The Internal Revenue Service (IRS) and the U.S. Treasury Department began delivering a second round of Economic Impact Payments (EIP) in early January as part of the Coronavirus Response and Relief Supplemental Appropriations Act of 2021. These direct cash payments to eligible individuals and families are for financial relief during the coronavirus pandemic, and are sometimes referred to as "stimulus checks".
First National Bank and Trust (FNBT) is taking proactive steps to respond to the needs of our customer family directly affected by the pandemic, and we stand ready to help our customers get access to the government’s Economic Impact Payments quickly, securely and safely.
We are happy to inform our customers that the Treasury Department and IRS provided new information on the Economic Impact Payments (EIPs) to individuals and families. During this second round of payments, most people received theirs automatically on January 4, 2021.
A few things to keep in mind:
- The Internal Revenue Service (IRS) is responsible for the timing, amount and distribution of these payments, and has stated that payments will be sent throughout January 2021.
- The IRS will distribute payments using the information that the IRS has on file for each eligible individual or family.
- 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.
- Banks, including First National Bank and Trust, cannot provide personal account or address information to the IRS.
- Direct deposits are posted for open accounts on the effective date set by the Treasury.
- The best way to track the status of your stimulus check is to visit the “Get My Payment” tool on the IRS website: www.IRS.gov.