Due to the COVID-19 (Coronavirus) pandemic, the federal government is issuing Economic Impact Payments (EIP) of up to $1,200 per qualifying individuals. Many people are calling them “stimulus checks” or “stimulus payments.”
Here are some questions you might have about EIP, and some answers.
Q: Is the Credit Union issuing stimulus payments?
A: No. The payments are coming directly from the federal government. Because of that, unfortunately, we cannot tell you if you are eligible for the EIP. But you can visit “Get My Payment“* on the IRS website to find out if you are eligible.
Q: Can you tell me when my payment will get here?
A: We apologize that we can’t tell you when you’ll get your payment. We simply don’t know. However, you can always check on the status of your payment at “Get My Payment“* on the IRS website.
Q: Will I get a paper check or a Direct Deposit?
A: That depends. If you get your income tax refunds via Direct Deposit, your EIP will be direct-deposited into that same account. If you usually get a check, your EIP will likely arrive that way as well. If you owed taxes this year, you’ll need to supply your bank account information to the IRS using the “Get My Payment“* page on the IRS website.
Q: I'm on Social Security/Disability/Railroad Retirement benefits, so I don't have to file tax returns. How will I get my payment?
A: If you receive Social Security, Disability, or Railroad Retirement benefits, your EIP will most likely be sent the same way you receive those benefits. According to the IRS website*, you should receive your EIP no later than early May.
Q: I've lost my job as a result of the pandemic and I've heard that there's extra unemployment money available. How can I get it?
A: If you are eligible for unemployment, there is a $600 federal supplement to state unemployment benefits available. Learn more at the Department of Labor’s website.
Q: Someone called me saying they were from the IRS and that they could help me get my stimulus payment faster if I sent them some money directly. Should I do it?
A: No. You DO NOT have to send in any payments to receive your EIP. Don’t fall for scammers who might call or email you pretending to be the IRS. Visit our Fraud Protection page for more information on EIP scams.
We’ve gathered this information for our member family to help answer some of your questions about your upcoming EIP (stimulus) payment. Unfortunately, we can’t be more specific about your particular situation. But we do encourage you to visit “Get My Payment“* on the IRS website to get more information about when you’ll receive your EIP.