The Internal Revenue Service and the Treasury Department are beginning to send nearly 4 million economic impact payments by prepaid debit card, instead of by paper check or direct deposit.
Republicans universally rejected a $3 trillion stimulus measure drafted by House Democrats to bolster the U.S. economy, but the draft plan has the seeds for an eventual, smaller compromise.
Padgett Business Services’ Roger Harris suggests some exceptions for employers with fewer than 50 staff.
Leaders of Congress’s tax-writing committees want employers to be able to continue providing health insurance to their furloughed employees and still qualify for tax credits.
Treasury Secretary Steven Mnuchin says the additional funding Congress approved Thursday to help small businesses survive the coronavirus pandemic should be the last round, but advocates fear it’ll run out quickly and won’t be enough for mom-and-pop shops struggling to stay open.
Democrats on the tax-writing House Ways and Means Committee have sent a letter to Treasury Secretary Steven Mnuchin asking what has happened with the delayed economic impact payments.
Recipients of Social Security benefits, as well as railroad retirement and veterans benefits recipients, will need to act fast.
The Treasury Department and the Internal Revenue Service are partnering with the U.S. Department of Veterans Affairs to deliver economic impact payments automatically to veterans and their beneficiaries, without filling out extra forms, in response to the COVID-19 pandemic.
People who receive Supplemental Security Income will automatically get economic impact payments from the federal government in response to the novel coronavirus pandemic.
The Treasury Department has created a web-based portal through which state, local and tribal governments will be able to access payments to help offset the costs of the novel coronavirus pandemic.