CARES ACT: PPP & Stimulus Payments
The Federal Coronavirus Aid, Relief, and Economic Security (CARES) Act provides emergency relief programs to consumers and small businesses. Originally passed in April 2020, it aims to help fight the financial effects of the pandemic. In early January 2021, Congress approved additional support through Economic Impact Payments (stimulus payments) and Paycheck Protection Program (PPP) funds.
Economic Impact Payments
The payments, also referred to as stimulus checks or payments, have already begun to be distributed. The payments are automatic for taxpayers who filed tax returns in 2019 and most seniors and retirees. If you have any questions regarding your stimulus payment, the best source of information is the official IRS website at www.irs.gov/coronavirus.
They have also created a Get My Payment website where you can:
- Check your payment status.
- Confirm your payment type: direct deposit or check.
Enter your bank account information for direct deposit if the IRS doesn’t have your direct deposit information and they haven't sent your payment yet. You can also update your routing/account numbers if they have changed.
If you have moved since you last filed, you can notify the IRS to provide your new mailing address. For more information visit the official IRS website at www.irs.gov/coronavirus.
Paycheck Protection Program
Congress has recently passed additional funding for the Small Business Administration (SBA) Paycheck Protection Program (PPP).
We recognize how important this program is to you and your business and we want you to be as prepared as possible. Stay up to date with the latest information on PPP: