This month marks the end of three key benefits that were developed to help ease the financial strains on Americans during thepandemic, potentially harming the vast majority of unemployed workers, according to the Ways & Means Committee. The CARES Act, which was signed into law on March 27 by President Donald Trump, provided enhanced unemployment payments to supplement lost income from layoffs and a clause to .
But now this assistance is dissolving, with the $600 unemployment benefit stopping days sooner than was commonly thought. Although that might not make a material impact, it’s a jolt for those who thought they would be supported a few days longer.
The Senate plans to come together over a new rescue package by the end of July —— but it isn’t determined whether the bill will include more enhanced unemployment support or eviction stays. There are signs it could — perhaps .
Here are all the benefits that go away when the CARES Act expires and what — if anything — you can do.
Enhanced unemployment benefits are drying up
When cities across thein March, businesses temporarily closed their doors, leaving millions unemployed. As of July 11, nearly 33 million people are claiming unemployment benefits, as well as 13 million self-employed workers receiving assistance. In the week ending July 4, over 1.3 million people filed for unemployment for the first time, the Department of Labor reported.
By July 26, theon top of the usual allowance will end — a week sooner than originally expected, according to USA Today, which was first to report the news.
The US Department of Labor said this in a statement to USA Today, which was first to report the news:
The (Federal Pandemic Unemployment Compensation) $600 can be paid for weeks ending no later than the week ending prior to Friday, July 31, 2020,” according to the statement. “For all states except (New York), that is Saturday, July 25th. New York’s end date is Sunday, July 26th.
The expiration of these benefits could also mean gig workers, freelancers, independent contractors and small business owners — those who usually aren’t eligible for unemployment — will also lose this source of income. If you’re still eligible for the usual unemployment benefits, you’ll still continue to receive them.
Federal eviction protections
Included under the CARES Act is a temporary moratorium on evictions for most residents with subsidized apartments and renters of homes covered by Fannie Mae, FHA and Freddie Mac. This protected Americans who werefrom being evicted from their homes for 120 days.
These protections will end July 25 — and on that date, landlords can begin sending eviction notices. At that time, landlords are required to give the residents a 30-day notice to vacate before eviction. There’s concern that people who won’t be able to pay their rent and are evicted could contribute to a rise in the number of homeless families across the country.
Here’s more information about evictions and.
No more tax extensions for 2020
The original deadline to file your taxes was April 15, but due to coronavirus, it was. And while there was talk of a possible second extension, one was never passed. If you didn’t file your taxes or an extension by July 15 and you owe money, you’ll be charged interest, along with a $300 penalty. Note that it’s now too late to file a tax extension.
If you’re one of the millions of Americans trying to figure out what the next steps are, we’ve got more tips to help you. Here’s what the, and . Also, here’s the latest on .