Agribusiness
Economic Impact Payments, How Are They Going to Work? (or how much will I receive?)
Publication Date
Spring 4-3-2020
Publication Number
LGP 1041
Summary
As part of the $2 trillion economic stimulus package, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was enacted and became law March 27, 2020.1 As a result, many individuals and families are eligible to receive an “Economic Impact Payment” (EIP). In reality, the payments are a tax credit/advanced tax refund provided to the taxpayer for the 2020 year. These payments will be received in the form of a refund of income taxes.
Publication Type
Short Communication
Target Audiences
Small Business, Farms, Individuals
Recommended Citation
Kantrovich AJ, Mickey S, Smith N, Richards S. Economic Impact Payments, How Are They Going to Work? (or how much will I receive?). Clemson (SC): Clemson Cooperative Extension, Land-Grant Press by Clemson Extension; 2020. LGP 1041. http://lgpress.clemson.edu/publication/economic-impact-payments-how-are-they-going-to-work-or-how-much-will-i-receive/.