Resources for Individuals

Income for American Families

Direct Payments

  • Most American adults get $1,200. The payment is increased by $500 for every qualifying child age 16 or under.

    • This amount is reduced for higher-income earners, starting at $75,000 for individuals, $112,500 for the head of household, and $150,000 for married couples.
    • Individuals who earn more than $99,000 or $198,000 for married couples are not eligible for the payment.
  • The IRS has stated that those who filed their taxes electronically and provided direct deposit information will get their money the fastest.
  • Treasury has developed a web-based portal for individuals to provide their banking information to the IRS online - When you fill out the form, please use the address you use on your tax filings. If you are a non-filer and have a P.O. box, use that address rather than your street address. 

  • Social Security beneficiaries will still receive rebates even if they have not filed tax returns for 2018 or 2019; their rebates are sent to the bank account associated with receiving benefits.
  • To visit the Economic Impact Payment Information Center, visit here
  • For Frequently Asked Questions on how to Get Your Payment, visit here

    Additional Resources: 

    IRS Operations During COVID-19

    Unemployment Assistance

    The CARES Act provided for expanded unemployment insurance for everyone, including gig workers, the self-employed, and non-profit employees. Under the bill, unemployed workers will be paid an additional $600 per week on top of what they would normally receive, through July 31. The package also provides an additional 13 weeks of unemployment assistance for those who remain unemployed after state funds are no longer available, providing nearly 10 months of financial assistance in total, through Dec. 31, 2020.

    On Saturday, August 8th, President Trump signed a memorandum that reinstates the option for states to continue to provide increased unemployment aid but will reduce these weekly payments from $600 to $400.

    To qualify for the expanded Pandemic Unemployment Insurance, workers must meet these three qualifications:

      • Ineligible for any other state or federal unemployment benefits.
      • Unemployed, partially unemployed, or cannot work due to the COVID-19 public health emergency, and
      • Cannot telework or receive paid leave.
    • This includes workers like those who are self-employed, independent contractors, gig economy workers, and those who do not have sufficient work history to qualify for regular benefits.

    • Federal law permits significant flexibility for states to amend their laws to provide unemployment insurance benefits in multiple scenarios related to COVID-19. For example, federal law allows states to pay benefits where:
      • An employer temporarily ceases operations due to COVID-19, preventing employees from coming to work;
      • An individual is quarantined with the expectation of returning to work after the quarantine is over; and
      • An individual leaves employment due to a risk of exposure or infection or to care for a family member.

    Additional Resources: 

    How Do I File for Unemployment Insurance?
    Minnesota Unemployment Insurance (UI) Program
    US Department of Labor Resources
    COVID-19 and Your Financial Health

    Housing Assistance

    *A partnership between the Consumer Financial Protection Bureau, the United States Department of Housing and Urban Development, and the Federal Housing Finance Agency has launched a web page to assist individuals in navigating mortgage relief and protections for renters implemented by the CARES Act. Visit the website to learn more:


    Those with mortgages backed by federal loans can request six months of mortgage forbearance. Homeowners should be advised that a mortgage forbearance is not a forgiveness of debt, and that they will have to work out a loan modification or repayment plan with their servicer at the end of the forbearance period to resume making payments, including all missed payments. Homeowners are encouraged to ask their servicers about these details and seek out housing counseling assistance as appropriate. You can look up a HUD-approved housing counseling agency here.

      • Although homeowners with mortgages that are not federally backed are not technically covered under the CARES Act, some lenders are voluntarily aligning the relief they are providing with the relief provided for federally backed mortgages, so it is still possible that homeowners without federally backed mortgages will have access to similar relief. Reaching out to your servicer is the best way to find out what relief is available to you.
    Rental Property Owners: 

    Rental property owners with federally backed mortgages who may be having difficulty making mortgage payments due to nonpayment of rent will have access to mortgage forbearance.

    • Single-family (1-4 units) rental property owners will have access to the same relief as single-family homeowners described above.

    • Certain multifamily (5 or more units) rental property owners with federally backed loans will have access to forbearance for a period of 30 days, and that period can be extended for up to 2 additional 30-day periods upon request, with the option to discontinue the forbearance at any point.

    • Some lenders may voluntarily provide forbearance or other relief even if they are not federally backed loans.

    • Rental property owners should reach out to their mortgage servicers if they need assistance, regardless of whether their loan is federally backed.

    Additional Resources:

    U.S. Department of Housing and Urban Development
    CARES Act Mortgage Forbearance: What You Need to Know
    Fannie Mae COVID-19 Relief Options
    Freddie Mac COVID–19 Response
    COVID-19 and Minnesota Housing
    Minnesota Department of Human Services

    Additional Consumer Concerns

    Credit Scores and Credit Reports

    • If you are approved for a forbearance, a payment delay, or other payment arrangement with your creditor or servicer, and you are current on your accounts, then the creditor or servicer will continue to report you to the credit rating agencies (or CRAs) as current or up-to-date. In this case, your credit report and score would not be negatively impacted by these non- or delayed payments during the covered period of the arrangement.

    • Unfortunately, if you were already reported to be behind on payments prior to the payment arrangement, the creditor or servicer can continue to report you as late to the CRAs, meaning continued non-payments may be treated negatively on your credit report and score.

    • The CARES Act suspends negative credit reporting for eligible federal student loan payments only, but not for any other loan obligation.

      • However, if accommodations are made by creditors to current accounts (such as forbearance or partial payments), those accounts will continue to remain current.

      • Consumer and Investor Fraud: Consumer Financial Protection Bureau through their complaints webpage, available here. You can also contact the CFPB via telephone by calling (855) 411-2372. Additionally, you can file a complaint with the Federal Trade Commission (FTC), with information here, and a complaints page here. You can also file a consumer complaint with the FTC by calling 1-877-382-4357.

    Additional Resources:

    Protecting your finances during the Coronavirus Pandemic
    Federal Trade Commission: Consumer Information


    COVID-19 Related Distributions: The CARES Act has created the ability for individuals to withdraw up to $100,000 from retirement accounts without having to pay a 10% penalty, if they are under age 59½, as long as the funds are repaid to the account within three years.

    To qualify for this relief you need to fall into one of two categories.

    • You, your spouse or a dependent is diagnosed with COVID-19.

    • You have suffered financial consequences as a result of the pandemic. These might include reduced income from being quarantined or furloughed, having your hours reduced, being unable to work due to childcare issues or other issues beyond your control arising out of this situation.

    Not all retirement plans will allow these COVID-19 withdrawals, so check with your plan administrator in the case of an employer-sponsored retirement plan like a 401(k) to see if your plan will be offering this option.

    Coronavirus distributions are available throughout 2020. The CARES Act also retroactively waived the 10-percent early withdrawal tax penalty for coronavirus-related distributions made on or after January 1, 2020 and before December 31, 2020.

    The CARES Act suspends required minimum distributions (RMDs) from IRAs, 401(k)s (at age 72), 403(b)s and other retirement plans for 2020.

    Finally, the CARES Act grants the Department of Labor authority to give health, retirement, and disability plans additional time to comply with deadlines, such as COBRA continuation coverage, special enrollment, claims for benefits, appeals of denied claims, and external review of certain claims.

    Additional Resources:

    Minnesota State Retirement System – What You Should Know
    Minnesota Board on Aging
    IRS - Coronavirus Tax Relief
    Important Contacts