The IRS has begun distributing 2021 Economic Impact Payments and SAFE is again accelerating deposits as they arrive. Initial direct deposit payments may post up to a full day early. If you are eligible for a payment, be sure to check your account regularly to see if the funds are available. Immediate information on your account is available through online banking and through SAFE’s mobile app.

Keep in mind, SAFE does not have information on whether you will be receiving a payment and payments may take place over a period of days or weeks. Visit the IRS website for the most current information on the new Economic Impact Payments and how you may be affected.

Visit IRS.gov

SAFE has answered some of your most commonly asked questions regarding the new legislation and direct payments below.

Stimulus Payment FAQs

What is a stimulus payment?
It's a non-taxable, direct payment that can be used however you want and does not need to be repaid to the government. 
 
Why is there another round of stimulus payments?
On Thursday, March 11 President Biden signed off on a $1.9 trillion pandemic relief package that included an additional $1,400 stimulus payment to qualifying Americans.
 
Will I get a second stimulus payment?
There are a few factors that play a role into whether you'll get a payment:
  • If you have a Social Security number- If you are married to someone who does not have a SSN, and you file your taxes jointly, you're still eligible for payment.
  • If you filed taxes in 2019 or 2020- the most recent tax return must show an adjusted gross income (AGI) BELOW $75,000 for single filers, $112,000 for heads of household, or $150,000 for married or joint filers to get the full $1,400 payment.
  • If you did not file taxes- because your income was too low, you get the maximum payment of $1,400 per adult and any dependents.
  • If you receive federal benefits- like Social Security retirement or disability, Supplemental Security Income, or Veterans Affairs benefits, the IRS will use this information to determine the amount and delivery method of your payment. 
How much will I get?
The relief package authorizes a $1,400 stimulus check for adults under a certain income limit, plus an additional $1,400 payment for each dependent. 
 
What are the income limits to get a stimulus payment?
Individuals with an Adjusted Gross Income (AGI) of up to $75,000 are eligible for the full $1,400 payment. That amount will decrease incrementally for incomes greater than that and will phase out completely if you make an AGI of $80,000 or more.
 
If you file taxes as head of household and earn up to $112,500, you're eligible for the full $1,400 payment. The payments phase out completely at $120,000.
 
If you are married and file your taxes jointly with your spouse, you'll receive a total payment of $2,800 with an AGI of up to $150,000. That payment would phase out completely with an AGI of $160,000 or more.
 
When will I get my third stimulus payment?

Initial direct deposit payments began posting as early as March 16. If you are eligible for a payment, be sure to check your account regularly to see if the funds are available. Immediate information on your account is available through online banking and through SAFE’s mobile app. Keep in mind, SAFE does not have information on whether you will be receiving a payment and payments may take place over a period of days or weeks.For the latest information, consult the official IRS link:

More Info From IRS.gov
 
How will I get my payment?
You're likely to get your third stimulus check the same way you received your first two stimulus payments last year—by direct deposit, paper check, or pre-paid debit card. If you receive federal benefits, you'll get your third stimulus the same way you receive your benefits.
 
Is there anything I need to do to get my payment?
The third round of stimulus payments will be distributed automatically, with no action needed for eligible recipients. 
 
What if I didn't get the last stimulus payment?

The IRS and Treasury have issued all first and second Economic Impact Payments. If you didn’t get any Economic Impact Payments or got less than the full amounts, you may qualify for the Recovery Rebate Credit and must file a 2020 tax return to claim the credit even if you don’t normally file.

More Info About Recovery Rebate Credit
How can I avoid a stimulus payment scam?
Beware of COVID related scams. Never give out your personal information—even if someone claims it is necessary to get your second direct stimulus payment. Keep in mind:
►The government will never ask you to pay anything up front to get your stimulus money
►The government won't call, text, email, or contact you on social media to ask for your Social Security, bank account, or credit card number.
►There's no such thing as getting your money early, or faster. Anyone who says they can pay you now is a scammer.
Visit the Federal Trade Commission's website for more information on protecting yourself.
 
How to protect yourself
Where can I get more information?
If you need additional information about Economic Impact Payments, visit the IRS website here:
 
Visit the IRS Website