April 2, 2020 / Kelly Anne Smith, Forbes Staff
The harsh economic consequences of the COVID-19 pandemic and the widespread shutdowns needed to contain it are starting to set in.
Millions have filed for unemployment and millions more will. In an effort to keep financially distressed Americans afloat, Congress has responded with a $2 trillion stimulus package, known as the Coronavirus Aid, Relief and Economy Security (CARES) Act.
One of the most widely anticipated provisions of the stimulus package: payments to individuals that will begin showing up in their bank accounts within the next few weeks. (Those who don’t have a bank account on file with the Internal Revenue Service will likely have to wait a little longer to be mailed paper checks.)
Here are five things to know about the stimulus payments: