ICYMI American Rescue Plan Seminar

In Case You Missed It

American Rescue Plan Workshop 

May 25, 2021

Questions & Answers

Families

Q: What is the American Rescue Plan?

A: The American Rescue Plan is a major economic stimulus package that will provide immediate relief for children and families. It was signed into law in March 2021.

Q: How will it help children and families?

A: This package includes several different forms of direct aid for parents and families that will make an immediate difference for those who are struggling. It extends key supports that have been helping families impacted by the crisis for the past year, like housing and nutrition assistance. The American Rescue Plan also includes long-awaited investments in child care and education that will finally help children get back in schools and parents get back to work.

Q: What can I expect to see as a result of the American Rescue Plan?

A: Millions of parents will receive a new per-child allowance - the expanded Child Tax Credit (CTC) - beginning this summer, which will arrive in the form of a monthly check to help families afford the everyday expenses of raising children.

Q: What is the Child Tax Credit?

A: The Child Tax Credit means that families will receive $3,600 per child under age 6 and $3,000 per child age 6 to 17, paid out in monthly installments beginning in July for one year.

Additional Resources for Families, Children & Seniors:

Dr. Macie Smith, www.dtconsultant.com, 1-803-814-6721 Gerontologist
Senior Resources, www.seniorresources.org, 1-803-252-7734 provide necessary services & care for seniors who cannot afford to pay for private services.
First Steps SC, https://enroll.free4ksc.org/, First Steps 4K offers funding to eligible students for high quality four-year-old kindergarten through SC's public Child Early Reading Development and Education program.
Head Start, SC-headstart.org, 1-864-327-4530 Head Start is a free program for young children from low-income families. Children who participate take part in fun activities which help develop educational and social skills. They also receive nutritious meals, health care, and play in a supervised setting.

Economic Impact Payments

Q. What were the Economic Impact Payments?

A. First Round (authorized by the CARES Act in March 2020):
• Up to $1,200 for individuals ($2,400 for a married couple) and $500 for each qualifying dependent under the age of 17.
Second Round (authorized by the Coronavirus Response and Relief Supplemental Appropriations Act of 2021 in December 2020):
• Up to $600 for individuals ($1,200 for a married couple) and $600 for each qualifying dependent under the age of 17.
Third Round (authorized by the American Rescue Plan of 2021 in March 2021):
• Up to $1,400 ($2,800 for a married couple) and $1,400 for each qualifying dependent of any age.
Using the calculations above, this means that an individual without dependents could receive up to $3,200, and an individual with one qualifying dependent could receive up to $5,700. A married couple with three qualifying dependents could receive up to $13,900.

Q. What if I didn't receive my EIP payments?

A. If you didn't get any payments or got less than the full amounts, you may qualify for the Recovery Rebate Credit and must file a 2020 tax return to claim the credit even if you don't normally file. Check with a tax professional to discuss your specific situation.

Q. Can people experiencing homelessness receive their EIP payments?

A. If you do not have a permanent mailing address, you could consider using the address of a trusted family member or friend or ask if you can use the address of a shelter, church, health center, transitional housing program, drop-in center, or other program where you stay or visit frequently. There are also options to have the EIP payments deposited on a pre-paid debit or credit card if someone does not have a bank account.

Q. Will the Economic Impact Payments affect my other benefits, such as Social Security, SNAP, or Housing Assistance?

A. No. Economic Impact Payments cannot be counted as income when determining if you or anyone else is eligible for benefits or assistance, or how much you or anyone else can receive, under any federal program or under any state or local program financed in whole or in part with federal funds. These programs also cannot count Economic Impact Payments as a resource for purposes of determining eligibility for a period of 12 months from receipt.

Q. Are incarcerated individuals eligible for Economic Impact Payments.

A. Yes. There were certain criteria that incarcerated individuals had to meet in order to qualify for the EIPs but they are eligible.

Small Business Resources

US Small Business Administration, www.sba.gov, 1-800-659-2955 The SBA is the only cabinet-level federal agency fully dedicated to small business and provides counseling, capital, and contracting expertise as the nation's only go-to resource and voice for small businesses.
SBA - SC Office, https://www.sba.gov/offices/district/sc/columbia, 803-765-5377 SC Office of the Small Business Adminstration
City of Columbia Office of Business Opportunities https://www.columbiasc.net/obo 803.545.3950 The Office of Business Opportunities (OBO) is committed to supporting initiatives that benefit small, minority, veteran, and women owned businesses located in, or that want to do business with, the City of Columbia. This is accomplished by providing creative financing, technical assistance and capacity building opportunities that contribute to the economic growth of all communities.

Contact Information for Show Participants

Kadenia Javis, Javis Tax Service, Javistax.com, (803) 419-1001, info@javistax.com
Antjuan Seawright, Blueprint Strategy, LLC, Blueprintstrategyllc.com
Melissa Lindler, City of Columbia - Office of Business Opportunities, https://www.columbiasc.net/obo, 803.545.3950, Melissa.Lindler@columbiasc.gov

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