Coronavirus Economic Impact Payments

The IRS and U.S. Treasury are now delivering a third round of payments to qualified individuals. Most people will get their payments automatically, as soon as March 13, 2021. 

360FCU wants to provide helpful information to you on the payments.

Q: Who is eligible for the second Economic Impact Payment?

A: The government determines who is eligible. Generally, U.S. citizens and resident aliens who are not eligible to be claimed as a dependent on someone else’s income tax return are eligible for this second payment. For more detailed information on who qualifies please visit the IRS website.

Q: When will I receive my payment?

A: 360FCU does not have information on when individual payments will be made. For the most up to date information you may check the status if your payment at IRS.gov/GetMyPayment.

Q: How will the IRS know where to send my payment? What if I changed bank accounts?

A: The IRS will use the data already in their systems to send the new payments. Taxpayers with direct deposit information on file will receive the payment that way. For those without current direct deposit information on file, they will receive the payment as a check or debit card in the mail.

Q: How can I deposit a paper check?

A: You can make a deposit at any 360FCU branch, using the 360FCU mobile app or making a deposit at any of our ITM/ATM’s.

Q: Where can I get more information?

A: For more information about Economic Impact Payments and the 2020 Recovery Rebate, key information will be posted on IRS.gov/eip. Later this week, you may check the status of your payment at IRS.gov/GetMyPayment. For other COVID-19-related tax relief, visit IRS.gov/Coronavirus.

360FCU does not have additional information on your payment or the timing of your payment. For the latest information please visit the IRS’s website.

Source: https://www.irs.gov/coronavirus/economic-impact-payments