April 15, 2020
With state and national stay-at-home orders in place, many of our local shops, restaurants and businesses are temporarily closed or may have been forced to lay off employees during the coronavirus pandemic.
If your job has been affected by the coronavirus pandemic, there are some options that may benefit you during this time of uncertainty.
Unemployment
If you have lost your job or were furloughed because of the coronavirus, you can file for unemployment.
Due to the high volume of applicants, the current guidance is to try to apply during non-peak hours – after 4:30pm. But, after experiencing job loss, we recommend filing for unemployment right away to ensure you get assistance as soon as possible.
You can make an unemployment claim online or over the phone. Visit the Tennessee unemployment site here. https://www.tn.gov/workforce/unemployment/apply-for-benefits-redirect-2/online-application.html
The Cares Act
The Cares Act provides emergency money that allows for another $600 a week in unemployment payments, in addition to regular weekly payments, for up to six months for those who have filed unemployment. This benefit will be paid through July 31.
Stimulus Checks
Additionally, the Cares Act will provide a one-time stimulus check to qualifying adults. The amount of that check will be based on your gross income from your most recent federal tax filing.
If you qualify for the stimulus check, the federal government will automatically send your check to you via direct deposit or a check in the mail. Those check are expected be sent beginning mid-April.
Paying Bills
We know the coronavirus pandemic is causing additional financial hardships on so many people – with or without the extra help of unemployment and federal assistance.
An additional step that my be helpful for our friends and clients, is to see if you can get some help with your bills by contacting those companies – rent, utilities, credit cards – and asking what, if any, assistance they are providing during the pandemic. Be sure to get any agreements in writing.
Harlan and Quillen
As always, we are open and working remotely to help our community navigate this difficult time. If you have questions about what financial options are available to you or how to protect your financial future, please don’t hesitate to call our office at 931-330-6029 or book a free consultation online.
We are working remotely but are open our regular business hours to serve our neighbors.
