The Coronavirus has infected our life in many ways. There’s the lack of physical freedom and for those of us less fortunate, anxiety surrounding our daily income. Everyone is thinking about the financial impact, and we wanted to break down a few things that you need to act on, and what you can ignore for the moment.
President Trump signed into law the Coronavirus Aid, Relief, and Economic Security Act, (CARES Act), a $2 trillion stimulus package to mitigate the impact of the Coronavirus pandemic.
The CARES Act includes stimulus payments of $1,200 for each individual and $500 for each dependent child, defined by the child tax credit rules as under age 17.