The Coronavirus Aid Relief and Economic Security Act (CARES Act) was a very broad reaching piece of legislation that is extremely complex. In addition, there are many details that are unclear or need to be developed. However, there are some issues important for individuals and families that are known. Here’s what you need to know.
All US residents with adjusted gross income of $75,000 or less will receive a cash payment of $1200, as well as an additional $500 per minor dependent. Those earning over $75,000 per year will receive a decreased amount based on actual income, up to an income of $99,000 per year. [Read more…] about What You Need to Know about the Coronavirus CARES Act