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Economic Impact Payments (EIP)

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In March, the CARES Act law, an economic relief package to aid American consumers and businesses as a result of the COVID-19 pandemic was passed. A provision of the law includes sending government payments to those who are eligible. For complete eligibility information please visit the IRS website.

As updates from the Treasury Department arise, we will notify our members accordingly.

What are the distribution amounts for these payments?

The Internal Revenue Service is the agency responsible for determining eligibility and distribution. The general payments for individual filers with an adjusted gross income of $75,000 or less will be $1,200. For joint filers earning a combined adjusted gross income of $150,000 or less will receive $2,400. There is an additional $500 per qualifying dependent.

When will the payments start?

If the IRS has your direct deposit information on file from the filing of your 2018/2019 tax returns, you will receive payment by ACH beginning April 10. The payments will be distributed throughout the upcoming weeks. Recipients will be mailed a check if the IRS does not have your information on file. Check payments will follow weeks or possibly months after the direct deposits are sent.

In addition, for Social Security recipients, the IRS will use direct deposit by the Social Security Administration to facilitate payments.

How will the IRS notify members about these payments?

The IRS will mail a letter to the last known address within 15 days of the payment.

Depositing your payments

If the IRS does not have your direct deposit information, checks will be mailed to eligible taxpayers in the coming months. Remember, you can always deposit your check easily from home using our Mobile Deposit through the Mobile Banking App.

Providing Your Direct Deposit Information to the IRS

The IRS developed web-based portal available as of April 10, to add or verify direct deposit information.

https://www.freefilefillableforms.com/#/fd/EconomicImpactPayment

How do I find my TruEnergy FCU routing and account number?

Our ACH Routing Number is 256075520.

You can find your account number the following ways:

  • Online Banking www.truenergyfcu.org
  • Check/Checkbook - On the bottom of a check, the account number is the set of digits to the right of the routing number.
  • Contact our call center at 703-750-4394 or 800-952-3999. Click here for hours.

Will there be holds placed on these deposits?

Electronic payments will be available immediately upon posting. There will not be any holds placed on paper checks once they are verified. If deposits are made through Mobile Deposit, the holds will be manually released.

How can I verify that U.S. Treasury checks deposited are valid?

Visit www.tcva.fiscal.treasury.gov to verify validity of check. Responses to look out for are:

  • Amount does not match (Could be altered)
  • No match (Counterfeit)

How should we handle scam inquiries?

There has been a rise in reports around the world of scammers attempting to obtain personal and financial information from individuals. We want to remind you to be on the lookout and aware of these potential scams. The IRS will not call, text, email or contact them on social media asking for personal or account information. Refer them to www.irs.gov or the Federal Trade Commission at www.ftc.gov.

15 Apr, 20