Economic Impact Payments | NC CARES Act | Peoples Bank NC

Economic Impact Payments (CARES Act)

Do you have questions about your stimulus payment? Visit IRS payment status website for current information first.

The federal government has enacted a new law, the CARES Act. This law includes a provision for automatic payments to eligible taxpayers. No further action is needed by taxpayers who filed tax returns in 2018 and 2019 and most seniors and retirees.

How You'll Receive the Payment

If you qualify and filed a 2019 or 2018 tax return, your payment will be deposited directly into the same banking account 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. Note that payments are being distributed by the IRS in waves, so if someone you know has received theirs but you haven't yet, it is not a cause for concern.

If the IRS does not have your direct deposit information, a portal is available on the IRS website to allow you to provide your routing and account numbers to set up direct deposit. The web address is https://www.irs.gov/coronavirus/economic-impact-payments.

Click here to check on the payment type and status of your Economic Impact Payment.

The IRS has set up a dedicated web page at https://www.irs.gov/coronavirus/economic-impact-payment-information-center to get more information about Economic Impact Payments. Since details about this program are still changing, we encourage you to check this website regularly for updates.

Mobile Check Deposit Availability

If you are not able to use direct deposit, the IRS will be mailing paper checks. Please note that we are unable to accept checks from the US Treasury via mobile deposit. You will need to bring your deposit to one of our branch locations. At this time, branch lobby service is limited, click here for a list of locations with drive-thru access.

Avoid Scams Related to Economic Impact Payments

Customers should be on the lookout for scam artists trying to use the economic impact payments as cover for schemes to steal personal information and money. Peoples Bank and the IRS will not call, text you, email you or contact you on social media asking for personal or bank account information – even related to the economic impact payments. Also, watch out for emails with attachments or links claiming to have special information about economic impact payments or refunds.

To set up direct deposit of your check, communicate only with the IRS at irs.gov/coronavirus. And you only need to do this if you didn’t give the IRS your bank information on your 2018 or 2019 return. The IRS online forms are available through irs.gov/coronavirus, but nowhere else, and never in response to an email, text, or call.