We are receiving an enormous amount of emails concerning the payout of the stimulus plan
Here are the most asked questions about the plan:
How will my funds be delivered?
As of now the Treasury department is considering the following three methods of distribution:
🔸 Direct Deposit
🔸Paper Check
🔸Mailing pre loaded debit cards.
None of these have been set in stone as of today but these will be the options they will select.
Is the check based on my 2018 & 2019 taxes?
If you have filed 2019 that’s what is based on, if not they will use 2018 tax return.
Will my tax preparer get my check if I used refund bank products?
The banks have been in contact with the IRS to suggest direct disbursement to the taxpayer. Once they accept the proposal we will we notified.
What is being done for small businesses?
The bill will use $350 billion for loans to nonprofits and small businesses with less than 500 employees. The loans are guaranteed by the SBA(small business association) To see if you qualify and to apply use the link below
https://disasterloan.sba.gov/apply-for-disaster-loan/index.html
Will retired seniors get a check?
Yes, only if they are NOT being claimed as a dependent for someone else and they are within the income limits .
As always we will update you on information as provide to us from the Internal Revenue Service.
