The Families First Coronavirus Response Act
Here's the Back Story
Unemployment rates have risen leaving many Americans and businesses scattering for financial support. Recently, President Trump and Congress has installed a $2 Trillion Stimulus Bill which allocates $350 billion specifically for small business loans. This also covers what we've all heard -- the $1200 pay out under the Families First Coronavirus Response Act. But here's what you might not know:
This is a one-time payment
Payments will be processed electronically via direct deposit
Your bank account information must be up-to-date with the IRS
Your 2018 Taxes must be filed to qualify
If applicable to receive extra parental funds, to qualify, your children must be 16 years or younger
Use the chart to see how much you qualify for:
Who Does it Affect?
All of us, right? I know I can surely use some extra money!
If all of your T's are crossed and I's are dotted, wait patiently. It will take up to 20 weeks as of April 3rd to be processed. In preparation, utilize our checklist above to make sure there are no delays.
How Can VAAS Pro Help?
Visit www.irs.gov/coronavirus/get-my-payment to check your status TODAY!