Second Wave of “Stimulus Checks” Set To Arrive

Payments may begin to arrive as early as January 4th.

in response to the coronavirus impact on the economy the government is contemplating a stimulus package or bailout for companies in financial crisis

The second round of Coronavirus Stimulus Checks (also called Economic Impact Payments) has been initiated by the IRS during the last week of December.

The largest majority of payments will be sent out in early January, with the first payments to be dated Monday, January 4, 2021.

For security reasons, the IRS plans to mail a letter about the economic impact payment to the taxpayer’s last known address. You are encouraged to retain a copy of the letter for your tax records. The letter will provide information on how the payment was made and how to report any failure to receive the payment. If a taxpayer is unsure they’re receiving a legitimate letter, the IRS urges taxpayers to visit IRS.gov first to protect against scam artists.

If you have additional questions, the IRS website is an accurate and updated resource.

Coronavirus Stimulus Payments: Please be extra cautious of scams where fraudsters may pretend to be with the IRS and ask for your personal information. There are a few important things to know and share with older family members who may not be as well-informed:

  1. The government will not ask you to pay anything up front to get this money. No fees. No charges. Nothing. If you are asked to pay up front, this is a scam.
  2. The government will not call to ask for your Social Security Number, account numbers or credit card numbers. Anyone who calls you to ask for this is likely a scammer.
  3. Most people won’t need to take action. However, “non-filers” will need to submit information to the IRS. A “non-filer” is described as
    • You did not file a 2018 or 2019 federal income tax return because your gross income was under $12,200 ($24,400 for married couples). This includes people who had no income. Or
    • You weren’t required to file a 2018 or 2019 federal income tax return for other reasons

For accurate information regarding the stimulus payments, we recommend visiting the IRS Coronavirus Economic Impact Payments page.

United States Treasury Check

For information from WCCU related to the COVID-19 Pandemic, please see our COVID-19 Resources and Updates Page.

For up-to-date information on the virus and resources for your family and community, visit www.cdc.gov/COVID19.

If you come across any suspicious claims or scams, report them to the FTC at ftc.gov/complaint.

If you have any questions related to a potential scam or your financial health, please contact us directly.

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