Economic Impact Payments

Second Stimulus Package Announced - updated January 15, 2020

A second economic stimulus package was signed it into law on December 27. Direct payments to taxpayers are included in the bill and payments began arriving January 4 for ATFCU members. The stimulus package included a provision that all payments be distributed by January 15, 2021.  That doesn't mean all payments will be received by that day; simply that they will have been sent.


The IRS is aware of an error that caused 13 million stimulus payments to be delayed.

  • This error concerns consumers who used tax preparation services such as H&R Block, Jackson Hewitt, TurboTax, etc. for their 2019 returns and opted to receive their tax refund early by having it loaded onto a gift or debit card.
  • When such cards are issued, the tax preparer sets up a temporary account for the taxpayer
  • The stimulus payment was directed to the temporary (now closed) account and cannot be retrieved by the taxpayer.
  • The tax prep companies involved are legally required to return the stimulus payments to the IRS.
  • On January 8, 2021, the IRS began correcting the error and some affected taxpayers began receiving their payments.  Most should be complete by mid-January.

Here's how you can tell if this happened to you.

  • Assess the IRS's Get My Payment tool.
  • Enter the personal information requested.
  • If the tool says that the payment has been made to an account with a long account number (say 10-14 digits), that's a good indication that it was made to one of the temporary accounts described above.
  • If that is the case, waiting for the error to be corrected is the only thing that can be done.  If the stimulus payment has not been received by the time you file your 2020 tax return, you can file for it at that time.

Paper checks (and a few gift cards) are being mailed to indivduals not receiving direct deposits.  Given increased processing and delivery times, the IRS expects that some checks will not arrive until the end of January.  We advise you to monitor your mail carefully during the month. 

Where Will My Payment be Sent?  Your payment will be sent to exactly the same account as the first stimulus payment in April 2020.

What If I Have Closed that Account?  If financial institutions receive stimulus payments for accounts that have been closed with no fees owed, they are required to return the money to the IRS.  If the account has been closed due to a negative balance, the funds can be used to clear the balance.

If you are eligible for a payment and do not receive the payment for any reason, it can be claimed when you file your 2020 tax return.

Specific Payment Information:

  • Payments will be $600 per person for individuals making less than $75,000 a year or couples making less than $150,000 a year.  There will also be $600 payments for dependents aged 16 and younger.
  • Taxpayers making above those limits will receive partial payments until their income becomes so high that they are no longer eligible.
  • The earliest payments will be made via direct deposit to taxpayers who have filed their income taxes electronically in the last 2 years 
  • If Congress chooses to increase the payments to $2,000 per eligible American, the additional funds will be sent in a separate transaction at a date to be announced later.

Since the phone lines opened on January 4, the ATFCU Call Center has been absolutely covered up with calls.  Here's why - we have 51,000 members and 10 very dedicated staff members in that department.  As you can see, the math gets ugly pretty quickly.

Members can check their balances much more easily and frequently by using digital banking.  We've developed easily understood instructions to get you started and encourage you to take that step now. 


First Stimulus Package - Spring 2020 - updated July 30, 2020

On May 27th, the Internal Revenue Service announced potentially confusing information about recently delivered stimulus payments. Rather than the expected check format,  payments were made via prepaid debit cards. The cards arrived in plain white envelopes. The envelopes might have the words 'Money Network Cardholder Services' printed on them, although some Abilene residents received envelopes without that wording.

This situation has all the marks of a scam but it is legitimate. The card inside the envelope has a dark blue background with white and copper stars. In the upper right hand corner it reads 'VISA DEBIT'.

The cards are accompanied by the informational insert shown below.

Debit card insert for economic stimulus payments


The Internal Revenue Service began releasing Economic Impact Payments on April 10, 2020.  Payments were made via direct deposit or check. Here is information we've compiled to explain the process.

How Much Will I Receive?

Single Taxpayers

  • ‚ÄčIf your adjusted gross income (AGI) on your 2018 or 2019 tax return was up to $75,000, your stimulus payment was $1,200.
  • If your adjusted gross income on your 2018 or 2019 tax return was between $75,000 and $99,000, the payment amount was reduced by $5 for each $100 above the $75,000 threshold.  For example, if your AGI was $84,000, your check will be for $750.  This figure is calculated by counting the number of $100 segments between $75,000 and $84,000. (There are 90.)  Then multiply 90 x $5 = $450.  Subtracting $450 from $1,200 results in a payment of $750. 
  • If you have children, you will receive $500 for each qualifying child aged 16 or younger

Taxpayers Filing Jointly

  • If your adjusted gross income (AGI) on your 2018 or 2019 tax return was up to $150,000, your stimulus payment was $2,400.
  • If your adjusted gross income on your 2018 or 2019 tax return was between $150,000 and $198,000, the payment amount is reduced by $5 for each $100 above the $150,000 threshold.  For example, if your AGI was $156,000, your check was for $2,100.  This figure is calculated by counting the number of $100 segments between $150,000 and $156,000. (There are 60.)  Then multiply 60 x $5 = $300.  Subtracting $300 from $2,400 results in a payment of $2,100. 
  • If you have children, you received $500 for each qualifying child aged 16 or younger.

When will I Get My Payment?

  • 80 million payments were deposited nationwide on April 10 and the rest followed relatively quickly.  The Get my Payment website tool from the IRS allows you to input your Social Security number along with other identifying information and see the approximate date of your payment.
  • The first paper checks were mailed on May 1 and continued through the summer.  The final batch of checks was mailed on September 4.

How will I get my payment?

  1. If you used direct deposit to receive a tax refund in 2018 or 2019, the IRS directly deposited your check into the account you specified at that time.
  2. If you did not use direct deposit for your refund in 2018 or 2019, your payment check should have arrived by mail.  
  3. If you are not required to file a tax return because you are a senior citizen, a Social Security recipient or a railroad retiree, you do not need to do anything.  The IRS will use the information contained on your 1099 forms to determine where to send your payment.
  4. If you are don't normally file a tax return (usually, but not always, due to low income level), the IRS has developed a non-filer tool that allows you to enter your identifying information, contact details, and (if applicable) banking information.  

I've Never Used Direct Deposit.  What do I Need to Know?

You will be specifically asked for your financial institution's routing number and your account number.  The best place to find this information is on one of your checks.  Please refer to the illustration below.

  • The routing number is the 9-digit code found in the bottom left corner of your check.  The ATFCU routing number is 311376533. 
  • Your account number is the string of digits that follows the routing number.  Special Note to ATFCU members - your account number is longer than your member number.  You must include all digits to ensure that the correct account receives the payment.
  • Do not accidentally include your check number as part of your account number.

We encourage you to use digital banking to verify the receipt of directly deposited funds.  Checks may be deposited using the mobile check deposit feature in our app or at any of our drive through locations.


Stimulus Payment Fraud Alert

The first round of economic stimulus payments began April 8 and were delivered by direct deposit or check. Please be careful and protect yourself from scammers by being aware of the following:

  1. The IRS will not contact you by phone, text or email.  
  2. You will not be asked to pay a fee or confirm any personal information prior to receiving these funds
  3. Do not give out your personal financial or account information to anyone unless you have initiated the transaction
  4. If you received your stimulus funds by check, compare it to this sample below, taken from the US Treasury Department's website.  You may also click here to verify a check with the Treasury Department.

US Treasury check

We encourage you to use digital banking to verify the receipt of directly deposited funds.  Checks may be deposited using the mobile check deposit feature in our app or at any of our drive through locations.