As I prepared my coffee and turned on the TV to start the day making some breakfast for the kids before homeschooling, I listened to the breaking news about the U.S. Congress finally passing the emergency aid package. A jawdropping moment when I learned that the CARES Act expands unemployment insurance for gig workers, independent contractors, and self-employed individuals. I couldn’t believe it.
Gig workers, freelancers, self-employed are eligible
Finally, the stimulus bill expands unemployment protections to gig workers, freelancers, and self-employed individuals, who typically don’t qualify for unemployment benefits. The legal jargon is insufferable, but I check several newspapers and financial magazines trying to put it in simple terms, before taking any actions please consult your CPA and local authorities for legal and tax information.
What does it include?
- Establishes a temporary Pandemic Unemployment Assistance program through December 31, 2020, providing unemployment benefits to self-employed, and independent contractors who are unable to work due to the coronavirus crisis.
- Provides an additional $600 per week payment of unemployment insurance or Pandemic Unemployment Assistance for up to four months.
- Provides an additional 13 weeks of unemployment benefits through December 31, 2020, to help those who remain unemployed after weeks of state unemployment benefits are no longer available.
What to do next?
Check your local government for information, just do a quick search typing “how to file for unemployment insurance” and you’ll get the answer, make sure it is an official site.
Prepare a large cup of tea, breathe and embrace patience because you’ll need it to file your unemployment online, with more than 3.3 million seeking for benefits as we speak, it is going to take a while.