CARES Act – Economic Impact Payments

Financial Tid-Bits,Tax

When will coronavirus (COVID-19) payments from the government arrive? Do you have questions about the CARES Act’s “economic impact payments?” For eligible individuals, these are up to $1,200 for singles and $2,400 for married couples filing jointly (plus $500 for each eligible child). The IRS has announced that the distribution of payments will begin in the next three weeks and will be distributed automatically, with no action required for most taxpayers. However, people who didn’t file 2018 or 2019 federal income tax returns will need to submit “a simple tax return” to receive a stimulus payment. Contact us for help filing a return. For more information:

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