There’s a lot of misinformation and scams out there about the COVID-19 stimulus payments. Don’t fall for these myths!
Myth #1: You have to sign up for the stimulus check
You do NOT have to sign up! You probably automatically qualify, unless you fall into a rare special category (people who did NOT file taxes in 2018 or 2019 and other rare situations).
Myth #2: I have to pay taxes on the stimulus or pay the money back
The stimulus check is not taxed, and you do not have to pay the money back - even when tax time comes!
Myth #3: It’s going to take months to get my check
If the IRS has your bank account information, you should have ALREADY received the stimulus payment! If not, you’ll be getting a paper check as soon as May 2020. If you want to give them your info to get the money quicker, use the IRS Economic Impact Payment tool!
Myth #4: I have to pay a fee to get the payment
Watch out - this is a SCAM! It especially targets the elderly. The IRS will almost NEVER call or e-mail you about ANYTHING unless there’s a special circumstance. If you get a call or e-mail asking for payment for the stimulus, it’s a scam! Make sure your family and friends know.