Where’s My Economic Impact Payment from the IRS?
In March, Congress passed and President Trump signed into law the CARES Act, a $2 trillion economic relief package to provide assistance to American consumers and businesses struggling as a result of the COVID-19 pandemic. A provision of the law includes sending government payments to eligible Americans. The Internal Revenue Service (IRS) has named these Economic Impact Payments.
The IRS will begin distributing these payments the week of April 13. Most taxpayers who filed tax returns in 2018 and 2019, and most seniors and retirees will get their payments automatically and will not need to take any action. Social Security beneficiaries who are not typically required to file tax returns will not need to file to receive a payment. Payments will be automatically deposited into their bank accounts.
IRS Tool – Get My Payment
The IRS has announced its new tool—Get My Payment—will be available by April 17. Get My Payment will provide people with the status of their Economic Impact Payments., including the date their payment is scheduled to be deposited into their bank account or mailed to them. Get My Payment will be available at https://www.irs.gov/coronavirus/economic-impact-payments.
An additional feature on Get My Payment will allow eligible people a chance to provide their bank account information so they can receive their payment more quickly rather than waiting for a paper check.
Check for your payment using Online and Mobile Banking
To check if an Economic Impact Payment has been deposited into your account, use our online and mobile banking services available 24/7. If you have not already, you can enroll quickly on our home page.
What if my bank account information or address has changed?
You may use the IRS Get My Payment tool to enter your new bank account information for direct deposit as long as the IRS has not sent your payment yet by paper check.
If your address changed after your last tax return filing, notify the post office. To change your address with the IRS, you may complete a Form 8822. For more information, visit https://www.irs.gov/taxtopics/tc157.
Want to learn more about Economic Impact Payments?
You can learn more about Economic Impact Payments. by visiting the IRS Economic Impact Payment Information Center at https://www.irs.gov/coronavirus/economic-impact-payment-information-center. The IRS provides guidance about the following:
- Who is eligible?
- Who is not eligible?
- How much is it worth?
- Do I need to take action?
- Payment recipients: watch for an IRS letter
- Avoid scams related to economic payments, COVID-19
Disclaimers and Disclosures: GNBank, N.A. does not provide, and is not responsible for the content provided by the Internal Revenue Service websites listed on this page. GNBank privacy policies do not apply to these linked websites. Consult the privacy disclosures on each site for further information.