Economic Impact Payment Information
Economic Impact Payments
The Internal Revenue Service began distributing Economic Impact Payments in mid-April 2020. Most Americans will receive funds via direct deposit into their bank accounts on file. But for some Americans who require payment by paper check, funds could take up to 20 weeks to arrive, according to the Treasury Department.
For most Americans who filed 2018 or 2019 tax returns and most seniors and retirees no further action is required.
Here’s what you need to know:
• Eligibility: Click here to find out if you are eligible to receive a payment and to calculate how much you may receive.
• Payments: Funds will be automatically deposited into the bank account on file from the 2018 or 2019 tax year. If the account that is on file with the IRS has been closed, Centier Bank will deposit the funds into an active account on file under the accountholder’s name. If the funds were for couples filing jointly, Centier Bank will deposit the funds into an active joint account on file under both accountholders’ names. If there is not an active account held, funds will be returned to the IRS and they will redistribute in the coming weeks in another form of payment.
• Check status of your payment: The IRS has a website to check the status of your payment, what date and which bank account it will be posted: https://sa.www4.irs.gov/irfof-wmsp/notice
• Non-filers: If you did not file a tax return in 2018 or 2019, find out how you can apply to receive your stimulus check here.
For more information about the Economic Impact Payments, visit the Economic Impact Payment Information Center.