What to Expect If You Receive an Economic Impact Payment

Apr, 22, 2020
What to expect if you receive an Economic Impact Payment

 

 

Our priority remains helping our clients and community in any way we can. The Coronavirus Aid, Relief and Economic Security Act (CARES Act) is in effect and economic impact payments are being issued to eligible recipients. This is what you need to know:

  • If you filed taxes for 2018 or 2019 and received a refund, the funds will be directly deposited to the bank account on file at the IRS.
  • If you did not receive a tax refund for 2018 or 2019, your funds will arrive as a paper check in the mail later this month. The check will be sent to the address on file at the IRS.
  • To check eligibility and status, please visit www.irs.gov

Protect yourself from potential fraud with these guidelines:

  • Do not respond to any unsolicited requests for personal or financial information. The IRS will never contact you through phone calls, emails or text.
  • NEVER give out direct deposit or any other account information unless you are the one initiating the contact
  • Do not visit any website claiming to be a portal for stimulus checks; www.irs.gov is the only official site for economic impact payments.
  • Be suspicious of any pitches referring to a “stimulus check.” The official term is “economic impact payment.”

We value the trust you place in American National Bank. If you have any questions or concerns, please contact us and we’ll be happy to help.

 

Economic Impact Payment Information Center

CARES Act