Last week, the Coronavirus Aide, Relief, and Economic Stability (CARES) Act was signed into law. It provides $2 trillion to individuals, small businesses, state and local governments, and public health efforts.

Individual Assistance
  • Those earning less than $75,000 will receive a one-time payment of $1,200
  • Married couples making less than $150,000 combined will receive $2,400
  • Families will receive $500 per child
  • Most people will receive this money by direct deposit based on information from their 2018/2019 tax returns. But some people, like those who don't file taxes, may need to file a very simplified tax return. Here's what, if anything, you need to do.
Unemployment Assistance
  • Regular unemployment benefits will now last an additional 13 weeks and individuals will receive four months of $600 weekly payments on top of their usual unemployment checks
  • The government also expanded the list of who can get unemployment, like the self-employed
Small Business Assistance
  • The Paycheck Protection Program provides small businesses with loans that can be forgiven if the companies maintain their employee headcount and pay levels.
  • Applications open tomorrow and its important to APPLY EARLY as funds are allocated on a first-come, first-served basis. Click here for a sample form to get ready
  • The SBA is now offering loans that are forgivable up to 100% of the amount borrowed. See the small business guide to the CARES Act for more information.