The newest stimulus bill has brought significant changes not only to entrepreneurs but individuals, too

New research indicates that ongoing payments, such as unemployment insurance or universal income, may have more of the desired stimulus effect. How are people spending their stimulus checks? An ongoing study from the Kellogg School of Management at Northwestern University finds that one factor predicts how people spend their stimulus checks: their bank account balance. Those with under $500 in their bank accounts spend nearly half of their stimulus check within 10 days, while those with more than $3,000 in their bank accounts do nothing. (Well, one assumes they smile, at least briefly?) Read Full Story

A second stimulus check from the IRS would be nice, but don’t count on it just yet. The bill faces an uphill battle in a Republican-led Congress. Democrats in the House of Representatives put forth a new stimulus package proposal yesterday, and—good news!—it includes a second round of stimulus checks for Americans hurt by the ongoing global pandemic. For example, the 33 million people currently jobless due to COVID-19. Read Full Story

The skinny bill failed as it was expected to. Election Day is less than two weeks away. Is there any hope for a COVID stimulus package before November 3? On Wednesday, the Senate voted on a new “skinny” stimulus package for coronavirus relief, which is not to be confused with last month’s failed “skinny” stimulus bill. This one included more weekly unemployment benefits, as well as $100 billion for schools. Here’s the latest update on what’s happening with the long-stalled coronavirus relief efforts on Capitol Hill: Read Full Story

Happy Inauguration Day! Next comes your $1,400 stimulus check from Joe. Maybe. Joe Biden is launching his presidency with an approval-ratings elixir: $1,400 stimulus checks for all. What stands between that proposed check and your bank account? A lot. Will you get one? And when? Read on. Read Full Story

The $2 trillion relief package provides penalty-free early retirement-account distributions and increases loan limits.

Employers must consider all financing options regardless of where we stand on a forthcoming stimulus package.

Although an agreement has yet to be reached, the nine-month standoff in Congress over a stimulus package for coronavirus relief has at least thawed. Huge progress! In the last 48-hours, the nine-month standoff in Congress over a stimulus package for coronavirus relief has thawed, with more lawmakers now getting behind a new bipartisan proposal for a $900 billion bill, including leadership on both sides. Here’s the latest: Read Full Story

Congress finally passed further Covid relief, and it potentially bodes well for a range of small businesses.

8 million prepaid debit cards will be sent out this week. Here’s what the envelope with it looks like–so keep your eyes peeled. Millions of Americans have received their $600 stimulus check by direct deposit since the beginning of the new year. Yet many are still waiting on the Covid-related Economic Impact Payment. Read Full Story