3 new tax credits offered to businesses impacted by coronavirus pandemic
The employee retention credit is designed to encourage businesses to keep employees on their payroll, the IRS says.
Nearly 3.2 million more workers seek jobless aid
Roughly 33.5 million people have now filed for jobless aid in the seven weeks since the coronavirus began forcing millions of companies to close their doors and slash their workforces.
Don’t have a stimulus check? Here’s why that might be and what to do about it
The federal government began issuing coronavirus relief stimulus payments to individuals and families weeks ago but so far millions still have not received checks or direct deposits. Here are several possible explanations for why that could be.
J.Crew files for Chap. 11 bankruptcy as pandemic smothers retail
The owner of J.Crew is filing for Chapter 11 bankruptcy, two months after the first person in New York tested positive for COVID-19.
Andrew Yang calls for $2,000 a month for Americans during pandemic
“The first thing we need to do is put money in people’s hands so we can weather this crisis.”
US jobless claims soar past 30 million as 3.8 million more workers seek aid
More than 3.8 million laid-off workers applied for unemployment benefits last week as the U.S. economy slid further into a crisis that is becoming the most devastating since the 1930s.
Half of working-age Americans might not have a paycheck in May as layoffs surge
Fewer than half of working-age Americans could earn a paycheck in May as the coronavirus pandemic triggers millions of job losses.
Stocks wrap best month since 1987 as coronavirus recovery continues
The S&P and the Dow Jones Industrial Average wrapped the best month since 1987 despite sliding on Thursday as total job losses related to the coronavirus shutdown topped 30 million.
Americans’ retirement accounts dropped during coronavirus — here’s how much the average account has now
Average IRA balance dropped 14% from last quarter.
Indiana sees 57,000 more seek jobless aid amid coronavirus cuts
Federal statistics released Thursday show Indiana has had nearly 570,000 people seek jobless aid over the past six weeks
Smallest businesses get a few hours at head of loan line
Smaller businesses that need coronavirus relief will get to move to the front of the line come Wednesday.
US economy shrank at 4.8% rate last quarter as coronavirus struck
The U.S. economy shrank at a 4.8% annual rate last quarter as the coronavirus pandemic shut down much of the country and began triggering a recession that will end the longest expansion on record.
Lawsuit: US citizens with immigrant spouses should get help
The Mexican American Legal Defense and Educational Fund has sued the federal government over its denial of coronavirus relief payments to U.S. citizens who are married to immigrants without social security numbers.
Oil price goes negative as demand collapses; stocks dip
The price for oil plummeted to negative $3.70 per barrel, as of 2:15 p.m. Eastern time.
Still no stimulus check in your bank account? Here's why it may be delayed
Social Security and Supplemental Security Income recipients are expected to receive the payments automatically soon, IRS said
Trump gives governors 3-phase plan to reopen economy
“We’re starting our life again,” Trump said during his daily press briefing.
Illinois jobless claims down 30%, 654,000 filed since March
Another 141,049 people in Illinois filed for unemployment last week, the third of an unprecedented period of jobless claims, although the number represented a 30% drop from the previous record-setting week.
Small business loan program runs out of money, no longer accepting applications
A popular small business relief program ran out of funds on Thursday morning, as billions of dollars in additional coronavirus aid remain stuck in congressional limbo.
Evidence of virus' effect on US economy grows more ominous
The economic picture will likely worsen in the coming weeks and months.
Proposed plan would send Americans $2,000 a month until employment returns to pre-coronavirus levels
The Emergency Money for the People Act would give at least $2,000 a month to every American age 16 or older and making less than $130,000 a year.