Helping People and Small Businesses Understand the Latest Stimulus Relief Package

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Helping People and Small Businesses Understand the Latest Stimulus Relief Package

Intuit is dedicated to helping customers overcome their most pressing financial challenges and putting more money in peoples’ pockets as we continue to navigate the global pandemic. 

With the recent passage by congress of the Coronavirus Response and Relief Supplemental Appropriations Act, we are renewing our commitment to helping consumers and small businesses understand the financial options available to get the help they need. As details emerge about the new legislation, we will move quickly to assist consumers and small businesses in understanding what government relief they are eligible for and how to access the money they need as fast as possible. 

These relief funds come at a critical time for many. People continue to face uncertainty in the job market while they struggle to keep their families safe and their children in virtual school, all while juggling the demands of making ends meet. Small businesses, the engine of the global economy, continue to struggle to stay afloat and keep their people on payroll in an uncertain economy. As we did with the CARES Act in the spring of 2020, Intuit is planning to partner with the federal government and use our platform capabilities to help people access these vital resources during this challenging time and get more money in their pockets as quickly as possible.  

For small businesses, the new COVID-19 assistance package includes a new round of Paycheck Protection Program (PPP) funding. We are currently working on reviewing the legislation and updating our streamlined online application process. Once it is ready, eligible QuickBooks customers will be invited to  apply for a PPP loan within QuickBooks Capital. We’re also working on building our loan forgiveness application experience based on the new legislation. We will communicate additional details in the new year about both PPP loan applications and loan forgiveness. You can learn more about frequently asked questions here.

For consumers, the bill will provide relief through multiple measures and will expand many of the provisions already put into place under the CARES Act, including a second round of direct stimulus payments to individuals and families. At this time, individuals don’t need to take any action to receive stimulus payments as long as they filed a 2018 or 2019 tax return or received a payment in the first round. Direct payments are expected to go out as soon as possible. For more information about stimulus payments, please go to our TurboTax blog. 

No matter what happens over the next several months as we continue to live in these dynamic times, Intuit will be here to support our customers around the world to overcome their financial challenges and prosper.  

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