Updated February 3, 2021
Intuit is dedicated to helping customers overcome their most pressing financial challenges and putting more money in peoples’ pockets as we continue to navigate the global pandemic.
With the recent passage of the Coronavirus Response and Relief Supplemental Appropriations Act, we are renewing our commitment to helping consumers and small businesses understand the financial options available to get the help they need. We are acting quickly to assist consumers and small businesses in understanding what government relief they are eligible for and how to access the money they need as fast as possible. For consumers, the law will provide relief through multiple measures and will expand many of the provisions already put into place under the CARES Act, including a second round of direct stimulus payments to individuals and families.
Intuit Aid Assist:
Intuit has updated Intuit Aid Assist (IAA), a free website with interactive tools to help eligible small business owners and the self-employed assess their potential eligibility for federal relief and related tax credits from the Coronavirus Response and Relief Supplemental Appropriations Act. IAA reduces the complex legislation into an easy-to-understand online interview to help assess eligibility and delivers a personalized recommendation.
Intuit Aid Assist includes:
PPP Eligibility Estimator to help users determine potential eligibility for the Paycheck Protection Program
PPP Loan Amount Estimator to help users calculate the maximum amount of PPP funding they may be eligible for
PPP Loan Forgiveness Estimator to help users determine what portion of their PPP loan may be eligible to be forgiven.
2020 & 2021 Tax Credit Estimators to help users navigate updated changes to tax credits included in the Coronavirus Relief Act
Intuit will update these IAA tools in the coming weeks with additional information to help small businesses and the self-employed understand what they may be eligible to receive through federal relief programs.
If you are a small business owner or self-employed, click here to learn more about the U.S. government aid and relief programs for which you may be eligible.
Paycheck Protection Program:
For small businesses, the new COVID-19 assistance package includes a new round of Paycheck Protection Program (PPP) funding. Eligible QuickBooks customers can quickly apply for a second PPP loan within QuickBooks Capital’s automated PPP application experience by leveraging their business data that’s already on the QuickBooks platform. QuickBooks Capital is now accepting second PPP loan applications from certain eligible QuickBooks customers up to $150,000. We have also partnered with SBA-approved lender Cross River Bank to help additional eligible customers facilitate PPP applications directly through Cross River Banks platform.
Understand the step-by-step application process here or learn more about the Paycheck Protection Program here.
For more information about stimulus payments, please go to our TurboTax blog.
These relief funds come at a critical time for many. People continue to face uncertainty in the job market while they struggle to keep their families safe and their children in virtual school, all while juggling the demands of making ends meet. Small businesses, the engine of the global economy, continue to struggle to stay afloat and keep their people on payroll in an uncertain economy. As we did with the CARES Act in the spring of 2020, Intuit is planning to partner with the federal government and use our platform capabilities to help people access these vital resources during this challenging time and get more money in their pockets as quickly as possible.
The post Helping People and Small Businesses Understand the Latest Stimulus Relief Package appeared first on Intuit®: Official Blog.