![]() ![]() ![]() A married couple with two children would get $3,400. ![]() The plan provides up to $1,200 for each adult and $500 for each child under 17. This column will focus on issues related to the actual stimulus payments and qualifications, along with changes in income taxes, student loans, retirement plans, unemployment benefits, and other issues related to personal – as opposed to business – finance. It is a vast and complex plan, with the aim of getting money into the system as soon as possible. ![]() The Coronavirus Aid, Relief and Economic Security Act (CARES) - is a $2 trillion stimulus package to provide financial relief to individuals, families and businesses. If I didn’t answer your issue, please post your question on my “Ask Terry” blog – and I will do my best to get answers from the experts. With the help of TurboTax, CPA and tax expert Lisa Greene-Lewis, here are some answers to your most basic questions. Who gets what – and when? That’s the question everyone is scrambling to answer. As I have other updates, I will post them here. The process could take weeks to complete. Please note that this entire Stimulus Package is a work in progress. Look for updates on this form at IRS.gov/coronavirus. The latest word from the IRS is that they will soon provide information for people who are not otherwise required to file on how to create a special, simple 2019 tax form (even with no income reported) to give information about your filing status, number of dependents,and direct deposit bank account information, if you have a bank account, or mailing address.
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