Newsroom
Treasury, IRS launch stimulus payment tool for non-filers
The Treasury Department and Internal Revenue Service Friday launched a new web portal, the non-filer tool, to help those who don't normally file a tax return register for the stimulus payments under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). The agencies also announced that automatic payments are set to begin this week.
Additionally, the agencies indicated that another tool will be released to enable individuals to track the status of their payment. Get My Payment, expected to be available for use by April 17, features updates on the status of payments, including the date a payment is scheduled to be deposited or mailed.
Eligible individuals will be allowed to provide their bank account information so they can receive their payment more quickly; however, this feature will be unavailable if the payment has already been scheduled for delivery.
Last week, Nacha announced that the ACH Network is ready – and has the capacity – to handle the influx of deposits resulting from the CARES Act's stimulus payments to individuals.
NAFCU will continue to engage with industry and government stakeholders to ensure that credit unions are operationally prepared to meet their members’ needs as stimulus payments are disbursed. The association is working proactively to ensure that credit unions can put stimulus payments into the pockets of their members as quickly and securely as possible.
NAFCU has also addressed FAQs related to the stimulus payments in a recent Compliance Blog post. Access more resources related to the coronavirus – including a summary chart of CARES Act provisions – here.