Family's First Coronavirus Response Act
All of us, right? I know I can surely use some extra money!
Sun Mar 01 2020 05:00:00 GMT+0000 (Coordinated Universal Time)
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.
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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:
1. This is a one-time payment
2. Payments will be processed electronically via direct deposit
3. Your bank account information must be up-to-date with the IRS
4. Your 2018 Taxes must be filed to qualify
5. If applicable to receive extra parental funds, to qualify, your children must be 16 years or younger