On Friday, March 27, 2020, the federal Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law after the House of Representatives passed it earlier that day. This bill is the largest relief package signed into law in United States history and will impact nearly every person in South LA.
To create a safety net for those whose jobs and businesses are affected by the pandemic, the stimulus will provide one-time payments to taxpayers. The stimulus will provide a one-time payment of $1,200 to qualifying adults with no annual income or incomes not exceeding $75,000 per year. A one-time payment of up to $2,400 will be provided to joint-filers with an annual income totaling less than $150,000. Families will also receive an additional $500 per child. You must file a tax return for 2018 or 2019 to receive this payment.