Tag Archives: stimulus payment

Will I Be Getting a Second Stimulus Check?

After eight months of negotiations, the Senate has finally passed a bipartisan deal on a new coronavirus stimulus plan. The $900 billion economic relief package will deliver emergency aid to a trampled economy and provide struggling Americans with desperately needed funds.

The bill will put $325 billion toward business relief in an effort to revive strained corporations around the country. Specifically, an approximate $275 billion will fund the depleted Paycheck Protection Program, which now includes loans made available from small lenders. Another $20 billion will be directed toward small business grants and $15 billion will go toward live event venues.

Another crucial component of the stimulus bill is the boost in unemployment insurance. The bill adds a $300 federal unemployment supplement and extends pandemic-era programs that expand eligibility for unemployment.

The legislation also designates $82 billion for schools, $45 billion for transportation needs, $25 billion in rental assistance, $20 billion for vaccine distribution and $13 billion for a significant expansion of food assistance benefits.

Most Americans are primarily concerned with just one part of the bill: the second round of stimulus checks, or Economic Impact Payments (EIP).

Here’s all you need to know about the second stimulus checks:

Who qualifies for a stimulus check?

The $600 payments will be distributed to eligible recipients based on their 2019 tax returns as follows:

  • Each adult who earned $75,000 or less will receive a stimulus check of $600.
  • Married individuals filing jointly who earned $150,000 or less will each receive a stimulus check of $600.
  • Heads of households earning up to $112,500 will receive up to $600.
  • Parents and legal guardians will receive a $600 check for each dependent under age 17.
  • Adults who earned more than $75,000, married individuals filing jointly who earned more than $150,000 and heads of households who earned more than $112,500 will have their payout reduced by $5 for every additional $100 of income.

 Who does not qualify for a stimulus check?

  • Adults who earned $87,000 or more, married couples filing jointly who earned $174,000 or more and heads of households who earned $124,500 or more are not eligible for the EIPs.
  • Adults who are claimed as dependents will not be eligible for the EIPs.
  • Undocumented immigrants will not be eligible for a direct payment; however, households in which one parent has legal residency and another does not are eligible to receive the checks.

What if I didn’t file a tax return for 2019?

If you have not filed a tax return for 2019, you’ll need to complete this form to receive the stimulus payment.

When will I get my check?

The distribution of these payments is expected to be a lot quicker than the first EIPs back in the spring. On Monday, Dec. 21, Secretary of the Treasury Steven Mnuchin promised that millions of Americans would begin receiving their payments as early as the following week.

Most individuals and couples who have filed taxes for 2019 will receive their checks first via direct deposit into their accounts. Those who have not yet filed taxes for 2019 will receive their EIP in the mail, via paper check or prepaid debit card. This process may take up to five months.

If you’ve filed taxes already but the IRS does not have your account information, you may have to wait a while to receive your payment. If you’d rather get it sooner than later, you can use this link to securely share your account information with the IRS and receive your payment via direct deposit.

For those receiving their EIPs in the mail, expect the first round of payments to go to those earning less than $20,000 a year. The next round will go toward those in the next income bracket, in ascending order until all eligible individuals and couples have received their funds.

Wondering how big your second stimulus check will be? You can use one of the many online calculators to determine your amount by entering details like your income, filing status and the number of dependents you have.

Let’s hope the new infusion of funds will help the economy bounce back and regain some of the financial losses incurred during COVID-19.


If you need further assistance, don’t hesitate to connect with us at 503.275.0300 or info@usacu.org. We’ll be happy to help you maintain financial stability during these uncertain times.

Don’t Toss That Junk Mail — It Might be Your Stimulus Payment

Four million Americans are receiving their Economic Impact Payment in the form of a prepaid debit card — and many are mistaking it for junk mail.

Last week, the U.S. Treasury Department and the Internal Revenue Service (IRS) began sending out Economic Impact Payments (EIP) as prepaid debit cards. The cards arrive in plain white envelopes that are strikingly similar to junk mail from credit card companies and scam mail. There’s no way to know that the card is from the federal government unless the recipient knows to expect it.

Reports are already pouring in from all over the country of people mistakenly tossing their EIP cards along with their junk mail. By the time they realize they’ve thrown out their long-awaited stimulus payment, it’s too late.

Here’s how to spot your EIP card, activate it and use it, in three easy steps:

Step 1: Spot your card in the mail

If you’re eligible for a stimulus payment and you haven’t yet received it via direct deposit or paper check, be on the lookout for your EIP card in the mail. The prepaid debit card will arrive in a white envelope with a return address from “Money Network Cardholder Services” of MetaBank in Omaha, Nebraska. There is no other marking on the envelope to indicate it’s been sent from the federal government.

If you think you may have mistakenly tossed your EIP card, don’t panic. You can still receive your payment by calling the toll-free customer service line at 800-240-8100 (TTY: 800-241-9100) to ask for a replacement. You can also check out the EIP website for additional information and assistance.

Step 2: Activate your card

Your EIP card will be accompanied by a letter with instructions for activating it. If the card has more than one name on it, only the primary cardholder — listed first on the card — may activate it.

Dial 800-240-8100 (TTY: 800-241-9100) and be prepared to share your name, address and Social Security number. You’ll also be asked to create a four-digit PIN, which you’ll use for all ATM transactions, automated assistance and to hear your balance. For security purposes, it’s best not to use personal information, such as your birth year or home address, as your PIN.

Watch out for scammers! Pay close attention when dialing the number to activate your card. Scammers have set up bogus EIP card call centers and are using numbers that are similar to the official one shared by the IRS.

Once your card is activated, you can also check out your balance information and transaction history at EIPCard.com or by calling the toll-free number listed above.

Step 3: Use your card

You can use your EIP card to make purchases anywhere Visa debit cards are accepted.
If you’d rather have your stimulus money in cash, you can get cash back with PIN debit purchases where available, or by withdrawing cash from an ATM that carries the Allpoint brand.

It won’t cost you money to use your card, except for a select few transactions. For example, if you make a balance inquiry at an ATM, you’ll need to pay $0.25. Also, you can make one free withdrawal from an out-of-network ATM, but you’ll be charged $2 for every withdrawal afterward. To find a surcharge-free ATM near you, check out EIPCard.com.

Keep your card safe; if you lose it, you’ll have to pay $7.50 to replace it. It’s also a good idea to keep track of your balance so you don’t end up at the register with a card that’s declined because of an insufficient balance.


How are you spending your stimulus check? If you need further assistance, don’t hesitate to connect with us at 503.275.0300 or info@usacu.org. We’ll be happy to help you maintain financial stability during these uncertain times.