In a few weeks, you're likely to get some money from the $2 trillion stimulus payout. But it's not totally clear how you can actually access the money...
Here's a quick guide:
First off, most families in the U.S. will get $1,000. This payment is especially welcome, as a record number of people are likely to be unemployed in just a few weeks time in the first half of 2020.
The money is sent from the government through direct deposit; the government wants the money directly getting into your hands.
You can retrieve your direct deposit by going to the IRS website. The Treasury will set up a portal on the IRS website.
While some are concerned the money isn't moving fast enough, once it starts moving, it's very accessible.
For small businesses, you're getting loans from the government. The process here is a bit more complicated.
"Under the $2 trillion CARES Act, checks will be sent directly to households under certain income thresholds, loans will be available to small businesses, and a handful of corporate tax provisions were temporarily modified to get cash into the hands of businesses right away. For businesses, this package is intended help corporations continue operations and hopefully retain employee," Cathy Koch, Americas Tax Policy Leader at Ernst and Young told TheStreet.
But there's more. Watch the quick video above.
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