Information on protecting you from COVID-19 related scams
With every passing day, the news on COVID-19 vaccine distribution seems to change. One reason is that distribution varies by state and territory. And scammers, always at the ready, are taking advantage of the confusion. Click Here for tips from the Federal Trade Commission to help you avoid a vaccine-related scam or Learn More about protecting yourself from identity theft, and recovering if it happens to you.
March 12, 2021
Millions of Americans will be receiving another stimulus check from the federal government as part of the 2021 American Rescue Plan to help with economic difficulties caused by the COVID-19 pandemic. We know you might have questions, and we are ready to help.
Who will receive a stimulus payment?
Individuals earning $75,000 or less will receive a new payment of $1,400, as will heads of households earning up to $112,500. Couples earning $150,000 or less will get $2,800. Payments to those earning more than those amounts will decrease and cut off completely for individuals earning more than $80,000, couples earning more than $160,000, and single parents making more than $120,000. Qualifying parents of children will receive an extra $1,400 per child. That means a married couple with two dependent children may receive $5,600. Also, for this round, dependents now include 17-year-olds, as well as college students, older adults and children of all ages with certain disabilities who are claimed on tax returns.
The payments will be based on information from a taxpayer’s 2019 return, or their 2020 return if it has already been filed.
How will payments be received?
- Direct Deposit – If they have the information on file from your tax return, the IRS will directly deposit the money into your bank account.
- Debit Card – Some people will receive a preloaded debit card in the mail, which will then need to be activated before use.
- Paper Check – Some will receive a paper check in the mail.
Here to Help
We know the stimulus payments are very important, and we're here to help you in any way we can.
Contact Your Local Branch Contact a Banker
December 30, 2020
As with the economic impact payments (EIPs) issued under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, the Internal Revenue Service (IRS) will work to deliver these additional EIPs quickly in the form of advance payments. The IRS will endeavor to make automatic payments in late 2020/early 2021 to eligible individuals who (a) filed a federal income tax return for 2019, (b) registered for the first round of payments through the IRS’s non-filer portal, or (c) receive Social Security, Supplemental Security Income (SSI), Railroad Retirement Board (RRB), or Veterans Affairs (VA) benefits. These payments will be based on payment or address information already on file with the IRS, Social Security Administration, RRB, or VA.
Electronic distributions will automatically be made to an account the payee authorized on January 1, 2019 or later. Individuals who do not receive an advance payment automatically will be able to claim a credit for their EIP amount on their 2020 federal income tax return.
MidCountry Bank recognizes that our communities are stressed by the impact of Coronavirus, and we are here to help. For a limited time, MidCountry is offering payment deferrals at no charge to eligible loan customers to ease the burden.
Skip-A-Pay Eligibility Requirements
- Available exclusively for fixed-rate Installment loans.
- Payment deferral start date must be not less than 5 business days from date submitted.
- Up to three consecutive payments may be deferred during a twelve month period.
- Loan payments must be current at time of request.
Home Equity Loans and Lines of Credit
If you have a loan secured by real-estate, loan relief may be available for you as well. Please ask your banker for details.
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