The $2T Unemployment Bill And Coronavirus Stimulus Package: How To Collect What’s Yours
COVID-19 has greatly impacted nearly every aspect of our lives and has caused a lot of stress.
Stress that we, or those we care about, could become sick.
The stress of our society’s norms changing from work, school, and even spending time with friends over a coffee.
A very large stresser for a lot of people is the financial trouble the current pandemic has brought and the loss of jobs in Hollister, CA and the nation as a whole.
Without work many people have begun to fear what the next few weeks, months, or even years will look like.
The good news is, if you find yourself without work at this time, whether you were already jobless or if the Coronavirus has caused you to be temporarily unemployed, there is some relief on the way.
The U.S. government has agreed to a 2.2 trillion dollar unemployment bill and stimulus package to help Americans through this trying time.
The hopes are that this package will keep people from going under financially while simultaneously keeping the economy stimulated.
Many people have questions regarding how the bill and stimulus package will impact them and how to collect it, so today Infinity will go over some of the most common concerns.
Unemployment
If you were already unemployed before the virus started then you may still benefit from this bill.
The unemployment bill being passed means you will receive an extra $600 a month during the crisis, or until you find work.
If your job was shut down because of COVID-19 then you will most likely qualify for unemployment.
As US News & World Reports says,
“As unemployment claims spike amid a growing number of layoffs, the legislation expands eligibility to qualify for unemployment insurance and for the first time includes freelancers and gig workers like ride-share drivers.
The negotiated bill also extends unemployment benefits for four months and will pay $600 a week in addition to benefits already collected through the states.”
As an American citizen if you no longer have work because of the pandemic, you can call or get online to find out if you are eligible and how to claim unemployment in your state.
Stimulus Checks
Who Qualifies?
This is a question most U.S. citizens asked once the long awaited bill was finally approved.
Who is going to be receiving this help from the government?
Will I be eligible?
These are good questions and the answers will certainly have a large impact on families around the country.
Single people who make less than $75,000 a year will qualify to receive $1,200.
Married couples could be eligible to receive $2,400 as long as their combined income is less than $150,000 a year.
Those who are married and have children will also receive another $500 for each child they have that is under 17 years old.
College students who are still dependent on their parents should not expect to receive a package.
Those on Social Security can expect to receive a payment as long as their Social Security income is not above the limits.
Who Won’t Get A Check?
“The main people excluded from receiving a payment are the wealthy, ‘nonresident aliens’ and ‘dependents’ who can be claimed on someone else’s tax return.
Roughly 125 million people will receive a check, or about 83 percent of tax filers, according to Kyle Pomerleau, a tax expert at the American Enterprise Institute.”
The stimulus package is intended to help low and middle class Americans who may be struggling through this hard time. Wealthy Americans will not be expected to receive any payments.
Is There Anything I Need To Do?
As long as you filed your 2019 taxes then you do not need to do anything! If you have not filed, then file your taxes ASAP to make sure your information is up to date.
In order to make sure your payment goes through, you may need to address a few items like if your banking information has changed at all.
The IRS is in the process of building a portal for people to make the necessary changes so they will receive their money.
If you believe you have something you need to update be on the lookout for the portal.
When Are The Payments Expected?
An approximate date set by the Treasury Secretary predicted that many Americans might receive their payments by April 17th.
Though that date is not set in stone, it is a good estimate.
As helpful as the Unemployment Bill and the Stimulus checks are, it’s a short term solution, and you may feel you need more financially.
Or maybe you had been looking for a job for months and this pandemic is leaving you feeling defeated.
Thankfully, in our modern world there are still ways to find jobs and make money. If you are interested in finding a job, Infinity Staffing would love to help you!