Is There Going to be a Second Round of Stimulus?
On Friday, May 15th, the House passed the fourth stimulus relief package titled the Heros Act. This government relief includes another round of stimulus payments, hazard pay for essential workers, six additional months of coronavirus unemployment, funding for state government, and more.
Stimulus Checks:
This would be another one time payment to those who qualify. The amount would be the same at $1,200. For children that received $500 in the previous relief package would receive $1,200 with a cap at $6,000 per household/family.
Essential Workers Hazard Pay:
The Heros Act is a $3 trillion package, $200 billion of that would be dedicated to those that are risking their lives on the front line. This would also include low-income workers.
The Department of Homeland Security (DHS) defines essential workers as those employees who “conduct a range of operations and services that are typically essential to continued critical infrastructure viability, including staffing operations centers, maintaining and repairing critical infrastructure, operating call centers, working construction, and performing operational functions, among others. It also includes workers who support crucial supply chains and enable functions for critical infrastructure. The industries they support represent, but are not limited to, medical and healthcare, telecommunications, information technology systems, defense, food and agriculture, transportation and logistics, energy, water and wastewater, law enforcement, and public works.”
Since this bill has currently only been approved by the House. The Senate still has to pass for it to become a law.
Are you still waiting for your first stimulus payment? Has the Get My Payment app on the IRS site not been helpful?
The IRS recommends calling them at this number, 800-919-9835.
Additional Resources:
What about rehiring employees?
Coronavirus (COVID-19): Small Business Guidance & Loan Resources
Coronavirus Emergency Loans: Small Business Guide and Checklist