On December 29, the Internal Revenue Service and the Treasury Department announced that they are beginning to distribute the second round of Economic Impact Payments, also known as a “stimulus check,” as part of the Coronavirus Response and Relief Supplemental Appropriations Act of 2021 to millions of Americans who received the first round of payments earlier this year.
Here’s what you need to know about claiming your check:
- Stay up to date by checking the IRS Coronavirus Resource website.
- To qualify, individuals generally must have a Social Security number and must not qualify as the dependent of another individual.
- Payments will be based upon your most recent tax return. Expect to receive $600 ($1,200 if married filing a joint return), plus $600 for each qualifying child under age 17.
- Payments are phased out for those with adjusted gross income (AGI) exceeding $75,000 ($150,000 if married filing a joint return). Payments will be reduced $5 for every $100 in income above the threshold.
- Retirees who do not file taxes will have their payments based off the information on the Form SSA-1099 or Form RRB-1099.
- Payment will be deposited into your account if you have direct deposit information on file with the IRS. If you did not provide direct deposit information or need to update it, the IRS may be reopening the web portal to submit your information. Need help finding your SESLOC account information to register for direct deposit? Follow the instructions below* for Online Banking or call our Contact Center at (805) 543-1816.
- Payments without direct deposit information will be mailed as a check or prepaid debit card. Learn how to deposit your check with Mobile Banking and avoid a trip to the branch.
- If you are eligible but don’t receive your payment, you can claim the equivalent Recovery Rebate Credit when you file your 2020 federal income tax return.
Want to know when your check is deposited? Create an Alert in Online Banking:
- Log into Online Banking.
- Select Services in the menu.
- Select Alerts.
- Create New Alert, History Alert.
- Select the account share set up for the direct deposit.
- Select Credit Transaction, enter your criteria.
- Select how you would like to receive the alert.
*Where to find your SESLOC account information in Online Banking for direct deposit:
- Log into Online Banking.
- On the Accounts home page, select the tile of your preferred share.
- Click Details. Your ACH/Direct Deposit information will be displayed.
- Enter this as the Account Number on the direct deposit form. Provide the SESLOC Routing Number: 322282713(this number is displayed in the footer of Online Banking).