Coronavirus Relief Package
The Federal Government has agreed to a second Coronavirus relief package. Included in this package is a second round of stimulus checks. These are a one-time payment of up to $600 per eligible person and $600 per child under the age of 17.
The amount is based on your 2019 tax filings. If your 2020 income would qualify you for a larger benefit than your 2019 tax filings, the government will pay you the difference when you file your taxes for 2020.
For more information, please visit the Coronavirus Tax Relief and Economic Impact Payments area of the IRS website.
How and when can I expect the payments?
We understand you may have questions concerning the delivery process and timing of the 2nd round of economic impact payments.
While the government will be sending out payments over the coming weeks, we expect the first files to come in with a posting date of 1/4/21. According to the relief bill, all payments should be sent by mid-January.
Your stimulus check will be paid using the method you used to receive a refund check or pay your taxes. If you received a refund via Direct Deposit, your stimulus check will be paid the same way. If you received a paper check, you’ll receive a paper stimulus check.
If you receive Social Security and don’t file a tax return, your check will be based on information provided by the Social Security Administration.
How do I know if my stimulus direct deposit has been completed?
As the direct deposit files come in, they will display as pending on your account until the date the originator (in this case, the Federal Government) has set for release of funds. You can check for these pending deposits (and completed deposits) via online and mobile banking 24/7.
Watch Out for Stimulus Check Scams
Be suspicious of text messages, phone calls, or emails from those claiming to be the IRS. The IRS will not text, email, or call you about your stimulus check.