As a result of the recently passed CARES Act, some US Residents will receive an Economic Impact payment. The IRS are issuing these Economic Impact payments in waves. To learn when you could receive your economic impact payment from the IRS, please visit this IRS page: www.irs.gov/coronavirus/economic-impact-payments
Here are some commonly asked questions about the stimulus checks:
How much could I receive?
- Single adults earning up to $75,000 = $1,200 stimulus check
- Couples earning up to $150,000 = $2,400 stimulus check
- Additional $500 for each child under the age of 17
- Use this calculator to estimate how much you might receive
Income limits are based on the adjusted gross income from either your 2018 or 2019 tax returns. People with incomes over the limits may receive a smaller rebate. These are estimates and not final calculations.
How will I receive my funds?
- If you have your tax returns direct deposited, your stimulus check will be direct deposited into the same account that you provided for your tax return.
- If you’re an SSI recipient who does not file a tax return, the payment will be made to the account you’re using for your SSI direct deposit.
- Direct deposits are expected to start in April.
- If you have not provided a direct deposit account for tax refunds, a check will be mailed to you. Mailed checks are expected to start in May.
When you receive your stimulus funds, remember that you can use your Debit Card or an ATM machine to access the funds.
If you receive a check, you can drop it into any of our night deposits at our branches or send it remotely through your phone using Mobile Check Deposit.