If you are experiencing economic hardship due to the coronavirus (COVID-19) pandemic, please know that we are sincerely sorry to hear that and want to help you find solutions. Fortunately, Congress has passed the CARES Act, a $2 trillion dollar relief package. We have curated various resources that may be useful to you below. (Click the blue headlines to open the resource in a new tab.)
The latest information from the Virginia Employment Commission, including links to apply for benefits.
“A record 3.3 million people filed for initial unemployment benefits last week, with millions more anticipated in coming weeks. All this has put a huge strain on state employment agencies, so experts say persistence is key to getting those benefits.”
“One component of the Coronavirus Aid, Relief and Economic Security (CARES) Act will provide an estimated $250 billion to expand unemployment insurance benefits. The stimulus package will increase the amount of money jobless Americans can receive, extend the length of time they can receive it and include more workers previously not eligible for assistance.”
“The State Corporation Commission (SCC) issued an order directing utilities it regulates, such as electric, natural gas, and water companies in Virginia, to suspend service disconnections for 60 days to provide immediate relief for any customer, residential and business, who may be financially impacted by the COVID-19 outbreak.”
“Over 80 percent of American adults will receive a payment.”
“Once the stimulus measure is passed by the House and signed into law, distributions would come via the IRS, which would use 2019 taxpayer forms to determine how much a person’s check should be and where it should be sent. If 2019 taxes have yet to be filed, the IRS would use information from taxpayers’ 2018 forms.
So if you haven’t filed taxes yet for one of those years, now is a good time.”
“Automakers are setting up programs to allow borrowers to defer loan payments if they have been financially impacted by the coronavirus pandemic.”
“Under the stimulus package passed by the Senate on late Wednesday, federal student loans will automatically have their interest rates set to 0% for a period for six months. Additionally, borrowers do not have to make payments during that six-month period.”
Other local and national resources: