Dear Readers: Those economic stimulus payments many of us received last year and into this year? Let's take a look:
1. The CARES Act (Corona-virus Aid, Relief and Economic Security) is an economic impetus program passed by Congress in March of 2020 that provided many Americans a cash payment (around $1,200 per individual).
This was designed as an offset to government-mandated stay-at-home orders and closures of businesses. The closures were put in place in an attempt to quell the COVID-19 virus. Relief to businesses and organizations was also provided.
2. There was a second payment of around $600 per individual as part of the Consolidated Appropriations Act, along with more stimulus dollars for businesses.
Do you have to repay these dollars? No. And you don't claim the payment as income on your tax return either. Also, the second payment was given free of encumbrances (the money cannot be garnished, etc.).
These acts are incredibly detailed and complex. Check with your tax preparer, bank officer or financial adviser for more information. — Heloise
A Lie Is Fine
Dear Heloise: I teach my daughter, who is away at college, that there are times when it is OK to lie. When a suspicious person asks her the following:
Are you traveling alone?
Are you out alone?
Are you headed home alone?
It's for sure OK to lie. — Richard K. in Ohio
King Features Syndicate