Useful information about the $1.9 trillion law that went into effect on March 11, 2021.
Now that the American Rescue Plan bill has been signed into law, the U.S. Treasury and Internal Revenue Service (IRS) are in the process of distributing a third round of Economic Impact Payments (also known as “stimulus payments”) to eligible Americans. (“Eligible Americans” is generally defined as U.S. citizens or U.S. resident aliens).
Payments are expected to begin being processed in March. Some people who received payments previously may find that eligibility has changed and they may not qualify for payments as part of the most recent round of stimulus. If you qualify and your banking and/or mailing information is up-to-date with the IRS, any payment that you qualify for will be sent directly to you.
As with the first two rounds of stimulus payments, these payments are also being made directly by the IRS, and we cannot advise on your eligibility to receive a payment, timing for any payment, the amount of payment, or any other details beyond what information is available directly from the IRS.
Please note: If your BFSFCU account and routing information is on file with the IRS as part of your 2018 or 2019 tax return for payments or refunds, you may receive your payment electronically. Please log in to Digital Banking and review recent activity to check for a deposit.
Remember to Watch Out for Scams
Over time, more and more scams have surfaced that prey upon people expecting stimulus payments. It’s more important than ever that you keep you information secure. Please keep the following in mind:
- The federal government will never ask you for personal or financial information online or via email.
- You will never be asked to verify your personal or banking information over the phone or via text.
The only website you should visit to get information about your personal potential stimulus payment is www.irs.gov.