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Information about Economic Stimulus Payments

04/08/2020

We know many of our members are anticipating their Economic Stimulus Payments, and to help make sure the process is smooth for everyone involved we would like to share some reminders.

 

These payments will be coming directly from the IRS, either in the form of direct deposit or check, and will be using the information that you had provided to them on your 2018 or 2019 Tax Returns. If you had previously received your tax refund via direct deposit that is how you will receive your payment. Please keep in mind we are only receiving these funds as they are presented to us from IRS. We do not have the ability to process deposits to closed accounts and are required to return the payment to IRS. 

 

For security reasons, the IRS plans to mail a letter about the economic impact payment to the taxpayer’s last known address within 15 days after the payment is paid. The letter will provide information on how the payment was made and how to report any failure to receive the payment. If a taxpayer is unsure they’re receiving a legitimate letter, the IRS urges taxpayers to visit IRS.gov first to protect against scam artists.

 

To help reduce the spread of misinformation surrounding the Economic Stimulus Payments and confirm your eligibility, we encourage our members to visit the IRS website for information about this program.

 

Your financial wellbeing is always our top priority, and now more than ever we are doing our best to help our members navigate these difficult times with helpful information.

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