Economic Impact Payment Guide
What to do with Economic Impact Payments (EIP) to Deceased Persons
May 7, 2020
The following is excerpted from the IRS website:
Q10. Does someone who has died qualify for the Payment?
A10. No. A Payment made to someone who died before receipt of the Payment should be returned to the IRS by following the instructions in the Q&A about repayments (see Q41 below). Return the entire Payment unless the Payment was made to joint filers and one spouse had not died before receipt of the Payment, in which case, you only need to return the portion of the Payment made on account of the decedent. This amount will be $1,200 unless adjusted gross income exceeded $150,000.
Q41. What should I do to return an Economic Impact Payment (EIP)?
A41. You should return the payment as described below.
If the payment was a paper check:
- Write "Void" in the endorsement section on the back of the check.
- Mail the voided Treasury check immediately to the appropriate IRS location listed below.
- Don't staple, bend, or paper clip the check.
- Include a note stating the reason for returning the check.
If the payment was a paper check and you have cashed it, or if the payment was a direct deposit:
- Submit a personal check, money order, etc., immediately to the appropriate IRS location listed below.
- Write on the check/money order made payable to “U.S. Treasury” and write 2020EIP, and the taxpayer identification number (social security number, or individual taxpayer identification number) of the recipient of the check.
- Include a brief explanation of the reason for returning the EIP.
For your paper check, here are the IRS mailing addresses to use based on the state:
If you live in New Jersey, mail to:
Kansas City Refund Inquiry Unit
333 W Pershing Rd
Mail Stop 6800, N-2
Kansas City, MO 64108
If you live in Pennsylvania, mail to:
Philadelphia Refund Inquiry Unit
2970 Market St
DP 3-L08-151
Philadelphia, PA 19104
For a full list of the states and mailing addresses, click here.
Provident Bank has some important details to keep you informed.
On April 2, 2020, the Treasury Department and the Internal Revenue Service announced the distribution of economic impact payments to help Americans combat the financial effects of the COVID-19 pandemic.
As always, Provident Bank is committed to providing the guidance and support you need so you can focus on your loved ones’ health and wellness and staying safe. If your finances have been impacted by the pandemic, you're not alone. We’re here to help you understand how to get your economic impact payment quickly and safely.
Economic impact payment top tips:
- Check to see if you’re eligible. Visit irs.gov/coronavirus for questions on eligibility.
- Get in the know about avoiding fraud and scams. Use the #FTCScamBingo to learn more about avoiding COVID-19 related scams.
- Take steps to avoid getting a paper check so you can get your money faster without having to leave your home. In the coming weeks, the IRS will be developing a portal where consumers can check the status of their economic impact payment and provide their direct deposit information. Check irs.gov/coronavirus for timing.
How much money am I eligible for?
According to the U.S. Treasury, tax filers with adjusted gross income up to $75,000 for individuals and up to $150,000 for married couples filing joint returns will receive the full payment. For filers with income above those amounts, the payment amount is reduced by $5 for each $100 above the $75,000/$150,000 thresholds. Single filers with income exceeding $99,000 and $198,000 for joint filers with no children are not eligible.
Eligible taxpayers who filed tax returns for either 2019 or 2018 and provided direct deposit information will automatically receive an economic impact payment of up to $1,200 for individuals or $2,400 for married couples - no additional action required. Parents also receive $500 for each qualifying child.
If you’re not typically required to file taxes and don’t receive Social Security benefits, you’ll need to file a simple return.
Need help finding your account or routing number?
In the coming weeks, the IRS will be developing a web-based portal where you can check the status of your economic impact payment and provide your direct deposit information. If you need help finding your account or routing number, here are the easiest methods.
You can typically find your account and routing number on the bottom left-hand corner of a personal check. The routing number is the first set of numbers and is typically nine digits. The next set of numbers — just to the right of the routing number — is your account number.
If you don’t have a check handy, you may be able to find the account and routing number on your statements or online banking.
Protect yourself from fraud and scams
Scammers are already trying to take advantage of COVID-19 to steal your money or personal information. Be aware, they may:
- Ask you to sign over your economic impact payment check to them.
- Ask by phone, email, text or social media for verification of personal and/or banking information saying that the information is needed to receive or speed up your economic impact payment.
- Suggest you can get a tax refund or economic impact payment faster by working on your behalf. This scam could be conducted by social media or even in person.
Tools to help you manage your money
Use mobile and online banking for fast and easy access to managing your money.
- Online banking and mobile banking: Check balances, pay bills, transfer money and more.
- Mobile check deposit: Take a quick photo of a check to make a deposit in our app.
- Zelle®: Send money and receive money with your friends and family! Fast, safe and easy right from the Provident Bank app.
Learn More about online and mobile banking:
For any questions you might have, please visit our FAQs page.
