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COVID-19 - Federal and State Assistance

We understand this is a difficult and confusing time for many of our residents. We want to make you aware of the many assistance programs that may be available to you. Please see below for information from various federal and state sources. Our thoughts are with you and your loved ones during these difficult times.

Financial Assistance Resources

The government is taking several steps to help people who are experiencing financial hardship during the current crisis.

Checks Directly from the Federal Government

If you filed a tax return in 2018 or 2019 and are:

  • Single and made less than $99,000 on your most recent tax return; or
  • Married and made less than $198,000 on your most recent tax return,

you will receive a check from the federal government.

How much money am I going to receive directly from the federal government?

If you are single and:

  • Made less than $75,000, you will receive $1,200.
  • Made between $75,000 and $99,000 you will receive some amount of money. Use the Stimulus Calculator available at the link below to estimate your stimulus payment.

If you are married and:

  • Made less than $150,000, you will receive $2,400.
  • Made between $150,000 and $198,000 you will receive some amount of money. Use the Stimulus Calculator available at the link below to estimate your stimulus payment.

If you have children, you will also receive $500 per child.

Use the FirstKey Stimulus Payment Calculator to estimate your stimulus payment.

I did not file a tax return in 2018 or 2019. Will I still receive a check?

Yes. If you did not file because you were not required to, then you do not need to do anything.

If you did not file for other reasons, you should file as soon as possible and provide your direct deposit banking information.

If the IRS does not have your information, they will try to get you a check, but it will take longer.

When will I receive my check from the federal government?

The IRS has said that it will send checks via direct deposit the week of April 13, 2020. If you have not set up direct deposit, the IRS plans to set up an online portal where you can give them your banking information.

Unemployment Benefits

If you have lost income due to the current health or economic situation, you may be eligible to receive unemployment checks even if you are self-employed, an independent contractor or have limited work history. For those that qualify, the federal government has guaranteed an additional 13 weeks of unemployment benefits through December 31, 2020, to help those who remain unemployed after state unemployment benefits are no longer available.

In addition, each eligible member of your household is entitled to an additional $600 per week of unemployment benefits for up to four months.

You need to apply for these unemployment benefits through your state of residence. See this page on unemployment benefits and select your state for more information.

How do I apply for unemployment?

Click on your state of residence to be taken to information for your state:

Access to Retirement Savings Without Penalty

During the current health and economic crisis, you may withdraw money (up to $100,000) from your 401(k) or other qualified retirement account without paying a penalty. Income would be taxed over three years.

What retirement accounts can I withdraw from without a penalty?

Examples of qualified retirement plans include 401(k), 403(b), profit-share plans, money purchase plans, defined benefit plans, employee stock ownership (ESOP) plans, salary reduction simplified employee pension (SARSEP), simplified employee pension (SEP) and savings incentive match plan for employees (SIMPLE).

Check with your employer to see if your retirement plan qualifies.

Student Loan Relief

If you have federal student loans, contact your student loan provider and/or cancel automatic payments. No payments on federal student loans are owed until Sept 30, 2020. Federal student loans are also not accruing interest until Sept. 30, 2020.

Small Business Loans

If you own or operate a small business, you may be eligible for a loan on favorable terms. Examples include:

  • Economic Injury Disaster Loan: U.S. businesses with fewer than 500 employees may be eligible for a loan on favorable terms. The loan application should take about two hours. For more information, visit this guide. Qualifying small businesses can receive:
    • A loan of up to $2 million;
    • Up to $10,000 in the form of a forgivable advance.
  • Paycheck Protection Program: U.S. businesses with fewer than 500 employees may be eligible for a loan to pay employees. The loan may be fully forgiven if it is used for payroll, mortgage interest, rent and/or utilities. For more information visit this article on SBA.gov.

Additional Information

We encourage you to frequently check for updates.

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Official website of the Center for Disease Control

Regular updates from the White House related to COVID-19

Links to State and Local Resources