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New Stimulus Payments Have Begun

Posted on Friday, January 1, 2021 in Banking Information

As part of the COVID-related Tax Relief Act of 2020, the federal government is sending a second round of stimulus payments (also known as economic impact payments) to eligible recipients.

How will you receive your payment?
If you are eligible for a stimulus payment, you could receive your funds through:

  • Automatic Deposit Your payment may be deposited directly into the same account used when you filed your 2019 tax return or the account number used in the previous stimulus payment program. The payment will be listed as "IRS TREAS 310 XXTAXEIP2". You can monitor your account and watch for your payment through Online Banking or Mobile Banking app.
  • Paper Check in the Mail You will most likely receive a US Treasury Check in the mail if you have not provided the IRS your direct deposit account information in the last two years. The stimulus check will be mailed to the address on file at the IRS from your 2019 year tax return.  Your check can be deposited using our Mobile Deposit service.

You can check the status of your payment on the IRS Website.

Protect yourself from fraud

Please stay alert! With this second round of stimulus payments, you may see an increase in fraudulent activity by cybercriminals. If you receive a suspicious email or text message, don't respond, click on links or open attachments. If we were to contact you, we will not ask any confidential information over the phone or via email.

You can rely on us

We understand these continue to be challenging times. Reliance State Bank is committed to taking care of your financial needs. We are here for you.

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