Economic Impact Payments
Where’s my third stimulus check?
If you qualify you can visit the Get My Payment portal at IRS.gov to:
- Learn the status of your third stimulus payment (and your first & second, if you qualified).
- Find out whether it’s scheduled to be direct-deposited or mailed to you.
- Learn what to do if you did not receive an Economic Impact Payment for which you qualified.
How will I know when my stimulus payment has been deposited?
As always, you can use online banking or contact us directly to monitor your account balance and transactions as often as you wish.
Visit the Get My Payment site at IRS.gov to monitor the status of your payment.
Will I receive a third stimulus payment?
On March 11, 2021 President Joe Biden signed off on the $1.9 trillion American Rescue Plan Act. The payments will primarily be sent via direct deposit, just like the other two rounds.
If the IRS doesn’t have your direct deposit info, you may get a paper check or a pre-paid debit card in the mail in the coming weeks.
Who’s eligible for a third stimulus payment?
- Single tax filers with adjusted gross income up to $75,000 and head-of-household filers with adjusted gross income up to $112,500 will receive the full payment of $1,400, plus $1,400 for each eligible child.
- Married couples filing jointly with adjusted gross income up to $150,000 will receive the full payment of $2,800, plus $1,400 for each eligible child.
- For filers with greater incomes, the payment amount is reduced by 5% of the amount by which adjusted gross income exceeds the $75,000/$112,500/$150,000 thresholds.
- Social Security recipients and railroad retirees who are otherwise not required to file a tax return are also eligible and will not be required to file a return.
- Single filers with income exceeding $80,000, $120,000 for head-of-household filers and $160,000 for joint filers with no children are not eligible and will not receive payments.
- Additional eligibility rules apply. Visit the Economic Impact Payments page at IRS.gov for more information on eligibility.
How is my payment amount calculated?
If you filed federal income taxes in 2019 or 2020, no action is required. The IRS will calculate and automatically send the Economic Impact Payment to those who are eligible.
- If you are a senior citizen, Social Security recipient, veteran or retired railroad worker who is not otherwise required to file federal tax returns, the IRS will use the information on Form SSA-1099 or Form RRB-1099 to calculate and direct your payment.
- For additional questions, please visit the Economic Impact Payments page at IRS.gov.
When and how will I get my third stimulus payment?
Direct deposit payments are being made by the IRS first, with paper checks and prepaid cards to follow.
- If you’ve supplied direct deposit information to the IRS (either on your 2019 or 2020 tax return or in connection with the first or second stimulus), your Economic Impact Payment will be deposited directly into the bank account reflected on your tax return by mid-April, 2021.
- If you haven’t supplied direct deposit info to the IRS, a paper stimulus check or prepaid EIP card will be mailed to you.
Not sure if the IRS has your account information?
Visit the Get My Payment site at IRS.gov to find out. You can also check the status of your payment.
I haven’t filed my 2020 taxes yet. What should I do?
The IRS is relying exclusively on income and bank account information previously submitted via a 2019 tax return or in connection with the first round of Economic Impact Payments.The payments will be based on 2020 AGI if a taxpayer has already filed tax returns for last year. If not, they will be based on 2019 income.
If you haven’t provided that information, you will likely need to claim a Recovery Rebate Credit when you file your 2020 taxes.
What if I’m not required to file taxes?
If you haven’t filed your taxes for 2019 or 2020 and weren’t planning to, you can still receive a stimulus payment if you’re eligible.
- If you receive Social Security or Railroad Retirement benefits, you’ll receive your Economic Impact Payment automatically without providing further information. However, if you have eligible dependents and did not provide this information to the IRS in connection with the first stimulus payment, you will not receive the supplemental $1,400-per-child payment.
- If you’re not required to file 2019 or 2020 taxes for other reasons and have not provided information to the IRS in connection with the first stimulus, you won’t receive a stimulus payment even if you’re eligible.
- In order to collect unreceived stimulus payments for which you qualify (including the $1,400-per-child payment), you can claim a Recovery Rebate Credit when you file your taxes.
What if I receive a paper stimulus check?
If you receive an Economic Impact Payment in the form of a paper check through the mail, a fast and safe way to deposit your money is with mobile check deposit.
We’ve increased mobile deposit limits for many customers and removed the restriction on government checks to make it easier to deposit other checks, such as paychecks and Social Security payments, from home.
What if I don’t receive my stimulus payment?
If you file your taxes using an online tax-preparation service or software, it’s possible that your payment will be sent to a temporary bank account that has since been closed. Tax preparers customarily set up such so-called Refund Transfer accounts so they can deduct authorized fees before passing the balance along to the recipient and closing the account.
If your payment is sent to a closed account, the financial institution is required by law to “bounce” the funds back to the IRS. If this happens (or if you receive no payment or the wrong amount for other reasons), your only recourse may be to claim a Recovery Rebate Credit when you file your taxes.
McIntosh County Bank Card Benefits
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