UTELFCU has some important details to keep you informed
Economic Impact Payment Resources and Support
Do you know how to get fast, safe access to your economic impact payment?
Resources and support to help your get your money
On April 2, 2020, the Treasury Department and the Internal Revenue Service announced the distribution of economic impact payments to help Americans combat the financial effects of the COVID-19 pandemic. As always, UTELFCU is committed to providing the guidance and support you need so you can focus on your loved ones’ health and wellness and staying safe. If your finances have been impacted by the pandemic, you’re not alone. We’re here to help you understand how to get your economic impact payment quickly and safely.
Economic impact payment top tips:
- Check to see if you’re eligible. Visit irs.gov/coronavirus for questions on eligibility.
- Get in the know about avoiding fraud and scams. Use the #FTCScamBingo to learn more about avoiding COVID-19 related scams.
- Take steps to avoid getting a paper check so you can get your money faster without having to leave your home. In the coming weeks, the IRS will be developing a portal where consumers can check the status of their refund and provide their direct deposit information. Check irs.gov/coronavirus for timing.How much money am I eligible for? According to the U.S. Treasury, tax filers with adjusted gross income up to $75,000 for individuals and up to $150,000 for married couples filing joint returns will receive the full payment. For filers with income above those amounts, the payment amount is reduced by $5 for each $100 above the $75,000/$150,000 thresholds. Single filers with income exceeding $99,000 and $198,000 for joint filers with no children are not eligible.
Eligible taxpayers who filed tax returns for either 2019 or 2018 and provided direct deposit information will automatically receive an economic impact payment of up to $1,200 for individuals or $2,400 for married couples – no additional action required. Parents also receive $500 for each qualifying child.
If you’re not typically required to file taxes and don’t receive Social Security benefits, you’ll need to file a simple return.
Visit irs.gov/coronavirus for more information. Need help finding your account or routing number? The Routing Number for UTELFCU is 221376924. If you need assistance in confirming your UTELFCU account number, please call us at 315-724-5133. In the coming weeks, the IRS will be developing a web-based portal where you can check the status of your refund and provide your direct deposit information. If you need help finding your account or routing number, here are the easiest methods. You can typically find your account and routing number on the bottom left-hand corner of a personal check. The routing number is the first set of numbers and is typically nine digits. The next set of numbers — just to the right of the routing number — is your account number. If you don’t have a check handy, please contact us. We will be happy to verify your identity and provide you with the necessary information required.Protect yourself from fraud and scams. Scammers are already trying to take advantage of COVID-19 to steal your money or personal information. Be aware, they may:• Ask you to sign over your economic impact payment check to them.• Ask by phone, email, text or social media for verification of personal and/or banking information saying that the information is needed to receive or speed up your economic impact payment.• Suggest you can get a tax refund or economic impact payment faster by working on your behalf. This scam could be conducted by social media or even in person.
To learn more about the Economic Impact Payments, please click HERE or on the banner below.
Please visit our COVID-19 webpage for our response to the ongoing pandemic. As always, if you have any questions or concerns, please let us know. We are here to assist you will all of your financial needs!
Disclaimer – Nothing conveyed or provided in these documents should be considered legal, accounting or tax advice. Please contact your own attorney, accountant or tax professional with any specific questions you have related to the information provided that are of legal, accounting or tax nature.