Since the pandemic stormed the world a year ago, various coronavirus stimulus checks have been disbursed by different governments. For Americans, they have enjoyed three coronavirus relief packages with the latest being The American Rescue Plan Act of 2021. The bill was passed on and signed into law by President Joe Biden this past Thursday following a vote of 220 to 211. Care to know who is eligible for this COVID relief package? Read on as we introduce everything you should know about coronavirus stimulus check.
The United States president Joe Biden signs the $1.9 trillion COVID relief bill, paving way for stimulus checks, unemployment relief, and vaccine distribution, among others. It is expected that 85% of Americans should receive direct payments of up to $1,400 in the next coming week. Unlike the first coronavirus relief package, adults will get the same amount as dependents. The first round gave $1,200 per adult and just $500 per dependent while the second round distributed $600 to everyone.
What You Should Know About Covid Relief Bill
What is the covid relief bill?
Covid restrictions caused a lot of problems for every business, both big and small. Covid-19 relief bill is an aid provided by the government to provide fast and direct economic assistance for its citizens while fighting the virus. Signed by President Joe Biden, the American Rescue Plan Act of 2021 is intended to assist American families, workers, business owners, and also preserve jobs for American industries. Americans will start receiving direct payments of up to $1,400 in their bank accounts.
When will Americans receive the check?
Looking back at the first round of checks in April 2020, it took the government two weeks to begin disbursing the coronavirus stimulus checks into Americans’ bank accounts. In the coronavirus second stimulus checks which were in December 2020, although the checks were smaller than $600, it only took a matter of days before payments were distributed since the infrastructure has already been put in place. This year, experts predict the check distribution could begin as early as this weekend, in late March, or early April.
Who will get a $1,400 check?
· The legislation will give individuals earning up to $75,000 or less payment of $1,200 or $1,400 each.
· Married couples who file their returns jointly will receive $2,800 i.e. $1,400 per person if they earn up to $150,000.
· If you claim a dependent or dependents on your tax return, an additional $1,400 for each dependent will be given.
· For each child under 17, families will get an additional $500.
The American Rescue Plan 2021 is quite different from the previous relief bill as it includes stimulus checks for dependents such as disabled adults and college students over the age of 16.
How do I get my check?
According to AARP Executive Vice President and Chief Advocacy & Engagement Officer Nancy LeaMond, the relief funds will either be deposited into your bank account or mailed to your address the IRS has on file. These options provide wider coverage, including those in need, unlike a payroll tax rebate which helps only citizens who receive payroll checks.
The Benefits Of Covid Relief Bill Taken To Business Owners
The pandemic hit business owners but thanks to the new covid relief bill, eligible businesses can fully recover. The fund comes timely for small businesses that have been trying to stay alive during the pandemic. Here are four big ways business owners would benefit from the stimulus check coronavirus.
· The new bill imposes fewer restrictions on how to utilize the loan.
· It also relaxes requirements to soften small loans.
· Massive tax breaks on business expenses – PPP loans will be treated as tax-free to the business.
· There are special provisions to help restaurants and small businesses.
Bonus Tip: Start A Dropshipping Business Online
While covid-19 affected many businesses, ecommerce business owners were constantly making huge profits. This is because the restriction order forced many supermarkets and stores to shut down, giving room for ecommerce businesses to trade. A lot of people purchased clothes, face masks, shoes, survival kits, and even food items online while at home. This further increased the popularity of online selling. Now that covid-19 is subsiding and many people are already used to selling online than before, there is an opportunity for new retailers to start selling online. With the stimulus check, anybody can easily start selling online right away. Do not worry, you won’t have to spend all of your stimulus checks if you start dropshipping.
The dropsipping business model allows you to sell online without owning any inventory, renting a warehouse, or bothering about shipping and delivery. The supplier takes care of all of those. All you need is a niche, a trustworthy supplier, a website, and dedicate around 3 hours daily online. Choosing a niche is very easy; there are numerous free tools to help you make the right choice. However, choosing a reputable dropship supplier can be difficult as there are thousands out there. Giant companies such as Amazon, eBay, Shopify, and Walmart spearhead this list but for beginners, we recommend using a less competitive wholesale supplier platform like saleyee.com.
The SaleYee platform is a leading dropship wholesale supplier in China. They make drop shipping easier for beginners by providing:
· 30,000+ profitable SKUs
· 630,000+ sq.m. Local warehouses
· Fast & free delivery
· Responsive customer support
· Free membership & big discounts
· Up to 3 months after-sales period
Getting started is as easy as visiting saleyee.com. Your journey to selling online can be exciting with SaleYee’s impeccable customer assistant service.
Conclusion
After the coronavirus second stimulus check update, we all thought the government has done enough. But here’s a third in one year. The essence of the third coronavirus stimulus check is to make provisions for both citizens and boost the economy while fighting the deadly virus. For business owners, the coronavirus relief bill stimulus check will help them keep employees on the payroll.
