Part of the CARES Act, Economic Impact Payments are intended to provide relief to American households during the COVID-19 crisis. Individuals and households will begin receiving payments as early as April 15th. Depending on your 2018 or 2019 income tax return, payments will be made by direct deposit or by check.
Why isn’t it showing up in my account?
Getting your stimulus money in your hands is a top priority for us. Unfortunately, there will be some people who the IRS won’t be making payments to immediately. There could be several reasons why the Economic Impact Payment hasn’t appeared in your account so here are a few that are common:
• Payments are being made in rounds, so your payment may be in a subsequent round; like if you are a recipient of Social Security; you have not filed an Income Tax Return in 2018 or 2019; you did file Income Tax Returns in 2018 and 2019 but had to pay in instead of getting a refund or you have not provided your direct deposit information to the IRS, to name a few.
If any of these scenarios below apply to you, the automatic deposit must be sent back to the IRS:
• The Checking or Savings Account you used for direct deposit when you last filed your Income Tax Return is now closed.
• You filed a joint Income Tax Return and a joint Checking or Savings Account no longer exists.
• You have closed the original Checking or Savings Account you used for direct deposit when you last filed your Income Tax Return, even if you opened a new account at the same Credit Union
For more information on what you should do to receive your payment visit: https://www.irs.gov/coronavirus/economic-impact-payments
The link above will lead you to the IRS’s ‘Economic Impact Payments’ web page. Because the circumstances are ever-changing, the IRS is still in development of the components of its website dedicated to payments. Click on the ‘Get My Payment’ button to check on the status of your payment. Also, our advice is to check back often, as they will be updating the site as needs arise.
Learn more about checking your balances with Online Banking or County MoGO Mobile Banking App.
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