“When looking for funding, don’t just look for cash. Look for the right people.”
Many questions are arising about receiving Covid-19 loans, funding, and especially, stimulus checks. If you filed your tax return and have set up your direct deposit previously, your stimulus check will be directly deposited into your bank account. Many people around the US have begun receiving their checks, however if you do not have your bank account on file, you will need to wait a little longer.
For those who usually have their tax return reimbursements mailed to them, this will be the method those individuals will receive their stimulus checks. Now, if you have changed your bank account, or your address, there are a few things you can do immediately so you can avoid longer waiting periods. For example, it is recommended to update any new details with the IRS. This could be your new bank account details or your new address.
Everyone wants to get their stimulus check as soon as possible. To expedite the process, the IRS has been working on updating their website to make it easier for Americans to go onto their site and make any amendments to basic personal information. Individuals who have filed their tax return in both 2018 and 2019, will be eligible to receive $1200. Couples will be receiving, $2400 and $500 for each qualified child.
If you already have an account set up with the IRS, with login information, there is an option to change your details on their platform. Another option is you can file an 8822 IRS form, where you can update your new address details.
Once you have received your allocated form of funding, it’s important to know the best way complete your disbursements, so you will not be required to pay back the money. ERPS Group can help to forecast, complete a beneficial cash analysis and payroll calculation, so you can ensure your funding will be fully forgiven.
Interested in learning more? Ella Rivkin is right here to guide you through this uncertain time and keep you updated as we continue through this together. She will walk you through every stage of the process and will share the most up to date, valuable knowledge and solutions at hand. If you have any questions or want to learn more about the current situation, Contact Ella today at (347) 462-2778 and you can set up a time to speak with one of our financial experts.
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