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IRS Tells College Students to Claim Money from Covid-19 Stimulus
Posted
December 22, 2020
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5:54Now PlayingThe $900 billion in pandemic relief that passed the House and Senate late Monday is aimed squarely at shoring up the U.S. economic recovery into the early spring as battered industries and workers face months of continuing struggle.
The funds were combined with $1.4 trillion to fund regular government operations for the rest of the fiscal year, in massive legislation that runs 5,593 pages. It includes other tax, energy and national-security provisions that lawmakers agreed to pass before the end of the year.
The pandemic relief package includes help for small businesses and the jobless along with direct payments to most Americans. It also provides funding for vaccine distribution, food assistance, tax breaks and money for education and child care.
The provisions aimed at the fallout from the coronavirus represent the second-largest economic rescue package in American history, behind the $1.8 trillion virus relief package that was signed into law just nine months ago. It surpasses the $787 billion stimulus passed in response to the financial crisis in 2009.
Together with the omnibus spending bill, the total package is worth more than $2.3 trillion. The legislation also included a number of tax benefits, some unrelated to the Covid-19 crisis.
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