Amia Financial Group

Update Concerning Economic Impact Payments (EIP) April 20, 2020 We were very concerned to learn over the weekend that the messaging on the Get My Payment website is now telling customers their payments are scheduled to be distributed back to the same temporary refund transfer accounts at the end of this week (April 24), with no option to take any action. This is NOT the direction that the IRS has given us. We believe the messaging was posted in error and we have communicated ...as such to the IRS. We, along with other banks in the industry, are trying to get clarification from the IRS, and requesting changes are made to this update as soon as possible. We will update our customers and partners as soon as we get clarification from the IRS. Here is the most recent language on the IRS site regarding the returned direct deposits being redistributed as a check: Source: IRS Economic Impact Payment Information Center: Q30. I requested a direct deposit of my Payment. Why are you mailing it to me as a check? A30. It is possible we do not have the correct bank account information for you, or your financial institution rejected the direct deposit. In either case, your Payment will be mailed to the address we have on file for you. Last week, the IRS erroneously sent a portion of the Economic Impact Payments (EIPs) to temporary refund transfer accounts. These accounts only process standard tax refunds owed to taxpayers as a result of a tax filing. As we are required, and by request of the IRS, any EIPs sent to these accounts are being immediately sent back to the IRS so that the IRS can distribute directly to consumers. We are deeply concerned that this error will delay consumers from receiving EIP payments during this difficult time. The IRS has verbally committed to all refund transfer banks that they will not be sending any more EIPs to temporary refund transfer accounts going forward. Resources: The IRS is maintaining two pages with answers to EIP questions. We have been told these sites will be updated on a regular basis. Get My Payment Frequently Asked Questions Economic Impact Payment Information Center

Tax preparation, bookkeeping, payroll done right #taxesdonerigjt, #moneyinthebag