Questions tagged [covid-19]

COVID-19 is an infectious disease caused by a coronavirus discovered in Wuhan, China, in December 2019. The worldwide outbreak of the virus in the beginning of 2020 has led to severe global socioeconomic disruption and is expected to have major implications on world economy for years to come.

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Is there any compensation or financial aid for essential workers who died from COVID-19?

My mom was an essential worker (production plant) and contracted COVID-19 in July 2020 and died from it in August 2020. Her work required symptomatic people with no PTO to report to work or be ...
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Prior to COVID-19, had any country fiscally targeted unvaccinated individuals? [closed]

Upon reading that Quebec may impose a health tax on unvaccinated Canadians, I wondered the following: Prior to COVID-19, had any country fiscally targeted unvaccinated individuals?
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Is fixed deposit a good option during COVID days? [duplicate]

In Aug 2020, I left my job and joined 3 years full-time post-grad program. So 1.5 years is already over. Leaving my job during COVID days made me concerned. So I felt I should have significant ...
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Accrued Interest Rate in times of Covid

I had about $3000 dollars in accrued interest prior to the Covid Forbearance period. I understand that there is no interest during this Forbearance period. I'm seeing that the accrued interest is $0 ...
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How much more do cars cost because of Covid?

I'm wanting to buy a car in the next few years. Covid caused used car prices to jump, and new car prices followed along. Prices have started to come back down, but my understanding is that they're ...
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(COVID) How to request fine reduction? (USA-NJ)

I have been renting a unit with Newport Management, Jersey City since August 2020 and have been on time with my rent for the past 11 months. For the last 6 months I am unemployed and have no income, ...
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Third economic impact payment did not include new child

Check was sent for $2800? What are the steps to obtain additional $1400 for child? I was perusing below to no avail: IRS 3rd payment here
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How can I can I cash American checks when living in the Netherlands?

My wife and me have worked in the USA from 1968 until 1978 we are Dutch citizens and receive every month retirement payments in our Dutch bank account. We received $600 and $1400 stimulus checks each ...
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US dual-status alien for 2021: eligible for third covid stimulus check?

From the IRS guidance on eligibility for the Third Economic Impact Payment (covid/coronavirus relief): A person who’s a qualifying resident alien with a valid SSN is eligible for the payment only if ...
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Deposit stimulus check electronically without signatures?

We went through the process of moving, and now I can't find the stimulus check. I did take pictures of the check before moving, but the check doesn't have our signatures. Since my bank lets me deposit ...
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Handling rent debt in California

Due to the pandemic, I was unable to pay rent for my apartment complex that I have now moved out of. I do not have the money to pay this debt because I was unemployed because of the pandemic. ...
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Is it even worth working a minimum wage job right now given the government's pandemic response?

The work I was doing prior to COVID got shut down. I have since started a retail job that is close to minimum wage ($14.70/hr). I normally work 30-40 hours per week. Also I have some very part time ...
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Can 2020 workplace for state income taxes be changed retroactively due to COVID?

We are residents of Pennsylvania. I work in Pennsylvania and my wife works in Delaware. Like many people working office jobs last year, we started working at home in mid-March 2020. My wife was ...
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Why on PPP application lenders distinguish between sole proprietor, partnership, independent contractor or self-employed?

Lenders on PPP applications call these "Entity types" without further defining this term. However, best to my knowledge: Sole proprietor is someone who owns 100% of business and files ...
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PPP 2.0: Can businesses that were not operational in 2019 use 01/01/2020-02/29/2020 period for average payroll cost calculations?

Official SBA PPP 1.0 FAQ had this answer: Question: What time period should borrowers use to determine their number of employees and payroll costs to calculate their maximum loan amounts? Answer: In ...
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How do I claim my additional Economic Impact Payment if I married after getting the first?

I received the original EIP last spring, then later on in the year, I got married. Early in 2021, I received the $1,200 for the second EIP, but I want to claim the additional $1,200 now that I have a ...
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What is my registered address for UK car insurance?

I am about to buy a car and I need to put down my registered address for both the car insurance and VC5 logbook etc. I own a house in City X, and this is where I work and vote etc. However, due to ...
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Eligibility for stimulus payments

In 2020 I became a resident for tax purposes via the substantial presence test. I also got married in 2020. My wife is from Canada, moved to the US mid to late 2020, but has not yet passed the ...
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Does LLC payment count as payment to me (for unemployment purposes)

In the summer I received unemployment payments from California thanks to new federal laws that gave benefits to self employed business owners. The specific TYPE of unemployment for self-employed ...
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Filing state taxes as a pandemic related WFH move

I lived and worked in NYC until last year. When my company mandated WFH in March 2020 due to the pandemic, I terminated my lease in Manhattan and rented a new place in Miami (near my family) from ...
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CERB - income requirement for small business owners - Can you refile and opt not to claim every expense?

So with the government clarification coming out that CERB qualification is based on $5k net income in 2019 rather than $5k gross income we are in a position where my family did not qualify for CERB. I ...
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UK Self-Employed Income Support Scheme (SEISS) eligibility

Will the fact that I have not been in the UK since 26th of June affect my eligibility for the third and fourth SEISS grants? My situation: I have been unable to work due to COVID since March. I have ...
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Where can I find a definitive list of FSA/HSA qualifying expenses?

I was recently informed that the Coronavirus Aid, Relief, and Economic Security (CARES) Act expanded the list of eligible HSA/FSA expenses to include things such as feminine hygiene products and over ...
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Swiss citizen work from abroad for UK company - tax queries

I am a Swiss citizen and have been in the UK for two years. I am now working from home for my company for the forseeable future. I already spent around five months working from home during the first ...
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Are Employer Taxes (medicare and social security taxes) eligible expense for PPP forgiveness purposes?

Let's assume sole proprietor with 1 employee received $10K in PPP loan. As per SBA at least 60% of PPP loan must be used for payroll expenses in the 24 week period. This means at least $6K. My ...
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Why did the Baltic Dry Index rise by 65% (YTD)? [closed]

The global economy is (almost) stopped and the price of crude oil is very low, so why did the Baltic Dry Index — an index that shows the cost per unit time of transportation in principal routes around ...
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Is it possible to receive money from the IRS with someone else's bank details?

As an expat living in Sweden I would like to claim my CARES stimulus money. I am (legally) a non-filer and would like to submit my bank details to the IRS so that they can send my CARES stimulus check ...
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Accidentally filed my taxes using TurboTax as a US citizen while I'm not

This is about an F-1 International student since 09/2019 and it concerns the 2019 tax year. I did my taxes properly and filed them by mail. A lot of time had passed and I couldn't even find my status ...
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My dentist charged me for PPE and my insurance won't cover it. Can I use my FSA to pay for it?

I recently visited my dentist for my semi-annual checkup. The checkup is covered by my insurance, but when I reviewed the EOB after the visit I noticed a $20 charge with code D1999/Unspecified that my ...
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Should I focus on repaying private or federal student loans during Covid-19 and CARES act?

The CARES act puts the interest rate for federal student loans at 0% until December 30th and there are no mandatory payments for student loans until that time. I owe $32,000 in federal loans, normally ...
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CARES Act 401k withdrawal requirements - Is this a hardship?

From my understanding, financial hardships related to COVID-19 can qualify an individual to withdraw money from their 401k, with literally no penalty so long as it is repayed to a similar retirement ...
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Is COVID-19 used car deals and lease renegotiation really a thing?

I have been reading that due to the COVID-19 pandemic, auto inventories are high and dealers often do not want lease returns. Wholesale auction prices are reportedly plummeting even as of a couple ...
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How to contact SBA regarding COVID19 loans?

I called SBA today on 415 744 6820 regarding a delicate PPP loan situation I am having. Over phone they delegated me to NorcalSBDC.org website (note the lack of .gov). And then they further delegated ...
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2 votes
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Dependent in 2019 and 2020 but not in 2018. Stimulus received. Does it have to be returned

An individidual was not a dependent in 2018. She is in 2019 and 2020, but she received her stimulus funds before 2019 taxes were filed. Is she required to return the funds?
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When does 7-1 (or 5-1) ARM make sense for mortgage?

I have seen previous questions from close to 6-8 years ago on this subject and so I am asking here for: relevance to 2020 (esp in the context of historic low rates and Covid-19) from an inverted ...
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Are employers who got their PPP loan on a later date better off than those who got it early?

My understanding is that payroll expenses that would be eligible for PPP loan forgiveness must be incurred immediately within the next 8 weeks when PPP funds appeared in the employer's bank account. ...
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1st stimulus check

I was wrongfully claimed as a dependent in 2018. In 2019, I filed my taxes as head of household on 4/7/20. I received my refund exactly 8 days later and according to the IRS website my 2019 tax return ...
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I'm employed with a good salary - when should I file for unemployment?

Due to the current pandemic & its economic effects my employer has recently cut back on salary by ~6%. Personally this has not caused any harm, but I want to be prepared in case things get worse ...
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Are there any penalties when selling my stocks and withdrawing from my ROTH IRA during the 2020 COVID Crisis in May?

I know there is a penalty if I withdraw if I'm under 59 years old. But was there a new law that took effect to let us sell and withdraw from our ROTH IRA without a penalty or tax liability?
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2 votes
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Who is going to pay for the October furlough (UK) and ~1K/week (USA)? [closed]

Forgive me if this seems like a dumb question but I'm serious. Could someone point me to an answer? A US economist friend of mine told me "no, they won't raise taxes because they want to stimulate ...
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2 votes
3 answers
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Can I contribute to two different calendar years in an IRA?

I noticed that my broker allows me to contribute to both 2020 and 2021. I have already maxed out my 2020 IRA contributions. Since I cannot deduct anything from my income via these contributions due to ...
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Is preschool closure (due to the pandemic) a qualifying event for Dependent Care FSA?

I'm trying to figure out of closure of my daughter's preschool meets the qualifying event criteria so that I can reduce my dependent care FSA contributions. I've read a few places online that change ...
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Economic stimulus payment for a resident alien

Let me mention first that I was a non-resident alien for tax years 2018 and 2019, and I am considered a resident alien for 2020 taxes. Today I have received a stimulus payment check because I have ...
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SIP returns are negative due to COVID-19

Today, I checked all of my SIP accounts. I was shocked to see that the absolute returns for all of the schemes that I have been doing for the past 5 years are negative. It is because of COVID-19. ...
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How do I know when my applications for disaster relief loans have been approved?

I applied to all 3 programs as I have a business in NYC: SBA EIDL - Economic Injury Disaster Loan Emergency Advance PPP - Paycheck Protection Program NYC Small Business Continuity Program I think I ...
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2 votes
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Did not qualify in 2018 for stimulus but did upon filing 2019, after stimulus started

My 2018 tax return had an Adjusted Gross Income that made me ineligible for the Economic Impact Payment (EIP) stimulus check. I filed my 2019 taxes after the stimulus checks were already being sent ...
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PPP loan for business owner who "converted" 1099 contractors to w-2 employees starting from 2020?

Due to AB-5 bill passage many small business owners in California reclassified Independent workers (1099) as Employees (w-2) starting from January 1st 2020. Now when filing the PPP loan application ...
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Wondering if I’m eligible for the stimulus

I was claimed as a dependent on 2018 taxes and I didn’t file for 2019. I applied for the stimulus as a non filer and was accepted, but am I eligible? I was not claimed for 2019. I applied over a week ...
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Why did the stock price go down for so many sectors during the COVID-19? [closed]

Consider an airline like Air Canada whose share price dropped to almost half in the past two months. Stock prices change with supply and demand so many more people must have been selling the shares ...
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2 votes
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Can I file my 2019 taxes electronically if I already sent them by mail?

I put my 2019 taxes in the mail in early March, before everything shut down. Checking the IRS website, it doesn't seem like my taxes have been processed, and I know they have stopped processing paper ...
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