Information About Your Economic Impact Payments
The Federal Government is expected to send an unprecedented 150 million payments to eligible Americans over the next few months, and the banking industry is working closely with the Treasury Department to help eligible Americans receive those payments quickly, securely and safely during this challenging time.
These payments for millions of Americans will start rolling out in the coming week.
The money will appear automatically in your bank account if the IRS has your account information on file from previous years’ tax returns. If the IRS doesn’t already have your account information, or if you didn’t file taxes in 2018 or 2019, you can submit your information on this website.
When Will I Receive My Payment
The IRS will send about 60 million payments through the direct deposit system starting April 15th. The IRS has direct deposit information for these individuals from their 2018 or 2019 tax returns. This will include SSA beneficiaries who filed federal tax returns that included direct deposit information.
Shortly (approximately 10 days) after the first round of payments are made in mid-April, the IRS plans to make a second run of payments. These payments will be made to SS beneficiaries who did not file tax returns in 2018 or 2019 and receive their Social Security benefits via direct deposit. (It is estimated that nearly 99 percent of SS beneficiaries who do not file a return receive their SS benefits through direct deposit.)
About 3 weeks after the first round of payments are made (the week of May 4th), the IRS will begin mailing paper checks to individuals.
The paper checks will be issued at a rate of about 5 million per week, which could take up to 20 weeks to get all the checks out.
The checks will be issued in reverse “adjusted gross income” order—starting with people with the lowest income first.
How Can I Check on My Payment
Due to increased call volume at Phenix-GIrard, wait times may be extended if you call the Bank to check if your Economic Impact Payment has been deposited in to your account. For a quicker response, please use:
- Phenix-Girard’s Mobile App which can be found on Apple’s App Store and Google Play.
- Phenix-Girard’s Internet Banking Site.
- Our Telephone Banking Line 334-297-1689 or 855-757-8318 (toll-free). For instructions on how to use, click hereUse Telephone Banking
- The IRS is also in the process of setting up a web tool (Get My Payment) to check the status of your payment. This tool should be available mid April. Check the IRS website for the status of the tool. An additional feature of Get My Payment will allow eligible individuals a chance to provide their bank account information so they can receive their payment more quickly rather than waiting for a paper check. This feature will be unavailable if your Economic Impact Payment has already been scheduled for delivery.
The American Banker’s FAQ on Economic Impact Payments
The IRS’s Economic Impact Payment Webpage