About half of the allotted funds are being allocated towards direct cash payments to qualifying taxpayers, and the large majority of the remainder is earmarked for expanded unemployment benefits.
New: Aging Parent Guide with COVID-19 Update
IRS Extends Rollover Deadline for Waived RMDs
IRA And Retirement Plan Changes In The CARES Act
The CARES Act: Summary of Key Provisions Affecting Employee Benefit Plans
Congress Approves Economic Relief Plan for Individuals and Businesses
Deloitte: COVID-19 Tax Policy Updates
For small businesses:
$350 billion is allocated to loans through the Small Business Administration, $10 billion is earmarked for emergency grants, and the remainder is relief for existing loans.
Stuck at home? Your family’s survival guide
We are living in unprecedented times in more ways than one amid the COVID-19 outbreak. In addition to facing financial challenges, many of us are working from home for the first time, assisting children in remote learning and exploring new ways to stay occupied. Check out these resources to help you stay safe, happy and healthy during the stay-at-home period.
For those with children who are remote learning:
CDC: Mental Health and Coping During COVID-19
TIME: How to Stay Physically and Mentally Healthy while COVID-19 Has You Stuck at Home