Do you have questions about your new stimulus payment?
Millions of Americans will be receiving another stimulus check from the federal government as part of the 2021 American Rescue Plan to help with economic difficulties caused by the COVID-19 pandemic. We know you might have questions, and we are ready to help.
Who will receive a stimulus payment?
- Individuals earning $75,000 or less will receive a new payment of $1,400, as will heads of households earning up to $112,500. Couples earning $150,000 or less will get $2,800. Payments to those earning more than those amounts will decrease and cut off completely for individuals earning more than $80,000, couples earning more than $160,000, and single parents making more than $120,000. Qualifying parents of children will receive an extra $1,400 per child. That means a married couple with two dependent children may receive $5,600. Also, for this round, dependents now include 17-year-olds, as well as college students, older adults and children of all ages with certain disabilities who are claimed on tax returns.
- The payments will be based on information from a taxpayer’s 2019 return, or their 2020 return if it has already been filed.
How will payments be received?
- A) Direct Deposit – If they have the information on file from your tax return, the IRS will directly deposit the money into your bank account.
- B) Debit Card – Some people will receive a preloaded debit card in the mail, which will then need to be activated before use.
- C) Paper Check – Some will receive a paper check in the mail.
How will I know when the payment has posted to my account?
- We recommend that you set up an account alert through online banking to tell you when deposits post to your account. You can learn how to set up alerts through our Notifi® product by clicking here
Here to Help
- We know the stimulus payments are very important, and we're here to help you in any way we can.
More Questions? See the IRS website Click Here