New stimulus bill signed into law today 3/11/2021.
Here’s a brief summary of a few things it includes:
✅ Stimulus checks worth up to $1,400 per person. There are restrictions based on how much you make.
✅ Unemployment assistance - A $300 federal increase to weekly jobless payments and extending two key pandemic unemployment benefits programs until 9/6.
✅ State and local aid: The legislation provides $350 billion to states, local governments, territories and tribes.
✅ Tax credits: The bill increases the child tax credit from $2,000 to $3,600 for each child under 6 and $3,000 for each child under age 18.
Make sure you have a CPA on your side to educate you on how this bill may impact your overall tax position.
If you have questions or need a CPA, reach out.