Several clients have called to ask about the CARES Act and whether they can get the $1200 Economic Impact Payment available to everyone making less than $75,000. Until Wednesday of this week, we had to tell people to file an Income Tax return.
Late Wednesday, the Treasury Department reversed course and provided that seniors and disabled people who receive Social Security benefits will automatically get their payments. If you have your benefit check directly deposited into your bank account, an extra $1200 payment should soon be deposited. If your checks are mailed, an extra $1200 check should be mailed to you.