FirstBank is committed to helping our customers get their Economic Impact Payment (EIP) as quickly and seamlessly as possible. Answers to commonly asked questions about this program can be found below. For more information about the program, please refer to FirstBank’s COVID information page. Frequently Asked Questions Am I eligible for an economic impact payment? Tax filers with an 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. Parents also receive $500 for each qualifying child. If yes, how much am I eligible for? For people who have already filed their 2019 tax returns, the IRS will use this information to calculate your payment amount. If you have not yet filed your return for 2019, the IRS will use information from your 2018 tax filing to calculate the payment. Visit www.irs.gov/coronavirus to learn how much money you may be eligible to receive. The eligibility for, and amount of payments, will vary according to your income and family situation, but you can find examples of the various scenarios here. How do I receive my economic impact payment? For eligible recipients, if you have filed a tax return for 2019 or 2018 or receive Social Security from the government, the IRS will calculate and automatically send the economic impact payment to you. The economic impact payment will be deposited directly into the same account you indicated on your tax return. Social Security recipients who are not typically required to file a tax return do not need to take action. You will receive your payment directly in your bank account where you receive your Social Security benefit. If you typically receive a paper benefit check, please visit the IRS portal to provide your direct deposit information to get paid as quickly as possible. If you are not typically required to file taxes and do not receive Social Security benefits, you will need to file a simple return with your banking information. Visit www.irs.gov/coronavirus for more information. The IRS does not have my direct deposit information. What can I do? The IRS has developed a web-based portal for individuals to provide their banking information online. You will need to visit the portal and provide your account number and routing number so that you can receive a payment directly to your bank account. Otherwise, you will have to wait for a check in the mail. Please visit the “Get My Payment” page at www.irs.gov/coronavirus/get-my-payment to provide your bank account information and check the status of your payment. I believe the IRS will be directing my payment to a FirstBank account that is now closed. What can I do? If you have another open and active account with FirstBank, we will do our best to redirect the payment to the open account. If you do not have any current relationship you may be eligible to re-open an account. Please visit www.efirstbank.com for more details. I don’t have a bank account to receive direct deposits. What can I do? FirstBank may be able to help you open a new account. If you choose to open a new account, you will need to provide the account number and routing number to the IRS so they can direct the payment to your bank account. The IRS developed a web-based portal where you can provide your banking information to the IRS online. Please visit the “Get My Payment” page at www.irs.gov/coronavirus/get-my-payment to provide your bank account information and check the status of your payment. Alternatively, you can opt to receive a check in the mail. Keep in mind that checks will be distributed over time and will take longer to arrive than a direct deposit. Directions for how to receive a check in the mail will be posted in the coming weeks to the web-based portal. I receive Social Security and do not file a tax return, do I need to take any action? No. Social Security recipients who are not typically required to file a tax return do not need to take action. You will receive your payment directly in your bank account where you receive your Social Security benefit. If you typically receive a paper benefit check but you prefer to get your payment direct deposited, you will want to visit the IRS web-based portal to provide your account number and routing number to get paid as quickly as possible. The “Get My Payment” portal can be found at www.irs.gov/coronavirus/get-my-payment. When will the payment arrive? The Treasury Department has said it wants payments to begin arriving around mid-April. Direct deposit payments will most likely arrive first. The IRS developed a web-based portal for individuals to check the status of their payment and/or provide their banking information online so that individuals can receive payments directly to their account if their payment has not already been sent as a check through the mail. The “Get My Payment” portal can be found at www.irs.gov/coronavirus/get-my-payment. What’s the fastest method to receive my payment? For eligible recipients, the fastest way to receive your payment is to make sure you have filed a tax return for 2019 or 2018 that includes your direct deposit information so the government can send the money directly to your account. If you have yet to file a tax return for 2018 or 2019, you should file one now. The IRS will be sending out direct deposits weekly as they process additional tax filings. For those concerned about visiting a tax professional or local community organization in person to get help with a tax return, keep in mind that the economic impact payments will be available throughout the rest of 2020. I cannot find my payment. Where was it deposited? You will get a paper notice in the mail from the IRS no later than a few weeks after your payment has been sent. The notice will contain information about where the payment was sent (either a mailing address for a paper check or the bank account number for a direct deposit) and in what form it was made. If you cannot find the payment and have not received a paper notice, please visit the “Get My Payment” portal. The portal will allow taxpayers, once authenticated, to find out the status of their economic impact payments and, if no payment or check has been issued, they can provide their banking information for direct deposit. Why did I receive less than the amount owed? Payments will be made in the full amount owed and are not subject to income tax deductions. According to Treasury, the payments may only be reduced by delinquent child support sent to the Treasury’s Bureau of Fiscal Service for collection, but you will receive a notice from the Treasury if this happens. I was not required to file taxes in 2018 or 2019, am I still eligible to receive a payment? Maybe. The IRS will use the information on the Form SSA-1099 or Form RRB-1099 to generate economic impact payments to recipients of benefits reflected in the Form SSA=1099 or Form RRB-1099 who are not required to file a tax return and did not file a return for 2018 or 2019. This includes senior citizens, Social Security recipients and railroad retirees who are not otherwise required to file a tax return. Since the IRS would not have information regarding any dependents for these people, each person would receive $1,200 per person, without the additional amount for any dependents at this time. Please visit IRS.gov/coronavirus for more information. Are the payments taxable? No. Economic impact payments are federal income tax returns and are not subject to federal income tax. I don’t have access to visit a FirstBank location, how do I deposit a check? Deposits can be made through the FirstBank mobile application, or at most FirstBank ATM locations. You can find the latest branch updates here. Don’t have Online or Mobile banking? Sign up here.