What You Need To Know
The Treasury began processing the latest COVID-19 Economic Impact Payments on December 29th, 2020. These additional Economic Impact Payments or “stimulus payments” are part of the emergency coronavirus relief package delivered by the U.S. Federal Government.
The Internal Revenue Service (IRS) is responsible for the timing, amount and distribution of these payments, and has stated that payments will be sent in waves over the course of multiple weeks. Seacoast wants to make sure you know which resources are available and where you can learn more if you have questions.
The IRS has released tools and information that can help you understand what the payments mean for you and your family.
- Visit the IRS website for information regarding eligibility, requesting, calculating and receiving payments.
- You can check status of your payment, payment type (direct deposit or paper check), and how to set up a direct deposit if available at IRS Get My Payment.
- For most of the recipients, payments will be deposited directly into the same bank account that they have most recently used to receive a tax refund or monthly Social Security payment. Others will receive paper checks or prepaid cards in the mail, at the address that the IRS has on file for that individual.
- In the event that a payment is sent to a closed account, the IRS requires Seacoast Bank to return the payment. If you don’t get a payment and you are eligible to receive one, it may be claimed on your 2020 tax return as the Recovery Rebate Credit. Visit Get My Payment Frequently Asked Questions for more information.
Our branches and customer service centers will not have information on Economic Impact Payment eligibility, timing or distribution. These payments are decided and distributed solely by the IRS.
Be vigilant in protecting your personal and financial information.
There has been an increase in scams and phishing attempts that use the economic impact payments as a means to steal your personal information and money. The IRS and Seacoast Bank will not call, text, email or use social media to contact you asking for personal or bank account information. Learn more about protecting yourself from scams related to the relief check program here.