The team at American Spirit Federal Credit Union has been working diligently to provide our members with relief and support through the pandemic.
As you may have heard, this week, the CARES Economic Relief Payment program will begin, which includes a stimulus provision for eligible taxpayers who filed a tax return for either 2019 or 2018. Eligible citizens can receive a payment as high as $1,200 for individuals or $2,400 for married couples. Parents can also receive a $500 payment for each qualifying child.*
How You Can Receive Your Payment Electronically
If you qualify to receive payments and you filed a 2019 or 2018 tax return, your payment will be deposited directly into the same account that you used for tax filing purposes. If you have not yet filed your 2019 tax return, the account used for your 2018 tax filing will be used.**
The IRS is distributing stimulus payments in waves, so if you are qualified and someone you know has already received a payment and you have not yet, it is not a reason to be concerned.
As soon as American Spirit Federal Credit Union receives funds and direct deposit instructions from the IRS, we will deposit them into the share account you indicated on your previous tax return, and your funds will be available immediately.
If You Receive Your Tax Payment Via Paper Check
If you previously received your 2019 or 2018 tax refund payment via check, the IRS will mail your CARES stimulus check to the physical address on file.
We Stand With You
Please note that American Spirit FCU will never ask for your account information through email, so be on the lookout for phishing scams as the stimulus program gets underway.
Thank you for choosing American Spirit Federal Credit Union. Stay safe.
*For individuals, these payments will be reduced for those with an adjusted gross income of more than $75,000 and will be zero for those whose adjusted gross income is more than $99,000. For couples, these payments will be reduced for those with an adjusted gross income of more than $150,000 and will be zero for those with an adjusted gross income more than $198,000.
**If the IRS does not have your direct deposit information, visit irs.gov to learn more about their portal where you can submit direct deposit information.