Coronavirus cases continue to surge in the U.S., but some financial relief is in sight.
Heres what to expect:
1.
Households with children 16 or younger will receive an additional$500 per child coronavirus stimulus credit.
This post refers to the Coronavirus Aid, Relief and Economic Security Act passed in March 2020. For the most up-to-date info, check out ourrecent tax articles.
No Interest Til Almost 2027?
The first round of payments are expected to be made on April 9 to those who receive direct deposit.
Check payments will be mailed at a rate of 5 million per week beginning April 24.
People who cant work because they are unable to find child care would also qualify for benefits.
The loans could be used for payroll or other expenses.
The usual 10% penalty on early withdrawals will be waived.
Youll also be able to spread income taxes you owe on any withdrawals you take over three years.
The measure is meant to give retirees more time to allow their investments to rebound.
Probably not as good as youd like.
It always seems like an uphill battle to build (and keep) a decent amount in savings.
But what if your car breaks down, or you have a sudden medical bill?
Ask one of these companies to help…