Here’s everything you need to know.
Landlords, nursing homes can’t seize your check
The CARES Act from March prevents a landlord or care facility from demanding you hand over your check to meet a payment. If someone pressures you or threatens you with eviction, make sure you know your rights in regards to stimulus checks and to the eviction moratorium that lasts on all properties through the end of the 2020.
The IRS won’t claim it for back taxes
Stimulus checks are protected from taxation. You won’t be taxed on your stimulus money, and the IRS will not garnish it from you to pay for taxes that you owe. If you want to use the money that way, it is, of course, up to you.
If you owe a car payment, your stimulus money won’t be taken
Likewise, people who are worried about car repossession if they can’t make a payment are in most cases not obligated to hand over any stimulus money, unless it falls into an exception below. Here’s what we know about missed car payments during the coronavirus pandemic.