Waiting for stimulus check or unemployment benefits? Here’s when they might arrive
Another few days and that cash payment of $1,200 or more should be in most people’s bank accounts.
And the $600 extra unemployment resulting from last month’s federal economic aid package will start showing up in accounts Sunday.
Washington and Sacramento officials say they’re working furiously to get economic aid to the people who need it most, which nowadays is just about everyone. But not all money is going to come everyone’s way at the same time.
There’s no easy way to learn what’s coming when. Whether online or on the phone, response lines are jammed. Websites are not updated quickly. One suggestion: Contact your local congressional office.
But be warned: They’re swamped too. In the past two weeks alone, for instance, the office of Rep. Jim Costa, D-Fresno, has received 995 emails and 104 phone calls related just to COVID-19. Of those 155 have turned into cases; in normal weeks, the office opens 15 cases per week on different issues.
So the watchword among the experts is simple: “Be patient,” advised Nicole Kaeding, economist at the nonpartisan National Taxpayers Union Foundation.
Here’s an estimated timeline compiled from government agencies, Sen. Dianne Feinstein’s office and taxpayer and interest groups, subject to constant change:
Sunday
Gov. Gavin Newsom said Thursday that’s the day when the $600 a week federal unemployment benefit will be available to California workers.
Before the coronavirus outbreak triggered an unprecedented number of applications, about 80% of first time claimants got their checks within three weeks. The agency has been increasing staffing and working extra hours and is still aiming for that timeline.
California now provides a maximum of $450 of state benefits per week to claimants, and the federal government will provide another $600 weekly until the end of July. The money will all be included in one check once the proper system is up and running.
The state’s Employment Development Department, which manages the program, estimates that waits for receiving benefits should take about three weeks. The biggest problem claimants are having is simply getting through to the department.
Early next week
Treasury Secretary Steve Mnuchin said April 2 cash payments would be begin “within two weeks,” and funds could show up in your bank accounts as soon as Monday.
An estimated 60% of filers should see the extra funds distributed this way. Eligible for the full $1,200 per adult amount are individuals with incomes of $75,000 or less and joint filers earning $150,000 or less, plus $500 per child.
The amounts are then phased out for higher incomes, and is unavailable entirely for individuals who earned $99,000 and couples who made $198,000. The incomes are taken from 2018 tax returns unless you’ve already filed a 2019 return.
April 24 and aid to California
State and local governments are due to get a total of $150 billion to help fight the coronavirus outbreak.
Allocations are made largely on population. California is due to receive $15.3 billion, and up to 45% of that money can go to governments of cities with more than 500,000 people. That is expected to include Los Angeles, San Diego, San Jose, San Francisco, Fresno and Sacramento.
The money should be released April 24, according to Erlinda Doherty, director of the budgets & revenue committee at the National Conference of State Legislatures.
April 24 and rebate checks
Anticipated starting date for issuing for paper checks for the lowest income consumers, probably those making $10,000 or less.
The Washington Post reported that paper checks would then be sent out depending on income, with those earning less than $20,000 due payments May 1. Each week, the income level would grow $10,000, a process that could take the entire summer.
There could be another alternative, though.
“In the coming weeks, Treasury plans to develop a web-based portal for individuals to provide their banking information to the IRS online, so that individuals can receive payments immediately as opposed to checks in the mail,” according to the House Ways and Means Committee Republican staff.
Ongoing
April 3 was the first day small businesses could apply for “Paycheck Protection Program” forgivable loans to help largely with payroll. Businesses generally must have fewer than 500 employees.
Some of the money can be used to pay rent, mortgages and utilities. Nonprofits, veterans organizations, tribal concerns, self-employed individuals, sole proprietorships, and independent contractors are also eligible, though not all can apply Friday (see below).
A total of $350 billion is available, and the National Federation of Independent Business is encouraging applicants to see their lender as soon as possible since there is a funds limit. There’s been criticism from banks and businesses that the government has not prepared lenders properly for the onslaught, so it could be awhile before you can get through.
In Washington, congressional lawmakers and the White House are seriously considering a plan to provide billions more dollars for the program quickly.
Anytime
Homeowners with Federal Housing Administration-insured mortgages can qualify to defer or lower payments for up to a year if they are unable to pay full amounts because of the coronavirus outbreak.
If you think you qualify, contact whoever handles your mortgage, the Department of Housing and Urban Development advises. And, the agency says,”you can use any available means of communication to contact your servicer to request a forbearance. This includes, but is not limited to, phone calls, emails, texts, fax, mail, teleconferencing, etc.”
Homeowners are also advised to contact a HUD-approved housing counseling office. Here’s a state by state guide to location; there are several in each state. Sacramento has three such locations, Fresno has two and Modesto has one..
This story was updated on April 10, 2020 at 8:40 a.m. PDT
This story was originally published April 3, 2020 at 1:45 PM with the headline "Waiting for stimulus check or unemployment benefits? Here’s when they might arrive."
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