To the EMS Community of Vendors, Staff and Beyond:
As many of you may know, Congress passed an Economic Stimulus Bill in light of the economic devastation that has come as the result of the COVID-19 pandemic. The intention of this bill is to get much needed money in the hands of all Americans, both individuals and small businesses as quickly as possible. While some of the implementation details are yet to be confirmed, this much we do know:
Direct Payment Information (Administered by the IRS)
1. Direct payment of $1,200 to an individual, or $2,400 for couples will be issued. Each dependent child increases this amount by $500 2. A person’s last IRS tax return will be used to determine how many dependents for payment purposes. Whoever you claimed on your last tax return as a dependent, you will get $500. Those of you who did not file a tax return are still eligible, but you will have to use Form SSA-1099 for this purpose 3. We at the IRS are issuing the payments to everyone via direct deposit a. If you do not have direct deposit set up with the IRS, we highly suggest you do so as a check from IRS will take months to receive 4. The intention is to get the payments out to everyone as quickly as possible, ideally within the next 10 days if possible 5. For any IRS assistance including setting up direct deposit, you can call 1-800-TAX-1040 for assistance
Enhanced Unemployment Benefits for All
1. For everyone that was eligible for their respective state’s unemployment benefits, the Federal Government will pay up to an extra $600 a week 2. This weekly payment from the Federal Government will last for up to 16 weeks (4 months) 3. This additional payment from the Federal Government will be extended to independent contractors and self-employed individuals as well 4. Unemployment benefits would also be extended to those who typically do not qualify, such as gig economy workers, furloughed employees and freelancers 5. The details on the implementation of this HUGE benefit are yet to be confirmed, but suffice it to say, this is the single largest benefit to the entire vending community 6. The one action you MUST take to be eligible for this $600/weekly benefit is to file for unemployment in your respective state
As each day passes and more clarity is provided we here at EMS will provide as much information as we know as to the “hows” and “wheres” of getting these much needed benefits.
EMS Management Team