IRS Stimulus Payments
- COVID-Related IRS Stimulus Payments
- 3rd Round of Stimulus Payments
- FAQs on Payment Status
The first wave of payments posted on Wednesday, March 17th. Other waves may follow.
For members whose payment is sent to an account that is now closed, we are required by IRS regulations to return that payment to the IRS. We are not able to change the payment to a different Truliant account. The next step for returned payments will be for the IRS to send paper checks to the address on file for each taxpayer.
The Federal Government passed a third COVID relief stimulus package in early March. A third stimulus payment is available for many Truliant members.
If you file your tax return separately or as single:
- Individuals with income up to $75,000 on their most recent tax return will receive the full $1,400.
- Individuals with income above $75,000 but no higher than $80,000 on their most recent tax return will receive a reduced amount.
- Individuals with income above $80,000 on their most recent tax return will not receive an Economic Impact Payment.
- Head of household filers with income up to $112,500 will receive the full $1,400.
- Head of household filers with income above $112,500 and up to $120,000 will receive a reduced amount.
- Head of household filers with income above $120,000 will not receive an Economic Impact Payment.
- Those with joint income up to $150,000 on their most recent tax return will receive the full $2,800.
- Those with joint income above $150,000 but no higher than $160,000 on their most recent tax return will receive a reduced amount.
- Those with joint income above $160,000 on their most recent tax return will not receive an Economic Impact Payment.
Families who fall into the income categories above will also receive $1,400 per eligible dependent. For this round, there is no age restriction on eligible dependents, so college students up to age 23 may qualify, as well as elderly parents living with you.
When will the funds be added to my account?
For taxpayers who have direct deposit information on file with the IRS, you will see a pending deposit in your account that will note the date the IRS will allow us to make the funds available. Others will receive paper checks by mail in the coming weeks.
Why is the payment pending? When will it clear?
Direct deposit payments may take several days to post to your account. Members may see direct deposit payments as pending in their accounts before the scheduled and official payment date. The pending payment will indicate the date that the IRS will allow us to make funds available. For members who see a pending stimulus payment from the IRS Treasury, the funds will be available this Wednesday, March 17th.
What if I have other questions?
- Visit irs.gov/coronavirus/economic-impact-payments for more information.
- Read answers to the Frequently Asked Questions we have provided below.
- Please remember that the staff in our branches and call center will not be able to answer questions about the stimulus payments.
The IRS emphasizes that there is no action required by eligible individuals to receive this third payment. Payments are automatic, per the IRS, and Truliant does not have additional information related to the eligibility or timing of any member's stimulus payment.
The pending payment description should also list the post date. In the first wave of payments, the funds were made available Wednesday, March 17th.
From the U.S. Treasury Department: Eligible individuals will receive an Economic Impact Payment of up to $1,400 for individuals or $2,400 for married couples and up to $1,400 for each eligible dependent. Please read our FAQ about income requirements.
If you believe you are eligible for an Economic Impact Payment but have not received one, it could be for one of the following reasons:
- You received a stimulus payment in the previous rounds but do not qualify this time because of the new income requirements.
- The IRS has incorrect direct deposit information on file for you. If your payment is returned for this reason, the IRS will send a paper check to the address they have on file for you.
- The IRS has an old or incorrect address on file for you. An option available to update your address on file is IRS Form 8822.
Truliant representatives cannot help with payment status. For more information, please visit irs.gov/coronavirus/get-my-payment.
The IRS has indicated that if your payment was delivered to a closed account, it will ultimately be delayed. If your deposit is rejected due to the account being closed, the IRS will issue your payment with a check mailed to the address on file for you. Per IRS regulations, we are not able to reactivate closed accounts for the purpose of posting a member's Economic Impact Payment, and we are not able to change the payment to a different Truliant account.
The IRS will use your adjusted gross income from your most recent tax return, 2019 or 2020 (if you’ve filed).
The IRS will use the most recent return they have on file. If your 2020 return has not been processed by the time the next stimulus payments go out, you will need to claim a tax credit on your 2021 tax return. More information can be found here: irs.gov/coronavirus/economic-impact-payments.
While Truliant is here to help our members, we are not able to track your expected payments. To learn the status of your stimulus payment, visit the IRS website.