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Financial Resources Related to Coronavirus

New Unemployment Benefits
The CARES Act included new benefits for people whose employment is interrupted in any way because of COVID-19. If your hours or pay are reduced because you are sick, you are caring for someone sick or a child in school at home, your employer reduced or eliminated your hours, you are self-employed or work by contract or gig, you are likely eligible for benefits. You may be eligible if you are choosing to stay home becaues of the public health orders of the authorities; check with your relevant state office.

It is important to file as soon as possible to begin receiving benefits.

There is somewhat new information about expanded coverage in Massachusetts for self-employed, independent contractors, workers with limited work history, and others. This coverage is retroactive to the beginning of the pandemic emergency in many cases -- click here

New Hampshire Employment Security website
Massachusetts Unemployment Insurance (UI) Online

If You Cannot Pay Your Rent or Mortgage
Contact your landlord or lender immediately if you have any issues or need to work out an extended payment plan. Certain Federally-backed mortgages, or rent payments in buildings financed by Federally-backed mortgages, are eligible for extensions without penalties. In New Hampshire, the governor's executive order includes a moratorium on eviction, but everyone needs to make arrangements with landlords or lenders on payment plans for accumulating obligations. There are organizations working on forgiveness programs but nothing statewide is in place at this time.

Food Assistance -- Nashua Soup Kitchen and Shelter
Updated here

Small Business Assistance
The CARES Act includes loans for businesses to cover certain payroll and facility costs, which will be forgiven entirely if employees are kept on the payroll through June 30. According to the news, the initial funding for this program are all claimed, and Congress is working on another round of funding. There are other programs specific for businesses or organizations with existing SBA loans. Here is one useful link to programs of the Federal Small Business Administration.

Information About Economic Impact Tax Rebate
The IRS is in the process of completing information about the payments; see the current information here. Many people will receive up to $1,200 per adult and $500 per child, subject to some income phase-outs and caps. If you have filed a tax return for 2018 or 2019 and the IRS has your banking information, the payment is supposed to be deposited directly.

If you have not provided that information, one way to do so is to file a 2019 return now with your account information, even though the payment due date has been pushed back to the summer. An alternative way to supply the information is in the works. Paper tax returns have indefinite delays in processing due to disruptions in in-person staffing at the IRS.

The tax rebate will not be considered taxable income.

General Information on Local Resources from United Way of Greater Nashua
Updated here

Fri, May 29 2020 6 Sivan 5780