- The stimulus check for all US Citizens and legal residents (Economic impact payment)
- Paid Sick Leave
- Paid Family Leave
- Student Loan help
- The additional help/ money in the unemployment
- The ability for independent Contractors to apply for unemployment
- Increases the maximum 401(k) loan that may be taken from a 401(k) account to $100,000 (formerly $50,000)
- Enhanced loan availability and relief for outstanding loan repayments
- Waived early withdrawal penalty
- Waived Required Minimum Distribution (RMD) for 2020 calendar year
- Waived early withdrawal penalty
Stimulus Payments for all individuals
All people with social security are expected to receive stimulus payment in cash directly from the IRS as seen from the table below.
| Criteria | Stimulus Amount | Income level limitations | Basis of the payment | How would you receive the payment |
|---|---|---|---|---|
| Single person making $75K or less | $1,200 | Amount is reduced above $75 and phases out at $99k | 2019 Adjusted gross income (Line 8b. on form 1040 on personal return). | You will receive the money directly in your bank account with the IRS. |
| Married couple making $150K or less | $2,400 | Amount is reduced above $150K and phases out at $198K | 2018 Return if you have not filed 2019. | If the IRS does not have your account info, call the number on the notice you will receive from the IRS |
| Each child under 16-year-old | $500 | Make sure you have one of these 2 returns filed. |