Economic Impact Payments (Stimulus Payments)
On March 12, 2021, the Internal Revenue Service (IRS) recently announced they will begin delivering a third round of Economic Impact Payments (also commonly referred to as stimulus payments) to millions of Americans. Payments will begin distributing with an effective date of March 17, 2021. Please remember the following tips from the previous two rounds of payments:
What You Can Do
- Check the status of your stimulus payment online. Visit the government-provided website to check the status of your stimulus payment. The IRS has also provided important stimulus payment information online, such as FAQs and the ability to confirm your payment type (direct deposit or by mail). Recipients will NOT be allowed to provide new bank account information. Get My Payment
- Important Note for those who used tax preparation services (such as H&R Block, etc): Information has been published indicating that taxpayers who filed their taxes utilizing tax preparation services (such as H&R Block) may see digits of an account number they do not recognize when verifying their stimulus payment online. This is not an issue your financial institution can assist with. Please contact the company used to file your taxes to verify the account information.
- Please do not call AHB regarding the status of your stimulus payments. We do not have any information from the IRS regarding who should receive a stimulus payment, when they should arrive, nor what method the payments will arrive in.
- Have an open AHB account. For those receiving a stimulus payment as a direct deposit at AHB, your AHB account must be open.
- Utilize deposit alerts. Transaction and balance alerts are available in our Digital Banking Suite. Transaction alerts will notify you via your chosen method of communication (email, text message, or in-app message) when a debit or credit is posted to your account. Use the following links for step-by-step instructions on setting up deposit alerts: desktop version and mobile app version.
- Monitor your account via one of our self-service methods. Account balances and/or transactions can be viewed using many of our self-service tools. Look for a credit item labeled "TAX REF", "TAXEIP3", or similar.
- Words from the IRS. The IRS has stated that stimulus payments will be automatic, and therefore, taxpayers should not contact their financial institutions or the IRS with payment timing questions.
- Regardless, we expect high call volumes. Due to expected high volumes of calls and online banking/mobile app inquiries, please be patient as our employees work diligently to serve you as quickly as possible.
- Payment methods may vary. As experienced in the prior two rounds of stimulus payments, the method and timing of receiving a stimulus payment will likely vary. Some received direct deposits, others checks, and yet others prepaid debit cards. We do not know which methods will be used for each person, so please refer to the IRS link provided above for detailed information regarding when and how you should expect to receive your stimulus payment.
- Updates. We will continue to update this page as we learn new information regarding the second round of stimulus payments. However, the best source of current information can be found on the IRS website: https://www.irs.gov/coronavirus/economic-impact-payments
SBA Paycheck Protection Program
On January 7, 2021, the SBA published rules governing the second Paycheck Protection Program. We are now accepting applications. Please contact your AHB loan officer for further information.
The documents below have been provided by the SBA.