Economic Impact Payment Information

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On March 27, 2020, the president signed into law the Coronavirus Aid, Relief, and Economic Security Act (CARES Act).  This $2 trillion aid package will provide financial aid to families and businesses impacted during this time.  

The CARES Act provide direct government payments to eligible Americans to offset the economic impact of the virus.  The Treasury Department and the IRS have announced that distribution of these payments will begin in April 2020.  For most people, no action will be required.  

Official IRS information about the COVID-19 pandemic and economic impact statements can be found at:

Know Your US Treasury Check.  The Secret Service and the US Department of the Treasury want to inform citizens and consumers nationwide on ways to protect themselves during these times.  This announcement contains information that consumers can use to identify counterfeit US Treasury checks by what what to look for and where to look.  

Check on the status of your Economic Impact Payment.  This application will give you information about:

  • Your payment status
  • Your payment type
  • Whether we need more information from you, including bank account information

You may need:

  • Your 2019 return, if filed, and
  • Your 2018 return

To view your Oak View National Bank account, please use Online Banking or Mobile Banking. Telephone Banking is also available at 866-928-4714.

Frequently Asked Questions

When will I receive my payment?

If you are eligible, you may expect to receive your payment as soon as of the middle of April, according the to the Treasury Department.  

How will I know if I am eligible?  How large a payment will I receive?

The IRS is responsible for determining eligibility for Economic Impact Payments.

U.S. residents will receive Economic Impact Payments of up to $1,200 for individual or head of household tax filers, and up to $2,400 for married couples filing jointly. Parents also receive $500 for each qualifying child. Filers with adjusted gross income below the thresholds specified below will receive a full payment.

  • $75,000 for individuals
  • $112,500 for head of household filers
  • $150,000 for married couples filing joint returns

Taxpayers will receive a reduced payment if their adjusted gross income is between:

  • $75,000 and $99,000 if their filing status is single or married filing separately
  • $112,500 and $136,500 for heads of household
  • $150,000 and $198,000 if their filing status is married filing jointly

Taxpayers above the maximum thresholds indicated above will receive no payment.

Payment calculations will be based on taxpayers’ 2019 returns or on their 2018 returns if they have not yet filed for 2019.

To qualify for a payment, an individual must have a work-eligible Social Security number and must not be claimed as a dependent by another taxpayer in the current tax year. Lower-income individuals who are not subject to income tax will also receive payments.

For complete eligibility information, please visit the IRS website.

Will college students be eligible to receive a payment?

A college student who is claimed as a dependent on the tax return of a parent is not be eligible for a payment, though a financially independent student would be. For complete eligibility information, please visit the IRS website.

How will I receive my payment?  Will it be sent as a paper check or electronically?

Most individuals will receive their payment electronically. This is faster and safer than mass distribution of paper checks.

If you filed taxes in 2018 or 2019 and provided on your tax return your bank routing and account number for payments or refunds, and this information has not changed, the IRS has the information it needs to send your payment electronically, with no action required on your part.

If you are a Social Security recipient, the IRS will use the direct deposit information held by the Social Security Administration. If the direct deposit information you have provided in the past is for a bank-issued, prepaid debit card, you will receive your funds on that card account.

If the IRS does not have your information on file and you are not a Social Security recipient, a check will be mailed to you. Check payments will be distributed weeks or possibly months after the direct deposits are sent. For additional information, please visit the IRS website.  The IRS is committed to helping you get your Economic Impact Payment as soon as possible; use the Get My Payment tool provided by the IRS to provide your information.  

To receive payment more quickly, we strongly recommend you file a 2019 tax return and provide direct deposit information.

If you do not typically file a tax return because you are not required to do so (for example, you may have low income or receive veterans disability compensation, a pension, or survivor benefits from the Department of Veterans Affairs), the IRS has created an online portal, called “Non-Filers: Enter Payment Info,” for the provision of direct deposit information. Visit this link to do so.

I file a tax return every year, but the IRS does not have my current information on file.  Can I receive my payment electronically?

Yes. The IRS has created a new online portal called Get My Payment where people can obtain details about their payment and provide direct deposit information if the IRS does not already have it. 

The IRS has extended the tax-filing deadline this year from April 15 to July 15. If you file your 2019 taxes as soon as possible with your bank routing and account number on the form, the IRS may be able to use that information to send you an electronic payment.

What if I am not typically required to file a tax return?

Social Security recipients who have not been required to file tax returns will not be required to do so to receive their payments. People who typically do not file a tax return and are not Social Security beneficiaries will need to provide their information to the IRS through their website: Non-Filers: Enter Payment Info.

I have a bank account.  Can I still receive a paper check?

Yes, but be aware that your payment will be slower than an electronic transfer. Paper checks may be sent out weeks after the electronic checks are sent. Also, many banks are operating on reduced hours and bank lobbies are closed.  

What can I do to prevent fraudsters from accessing my funds?

A large amount of funds will be disbursed in the coming weeks to qualifying individuals. Accordingly, there is a risk for fraud of various types. The IRS has announced various ways individuals can be on guard against fraudulent activities. See the notice.

It is important to remember that banks or the federal government will never contact you by telephone, text or email asking for your account information. Do not provide any banking information to anyone claiming to be “registering you for your relief payment.” This is a red flag.

For security reasons, the IRS plans to mail letters about Economic Impact Payments to taxpayers’ last known address within 15 days after the payment is paid. The letter will provide information on how the payment was made and how to report any failure to receive the payment. If you are unsure you are receiving a legitimate letter, the IRS urges you to visit to protect yourself against fraudsters.

What should I do if I receive an unsolicited email or text appearing to be from the IRS?

Those who receive unsolicited emails, text messages or social media contacts attempting to gather information that appear to be from either the IRS or an organization closely linked to the IRS, such as the Electronic Federal Tax Payment System (EFTPS), should forward them to [email protected] Taxpayers are encouraged not to engage potential fraudsters online or on the phone. Learn more about reporting suspected scams by going to the Report Phishing and Online Scams page on

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