In a press release published on Monday, January 11, the IRS stated they are continuing to work with the financial and tax industry to get Economic Impact Payments to eligible taxpayers. The process of redirecting payments to the proper accounts has begun. For more information in how you may be impacted, please visit the IRS's official statement by clicking here.
At this time, the IRS is advising individuals to continually monitor their bank accounts for their Economic Impact Payment deposit. An error found within the "Get My Payment" portal has resulted in millions of taxpayers receiving results stating their deposits are on their way to an unfamiliar account. The IRS and Treasury are diligently working to solve this error and provide accurate information to taxpayers.
At this time, no action is necessary for taxpayers who are seeing. incorrect information - there is no need to call the IRS, tax provider, or financial institution. UBU will provide any relevant updates for customers as information becomes available.
The IRS announced on Monday, January 4, that the "Get My Payment" Portal is now live for individuals to inquire the status of their economic impact payment. To access this portal, please click here.
For more information about the press release from the IRS on January 4, that announcement can be viewed by clicking here.
On December 29, 2020, the Internal Revenue Service (IRS) and the Treasury Department released a press statement announcing the distribution of the second round of Economic Impact Payments. This payment, part of the Coronavirus Response and Relief Supplemental Appropriations Act of 2021, will be issued via direct deposit and mailed checks.
For FAQs relating to these payments, including eligibility for a payment, how payments are delivered, and when to expect payments, please visit the IRS's website by clicking here.
At this time, the IRS has not yet configured an online tracking system to monitor where the status of economic impact payments. UBU is closely monitoring updates pertaining to this feature and will update our customers as more information becomes available.
If you have any questions or concerns at this time, please contact us for assistance.
Note: direct deposits are initiated on a timeline set by the IRS; UBU does not facilitate the distribution of these deposits. Additionally, mailed checks may be received by individuals prior to the date printed on the physical check. These funds are not available for deposit at United Bank of Union until the date indicated on the physical check.