COVID-19 Economic Impact Payments
As part of the CARES Act recently passed by Congress, you may be entitled to a COVID-19 stimulus check (officially known as an Economic Impact Payment). The Treasury Department and the Internal Revenue Service began distributing Economic Impact Payments to eligible individuals and households in mid-April.
How the IRS can Help
- What is the status of my payment?
- Will my stimulus payment be direct-deposited or mailed?
- Do I need to do anything to get it?
- Am I eligible for a stimulus payment?
- The IRS Economic Impact Payment Information Center website, has detailed information on eligibility, requesting, calculating and receiving payments.
- When should I expect to see it in my Bank of Hope account?
- The first IRS direct deposit payments arrived in bank accounts on April 15, 2020. If you received a direct deposit payment, you can see it in your recent transactions on the Bank of Hope online banking site or mobile banking app. The IRS said it expected to start mailing checks later in April. All payments will be in waves and continue over several weeks.
- How will I know when my payment has been direct deposited into my account?
- You can check your transactions on the Bank of Hope online banking site or mobile banking app.
*Due to heavy call volumes, there may be a longer wait time to speak to a representative. We thank you for your patience during this time while we work diligently to respond to all inquiries.
With HOPE, we will get through this Together.