As our country continues to deal with the Corona Virus Disease (COVID-19) pandemic and the various changes and hardships that it causes, most of us find ourselves personally affected by it as well. COVID-19 is changing our country, our society, and our daily lives. Many of us have been dealing with a loss of hours or layoffs from our workplace, as the pandemic forces shutdowns or lack of work due to the poor economic circumstances. If you have recently found yourself struggling during this pandemic, you are not alone and help is available. If you can shift your focus toward seeking assistance during this unprecedented health crisis, you can slowly work to improve your personal situation.
The federal tax filing deadline has been moved back to July 15, so you have already gained a short reprieve if you were having trouble filing taxes or paying a tax debt. Of course, if you are owed a refund, you’ll want to file as soon as you are able so those needed funds arrive quickly. Many states adjusted deadlines in some way to help taxpayers during this difficult time as well. The CARES Act, passed by Congress in late March, included a much-needed economic stimulus payment from the Internal Revenue Service directly to many Americans. Adults whose income is under $99,000 are receiving up to $1,200 and $500 per child under age 17. The CARES Act also included forgivable loans for small businesses, as well as funds for state and local governments.
If you need to utilize unemployment insurance, the CARES Act supplements state benefits by $600 per week and expanded benefits so that more Americans now qualify, particularly if they have been directly impacted by COVID-19. You may now consider applying for unemployment if you are quarantined due to exposure or symptoms, if you are caring for someone who has COVID-19, if you are a caregiver to someone whose school or other facility has closed, or if your workplace closed due to the public health crisis. Also included for benefits are many part-time and self-employed workers who normally would not qualify. Be aware that many states have long wait times to file and are dealing with websites that are crashing due to the unprecedented amount of claims, so try to be understanding of that situation as you navigate the process.
If your finances are really suffering due to COVID-19 related issues, you may want to consider utilizing a short-term loan to temporarily lower your financial burden. Many online options are available, so you can improve your financial situation from the comfort of your own home, click here for more information. As you shift your focus toward getting the available assistance you need, you can expect your personal situation to improve soon.
