society, including individuals, small and big businesses. Below you will find a link to the IRS which details stimulus package for individuals including who is eligible and when and how they will receive payments.
https://www.irs.gov/coronavirus-tax-relief-and-economic-impact-payments
Next, you will find links to the Small Business Administration website Covid-19 page where they lay out the loan options available to small businesses.
https://www.sba.gov/page/coronavirus-covid-19-small-business-guidance-loan-resources
Furthermore, the IRS has extended tax season, allowing an extra 3 months to file and pay your taxes. The new tax deadline is July 15th. For more information, you can follow the link below.
Finally, for those of you who have become unemployed due to the Corona Covid-19 pandemic, there is extra help for you too. In the above mentioned C.A.R.E.S Act, there was a provision to extend and expand unemployment insurance. It includes a $600 weekly increase for up to four months, on top of state benefits. To find out more about the stimulus relief for the unemployed, check out the link below.
https://www.experian.com/blogs/ask-experian/how-the-covid-19-stimulus-expands-unemployment-benefits/
The government has stepped up in this time of need and done some remarkable things in order to try and help the American people. They are also continuing to bring forth bills to expand upon the C.A.R.E.S act including proposing new bills that would expand the total money available to small business loans.
For now, the resources listed above should provide a good base for understanding the C.A.R.E.S Act and what is in it. We will provide updates via blog posts, so check back on our website regularly for more info related to Covid-19 and C.A.R.E.S.
