As millions of Americans receive their stimulus checks, the treasury department is warning us to beware of scammers. Local financial professional Scott Braddock fromScott Braddock Financialjoins us to discuss what you need to know and how to protect your money.
First, for people who don't know, what's in the CARES Act?
This new law promises checks to most Americans, expands unemployment benefits and offers loans to small businesses. It also sets aside money for hospitals struggling to keep up with the resources needed to fight the coronavirus.
An estimated 93% of taxpayers will get a check. Adults making less than $75,000 per year will receive $1,200 and $500 for each child.
The amount you receive will phase out if you make more than $75,000, and those making more than $99,000 a year won’t receive any money.
f you want to calculate how much you’ll receive, check out our stimulus check calculator.
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