COVID-19 CRISIS
STIMULUS PACKAGE

THE CARES ACT BREAKDOWN



  • The US House of Representatives and the Senate passed a $2 trillion relief bill - The Cares Act - to keep the economy moving forward
  • Qualified individuals will receive up to $1,200 per person (or $2,400 for married filing jointly) with an additional $500 per child
  • The Act will provide $350 billion worth of loans to small businesses
  • The Act also provides a refundable payroll tax credit equal to 50% of “qualified wages”
  • Federal Income Tax Returns normally due on April 15 will not be due until July 15, 2020
  • The Act extends unemployment benefits from 26 weeks to 39 weeks
  • It also provides unemployment benefits for self-employed workers and contractors

Sources: CNN, Forbes, Zenefits, Smart Assets

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WORKING TOWARDS A BETTER

MIAMI-DADE COUNTY