Below are answers to the most common questions about what is in the plan. You can also refer to the IRS website, as your best source of information about payments.
Check the Status of Your Payment with the IRS
How much will you receive?
- The amount you will receive depends upon your yearly income.
- Single adults with Social Security earning $75,000 or less will get $1,200.
- Married couples with no children earning $150,000 or less will receive a total of $2,400.
- Head of household would get the full payment if they earned $112,500 or less.
- Families will receive an additional $500 per qualifying child age 16 or under.
- Above those income figures, the payment decreases until it stops altogether for single people earning $99,000 or married people who have no children and earn $198,000.
What year’s income should I be looking at?
2019. If you haven’t prepared a tax return yet, you can use your 2018 return.
Will I have to apply to receive a payment?
How will I receive the funds?
If the Internal Revenue Service (IRS) already has your bank account information from your 2019 or 2018 returns, it will transfer the money to you via direct deposit. If you don’t have
direct deposit, a check will be mailed to the address on file.
When will the payment arrive?
To check the status of your payment with the IRS, click here.
If you notice a pending deposit date in your Online Banking account, plan for the deposit to post on that date.
If you do not currently show a pending deposit, rest assured that it will show pending once it is sent by the IRS.
To check the status of your payment, use the “Get My Payment” tool from the IRS, which is expected to be ready by April 17. It will provide the status of your payment, including the date the payment is scheduled to be deposited into your bank
account or mailed to you.
How do I set up alerts to know when the payment is deposited into my account?
- Log into Online Banking
- Under the Security tab, choose Notifications
- Below Account Balance, click on ‘Add new account balance notification.’
- Select account from the drop-down
- Select ‘higher than’ and input relevant dollar amount
- Add notification description
- Choose how you would like to receive the alert
- Click Save
What if you haven’t filed tax returns recently?
If you don't typically file tax returns and haven’t set up direct deposit with the IRS, you can register through their online portal.
The IRS will use this information to confirm eligibility and send a stimulus payment. Using the tool to get your payment won’t result in any taxes being owed. Entering bank or financial account information will allow the IRS to deposit your
payment directly in your account. Otherwise, your payment will be mailed to you.
Is there anything I should watch out for?
Unfortunately, these stimulus checks created new opportunities for scammers. Please remain vigilant and aware of scammers posing as GTE Financial employees or federal representatives who
may ask for sensitive information. No one should contact you requesting personal information in order to process your stimulus payment. If you are eligible, you do not need to do anything or provide any additional information.