• The basic check amounts are:
•  $1,200 per individual ($2,400 per married couple)
• $500 for each qualifying child (child under 17 you claimed as a dependent on your tax return)
• The amount of the check will be phased out after income starts exceeding certain thresholds:
• $150k for Married filing Joint
• $112.5k for Head of Household
• $75k for all other filing statuses
• The income amount is based on either your 2018 or 2019 tax return—whichever is the most recently filed.
• The payment will be directly deposited to the bank account on your tax return. If you have not done direct deposit in the past, the IRS is working to launch a website on Friday to allow you to submit that information or you will receive a paper check. You can visit that website here.

• Federal student loan payments on loans held only by the Department of Education are suspended for 6 months through September 30, 2020.
• Private student loans do not qualify for this.
• No interest will accrue during this time. If you can, pay down that principal!

• Coronavirus-Related Distribution: If you are experiencing financial hardship due to a COVID-19 diagnosis for you or a family member you care for or because of income/job loss, you may take a withdrawal from your retirement account without paying an early withdrawal penalty. You can also recontribute the funds over 3 years. Please contact your financial advisor to discuss this option further.
• Required Minimum Distributions: For 2020, RMDs are waived.

• Cut your spending down to only the necessities.
• Contact your mortgage lender to see if they can offer you a grace period on your next month or two of payments.
• Look into refinancing your mortgage at a lower interest rate.
• Consider a Home Equity Line of Credit if you have no other option for funds.
• Review your insurance policies and compare prices across different carriers for a better rate.
• Be creative! Use items you have on hand in your pantry to create a fun meal. Clean out your closet to find items you can sell online. Play a board game instead of renting that movie on demand. Enjoy the free fresh air.
• If you don’t already have an emergency fund (about 3-6 months’ worth of expenses), use some of your newly gifted free time to review your monthly budget and find extra funds to stash away for future rainy days.

• The Federal government has increased funding to the states to allow them to pay a larger amount of unemployment compensation.
• The compensation period is for up to four months and the one week waiting period is waived.
• If you’re in a position where you’ve lost your job, have had your hours reduced, or are temporarily laid off, you should apply for unemployment as soon as possible.
• Self-employed individuals can apply for and be eligible for up to 39 weeks of compensation thanks to the “Pandemic Unemployment Assistance” provision recently passed.