There has been much confusion around whether unemployment benefits under the CARES Act are taxable or not. As an unfortunate surprise to many, the unemployment benefits are indeed taxable.

On December 27, 2020, President Donald Trump signed the $900 billion coronavirus relief bill that included $600 checks to millions of Americans struggling financially amidst the ongoing pandemic.

Times are challenging for everyone, and no matter your occupation, you are no doubt feeling financial strain thanks to COVID-19. It’s possible that the pandemic has not been kind to our checkbooks, our mental health, or our relationships.

Over half of Americans live paycheck-to-paycheck, and additional financial stress has been added since the worldwide spread of the coronavirus. More than 40 million Americans are unemployed and having to file for unemployment benefits.

Since the coronavirus outbreak, there have been a total of 26 million Americans who have filed for unemployment.

The three major credit bureaus Equifax, Experian, and TransUnion, are now offering free credit report checks every week until April 2021.

Sixty ($60) billion has been set aside for Community Banks and Smaller Credit Unions with the goal of funneling more money to small, rural, and minority-owned businesses.

On March 13, 2020, the president announced that interest would be waived on all federally held student loans.