covid-19 stimulus program payments
01/05/21 UPDATE -H&R Block confirms issue causing delay for customers
Customers of H&R Block may be experiencing delays in receiving their COVID-19 economic stimulus checks.
On Monday evening, the tax preparation company confirmed there was an issue, tweeting: “The IRS Get My Payment website may display an account number you don’t recognize. If you took a Refund Transfer, it may be reflecting that account number. Check your 2019 return to confirm.”
H&R Block followed up that initial tweet with: “But don’t worry – we have sent these payments on to the method you chose for Refund Transfer: direct deposit, check or Emerald Card. The money should be there by the end of the day.”
H & R Block is asking for patience as they are experiencing a higher call, social media and app volume than usual.
*Please note: Bayer HFCU has no control over tracking these transfer payments from H & R Block
We see some electronic stimulus payments pending to post on 1/4/2021. Not all stimulus payments post on the same date and will be sent in waves as with prior payments. The credit union has no information on how or when payments are sent.
- If the payment is shown as pending, members will not have access to the funds until the post date.
- We have no right or obligation to hold funds regardless of a spousal or child custody situations. They are posted as the IRS sends them.
- According to the IRS, funds were deposited according to the deposit account for prior tax refunds.
- Members may go to the IRS website for a link to check status of deposit.
- We have no access to the IRS, members must contact the IRS themselves for information.
- Paper checks may be verified at https://tcvs.fiscal.treasury.gov/
- Members are encouraged to monitor their online banking for payment posting.
We want to share information about an economic relief payment that you may be entitled to through the recently passed coronavirus relief bill. Within this bill, eligible individual adults with adjusted gross income on their 2019 tax returns of up to $75,000 will receive a one-time payment of up to $600. Married couples (or someone whose spouse died in 2020) earning up to $150,000 a year will receive $1,200. Families who meet those income requirements also will receive $600 for each child under 17. People who filed taxes in 2019 using the “head of household” status and making up to $112,500 also will get the $600 payment, plus the additional amount for children. Payments begin to phase out when individual adjusted gross income exceeds the levels stated above, with payments going to $0 when income reaches $87,000 for individuals and $174,000 for married couples.
If you qualify for a payment, you will receive your payment in one of two ways:
- If your financial account is on file with the IRS, your stimulus payment will be deposited directly into your account. The IRS will use the account information from your 2019 tax return filings.
- If you do not have a financial account on file with the IRS, your payment check will be mailed to you at the address the IRS has on file. You can easily deposit your check using our mobile app.
While the exact day payments will be distributed is unknown at this time, we expect the Treasury Department to begin distributing payments this week. However, please note that these payments could be sent in waves, and not everyone will receive payments at the same time. We also want to remind you that the IRS will not contact you for your personal information in order to provide a payment. Stay alert to fraud, and please do not share your confidential account details.