Millions of American are beginning to receive the $600 federal stimulus payment. However, many will have to wait and may even have to file their tax return to collect.
By law, the IRS must issue all payments by Jan. 15. But beyond then, those entitled to a check, but have yet to receive one, may need to claim it as a credit on their 2020 returns.
The IRS recently began issuing a second round of stimulus payments to those eligible. Unfortunately, because of an IRS error, which has since been remedied, millions of payments were sent to the wrong accounts and some may not have received their stimulus payment.
As of today, January 8th, delayed stimulus payments are being deposited to accounts. We expect most payments to be available right away, but your financial institution could take a few business days to process. Stimulus checks will be deposited to the same account that you received your 2019 tax refund.
Wauna Credit Union understands how important these funds are for so many of our members. We are here for consultation or if you have questions about your accounts.
For more information about stimulus payments, please go here.