How Much Will You Receive From the COVID-19 Economic Impact Payments? 
Over the next three weeks, the IRS will send qualifying taxpayers an economic impact payment to offset financial hardships from the coronavirus pandemic. Eligible taxpayers will automatically receive a payment of up to $1,200 for individuals or $2,400 for married couples and up to $500 for each qualifying child. Here’s who qualifies for the economic impact payments:
  • Individual tax filers with an adjusted gross income up to $75,000

  • Married couples filing joint returns with a combined adjusted joint gross income up to $150,000

  • For filers with income above those amounts, the payment amount is reduced by five dollars for each $100 above the $75,000/$150,000 thresholds

  • Social Security recipients who are otherwise not required to file a tax return are eligible and will not be required to file a return

You must have filed taxes for 2018 or 2019 to receive a payment. Funds are available through 2020, so you can still file your taxes for 2018 or 2019 to receive an economic impact payment. Single tax filers with income exceeding $99,000 and joint filers with combined incomes exceeding $198,000 and no children are not eligible.

Calculate how much you are eligible to receive here.
New Online Learning Opportunities for Kids
In partnership with other well-known partners such as Scholastic, Khan Academy, and National Geographic, Common Sense Media has launched a new initiative to support online learning, Wide Open School. This comprehensive new tool provides parents and teachers with free online learning resources from over 25 education organizations. Resources support kids’ academic success and physical and mental health.
Assistance Fund for Women-Owned Small Businesses
The Women’s Foundation of Arkansas has launched an assistance fund for women-owned small businesses in Arkansas experiencing economic hardship due to COVID-19. Businesses that are selected will each receive a grant of $5,000. Applications for the first round of funding close at 12 p.m. on April 13.
“Schools are closed, minds are wide open.” Wide Open School, a new initiative to support online learning, is providing parents and teachers with a vast library of free online learning resources from over 25 education organizations. Check it out: https://wideopenschool.org/
“Schools are closed, minds are wide open.” Wide Open School is providing parents & teachers with a vast library of free online learning resources from over 25 education organizations. Check it out: https://wideopenschool.org/
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