Stimulus Checks, $1000 Checks, Next Wave & Updates 4-25-2020
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SBA Page: https://covid19relief.sba.gov/
Pitfalls of the PPP: https://youtu.be/abixgNEREM0
Next Wave of IRS Stimulus, by WSJ: https://www.wsj.com/articles/n....ext-wave-of-irs-stim
The next wave of IRS direct deposits is expected to arrive by April 29th. If you received an overpayment or you make more money in 2020, are you required to repay your stimulus check? No. The IRS has clearly stated that no repayment is required by law. If you make more money or you receive an additional $500 for a child who no longer qualifies, you do not have to repay the stimulus money.
If you are waiting for your tax return to be processed or you are receiving errors on the IRS portal, use the IRS2Go app to check the status of your tax return. It has to be processed before the IRS.gov/eip portal will work and remove error messages.
Additionally, a lot of questions have been coming up regarding the EIDL Grant. Remember, the EIDL is a loan, but you receive a free “advance” that does NOT require repayment EVEN if you get denied for the loan. The Emergency Injury Disaster Loan is an SBA (Small Business Administration) program to give you an affordable loan. Again though, you do not need to actually take the loan to receive the free grant money. When the portal comes up, you are self-certifying your information and the impact to your business by the disaster.
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