April 15, 2020: Updates on Markets, Stimulus, and the Economy Happy Tax Day everyone...kind of. While this would normally be the deadline for filing income taxes, this year it has been extended to July 15, 2020. Most states have followed suit with similar extensions for tax filing and license/vehicle registrations. Below are more updates on what's happening this week: CARES Act Individual PaymentsWondering when your check is coming? The IRS has announced the first wave of stimulus payments will begin as soon as this week (but could take more than 20 weeks). If you received previous tax refunds or Social Security benefits via direct deposit, your payment will be deposited to the same bank account. Click HERE for updates from the IRS including tracking payments and updating your bank information for direct deposit. Note: Be on the lookout for scam artists trying to steal personal information and money. Remember, the IRS will not call, text you, email you, or contact you on social media asking for personal or bank account information. Also, watch out for emails with attachments or links claiming to have special information about economic payments. Contact us if you need assistance determining the legitimacy of any such communication. CARES Act for Business OwnersSole proprietors and self-employed individuals may now apply for Payroll Protection loans and other small business relief funding options via the SBA. Local banks are the points of contact for borrowers, so contact your lender immediately if you plan to apply. Economic ImpactThere's been a lot of economic movement lately as stocks have bounced back somewhat following some positive news of COVID-19 containment and bold policy response from the Federal Reserve. Click here for the most recent weekly market performance from our team at LPL Research. Statements and Investment PositioningIf you opened your account statement last week, it wasn't much fun. It's one thing to know the market is down but much more uncomfortable to actually see the impact on your account values. We've spoken to many of you over the past month but know that we're available to answer questions and talk through your investment strategy. Important DisclosuresWhile past performance is no guarantee of future results, we do view history as a helpful guide for future possibilities. We take comfort in the fact that the data sets are as positive as they are despite weathering such volatile periods as the Great Depression and the Financial Crisis. This material is for general information only and is not intended to provide specific advice or recommendations for any individual. There is no assurance that the views or strategies discussed are suitable for all investors or will yield positive outcomes. Investing involves risks including possible loss of principal. Any economic forecasts set forth may not develop as predicted and are subject to change. References to markets, asset classes, and sectors are generally regarding the corresponding market index. Indexes are unmanaged statistical composites and cannot be invested into directly. Index performance is not indicative of the performance of any investment and do not reflect fees, expenses, or sales charges. All performance referenced is historical and is no guarantee of future results.Securities and advisory services offered through LPL Financial (LPL), a registered investment advisor and broker-dealer, Member FINRA/SIPC BridgeQuest Wealth Strategies Career changes, retirement, aging parents, liquidity events—navigating life’s big transitions gets much easier with an experienced guide. The BridgeQuest team leads you in the right direction with independent asset management tailored to your goals. Your plan will include objective advice and personal attention every step of the way.