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How will the Stimulus Bill affect you?

Most Americans will receive coronavirus checks with adults receiving $1,200 per person and families with children receiving an additional $500 per child.  The amount received is based on your Adjusted Gross Income.  Single filers earning < $75k will receive the full amount, and married filers earning <$150k will receive the full amount.  For every $100 earned over the limit, the benefit will be reduced by $5.  Thus, a single person earning $99k> and married filers earning $198k> will not receive a check.  If you filed your 2019 tax return, and received a refund directly into your checking/savings account via direct deposit, the stimulus payment will be deposited into your account in the upcoming weeks.  Finally, if you received a refund check or paid your taxes by check, then a stimulus check will be mailed to your home address.  These may take 2-3 months to arrive.

For more information and resources on the COVID-19 crisis, please see below.

Resources:

The Paycheck Protection Program is an SBA loan that helps businesses keep their workforce employed during the Coronavirus (COVID-19) crisis. See Resource Links section of this page for details (below)

Overview of Paycheck Protection Program

Breaking It Down: Paycheck Protection Program and the Economic Injury Disaster Loan

Message from  Senator Bob Mensch: We received additional clarification from the Department of Community and Economic Development (DCED) regarding businesses who are waiting for their waivers to be approved. If your business has submitted a waiver and has not received a response, please DO NOT resubmit a waiver. DCED is working quickly to process 25,000 waivers at this time and will respond to your waiver as soon as possible.  If your business receives conflicting information from DCED on whether or not your business is essential, please contact my office at 215-541-2388, or your local Senator if your business resides outside of District 24.

The deadline for Pennsylvania to comply with the federal government’s REAL ID identification standards has been extended by one year to October 1, 2021.

UPDATE 3.23.2020:  Governor Wolf Issues Stay-At-Home Order in local counties beginning Monday, March 23, 2020 at 8PM

Governor Wolf’s Order

Secretary of Health’s Order

Stay at Home Guidance

March 21, 2020: Gov. Wolf, Updates “non-life sustaining” buisnesses – Industry Operations Guidance

Resource Links:

BUSINESS RESOURCES FOR COVID-19 – PA CHAMBER

Update April 1.2020:  Life sustaining business FAQ

COVID-19 Data Hub info for Employers

COVID-19 Data HUB info for Workforce (includes Unemployment Compensation Information)

FMLA and COVID-19:  Families First Coronavirus Response Act: Employee Paid Leave Rights

Information for Pennsylvania Employees Impacted by COVID-19


THE CONTENT IN THESE ARTICLES WERE PREPARED BY THE ARTICLES’ AUTHORS. VOYA FINANCIAL ADVISORS, INC. MAKES NO CLAIMS, PROMISES, OR GUARANTEES ABOUT THE ACCURACY OR COMPLETENESS OF THE CONTENTS. INVESTMENT ADVISOR REPRESENTATIVE AND REGISTERED REPRESENTATIVE OF, AND SECURITIES AND INVESTMENT ADVISORY SERVICES OFFERED THROUGH VOYA FINANCIAL ADVISORS, INC. (MEMBER SIPC.) MENNINGER & ASSOCIATES, INC. IS NOT A SUBSIDIARY OF NOR CONTROLLED BY VOYA FINANCIAL ADVISORS, INC.  CN1156963_0421

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