香蕉视频苹果下载At The Wall Street Journal, our reporters deliver thorough and accurate information about all aspects of money and finance daily. Now, we’re here to tackle your questions about money amid the coronavirus pandemic.
Here you’ll find the latest information you need to manage your finances during this crisis. No question is too simple. So ask us.
What are the stimulus checks?
香蕉视频苹果下载This year’s stimulus check is a one-time payment from the U.S. government. The payments started going out the week of April 13.
香蕉视频苹果下载All U.S. residents, including those with no income, qualify for a one-time $1,200 payment for each adult and $500 for each child under 17. The payments start to phase out for individuals making above $75,000 a year and couples making more than $150,000 a year.
香蕉视频苹果下载You must have a Social Security number to get a payment. If you are a dependent on someone else’s tax return and you aren’t a child, you don’t get a payment.
How can I sign up for the payment?
香蕉视频苹果下载 How can I receive the payment if I don’t file taxes?
Do I have to sign up if I receive Social Security benefits?
What if I don’t have a bank account?
The payments will be sent by mail as a paper check to those without bank accounts. You must have a Social Security number to get a payment.
香蕉视频苹果下载What are the options I should consider before spending my stimulus check?
香蕉视频苹果下载Think about your individual situation. While the payment might not make up for a lost paycheck, those who face economic uncertainty can put the money toward the expenses of their daily lives. Saving some of the payment might make individual sense, too.
香蕉视频苹果下载If you don’t need to spend the money immediately, experts say you should keep it accessible in case you need it later. So consider putting the money in a checking account or savings account, instead of locking it up in a certificate of deposit or in the stock market, where the money can lose value.
香蕉视频苹果下载Do stimulus checks have to be repaid?
香蕉视频苹果下载No. The money does not have to be repaid. The last time economic stimulus payments went out to Americans was during the onset of the 2008 financial crisis. Then as now, the payments are funded by the federal government, with no strings attached.
香蕉视频苹果下载What is the temporary suspension on student loan repayments?
What must I do to get my repayments suspended?
I made a payment after March 13. Can I get the money back?
香蕉视频苹果下载While the suspension of monthly payments is retroactive to March 13, loan servicers were given until April 10 to implement the change. As a result, some borrowers may have had automated payments taken from their accounts after March 13. In that situation, ask your loan servicer for a refund if you want one.
香蕉视频苹果下载Can I suspend private loans?
I am in a loan forgiveness program. Will my payments be suspended?
Yes. Even better, the paused payments will count toward your loan forgiveness. If, for example, you are enrolled in the federal government’s Public Service Loan Forgiveness program, the six suspended payments can be applied to the 120 you must make before the balance can be forgiven.
What if I can’t make my mortgage payment this month?
You can apply for forbearance. This means you can suspend monthly payments temporarily. Borrowers can request up to 180 days of forbearance. (Most servicers are offering 90 days, but some are offering six months.) The payments aren’t forgiven, and usually you’ll have to make them up relatively soon—not at the end of your loan.
If the loan is federally backed—and about 70% of mortgages in the U.S. are backed or insured by a federal agency—then the company that collects your payments is supposed to grant the suspension, according to the federal government’s stimulus law.
Is anyone allowed to apply for forbearance?
How can I apply for forbearance?
Get in touch with your lender before your monthly payment date. There is a grace period, typically two weeks, if you’re unable to reach your lender before your payment date. But if you want to suspend payments, you must get in touch before the grace period ends.
Many mortgage companies have posted options available to customers who have been affected by the coronavirus pandemic. If you can’t find the information you’re looking for there, try calling your company directly. But be warned: You likely won’t be the only one trying to get through.
香蕉视频苹果下载Should I do it?
香蕉视频苹果下载Who is eligible for unemployment insurance?
香蕉视频苹果下载You’re eligible if you are laid off or furloughed from your job. Currently, you’re also eligible if you’re self-employed or an independent contractor and seeking part-time employment.
香蕉视频苹果下载People who are diagnosed with Covid-19, have a household member with the illness or are unable to go to work because of quarantines are also eligible, as are individuals who had to quit their jobs or are laid off because of the coronavirus.
Some states expanded eligibility to include workers who don’t have access to paid leave or who might not meet certain work requirements, such as those who are quarantined.
香蕉视频苹果下载How do I apply?
香蕉视频苹果下载Apply on your state’s website or over the phone. States are recommending people apply for benefits online given the high volume of calls.
Once an application is submitted, processed and approved, weekly unemployment payments then arrive through a mailed debit card or direct deposit.
香蕉视频苹果下载How much will my unemployment check be?
It varies by state. The new stimulus law increases unemployment assistance in every state by $600 a week for up to four months. In New York, for example, the state’s maximum weekly benefit check is about $500. That would increase to $1,100 a week.
How long do the benefits last?
香蕉视频苹果下载What are the changes to the tax-filing deadlines for individuals?
What does the tax extension deadline to July 15, 2020 mean for my refund?
If my first-quarter estimated tax payment due on April 15 is now due on July 15, what about the second-quarter payment, due June 15?
香蕉视频苹果下载Are state-tax deadlines also delayed?
香蕉视频苹果下载Most states have extended individual income-tax deadlines, typically until July 15. For the latest information, check this chart from .
I realized I haven’t yet claimed my tax refund for 2016, but the deadline to file for it was supposed to be April 15, 2020. Is that also delayed to July 15?