STIMULUS PAYMENT INFORMATION
We’ve received calls from members asking when their stimulus payment will be deposited to their account and how much they’ll receive. While we can’t answer either question, you can also check the status of your payment at https://www.irs.gov/coronavirus/get-my-payment. More information and clarifications continue to be issued so always check the IRS website for the most current news at https://www.irs.gov/newsroom/economic-impact-payments-what-you-need-to-know.
- You do not need to apply to receive a stimulus payment. Payment amount is based on adjusted gross income from your 2018/2019 tax return, whichever was last filed.
- If you do not typically file a tax return you may need to file a simple return to receive your payment. Those who receive Social Security payments will not need to file a tax return to receive a payment.
- Most adults will receive $1,200 ($2,400 for married couples) plus $500 for each dependent child up to the age of 16. Those with income over $75,000 may receive a smaller or no stimulus payment.
- If your 2018/2019 tax refund was automatically deposited to your checking or savings account, your stimulus payment will also be deposited there. For those who did not a have a tax refund automatically deposited to their account or whose account information has changed, the Treasury Department plans to develop a website in the coming weeks for that information to be entered or updated. If no account information is provided, a paper check will be mailed to the most recent address on file with the IRS.
- If your stimulus payment is automatically deposited to your account, you will receive a notice from the Treasury Department several weeks later that confirms the payment was made and providing contact information if there is a discrepancy.
If you’re not already using CU-Online home banking or our mobile app, this is a great time to enroll so you can check your account for the deposit. Go to ccuwausau.com and click “Enroll Now” or download the Cloverbelt CU Mobile Banking app and enroll. Have questions or need help with enrolling, give us a call at 715-842-5693.
You can also set up an alert in CU-Online home banking so you can be notified when your stimulus payment is deposited. Just select the account to which the deposit is to be made (your stimulus payment will be deposited to the same account to which your 2018/2019 tax refund was deposited), click on Alert Preferences on the right side of your screen and then follow the steps as indicated below in yellow.