As the Coronavirus takes a growing toll on people’s pocketbooks, there are reports that the government will soon be sending money by check or direct deposit to each of us. The details are still being worked out, but there are a few really important things to know, no matter what this looks like.
1. The government will not ask you to pay anything up front to get this money. No fees. No charges. No nothing.
2. The government will not call to ask for your Social Security number, bank account, or credit card number. Anyone who does is a scammer.
3. These reports of checks aren’t yet a reality. Anyone who tells you they can get you the money now is a scammer.
Look, normally we’d wait to know what the payment plan looks like before we put out a message like this. But these aren’t normal times. And we predict that the scammers are gearing up to take advantage of this.
So, remember: no matter what this payment winds up being, only scammers will ask you to pay to get it. If you spot one of these scams, please tell the Federal Trade Commission: www.ftc.gov/complaint. We’re doing our best to stop these scammers in their tracks, and your report will help.
Keep up to date with the latest Coronavirus-related scams at www.ftc.gov/coronavirus or by signing up to get these consumer alerts.
Watch these videos for more tips on how to avoid ecomonic impact payment scams:
Updated link added on April 21, 2020.
In reply to I'm on social security I get by Heavenlyblessed
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Please go to irs.gov/coronavirus for updates and information about how the IRS is going to get payments to people.
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Please check the IRS questions and answers at irs.gov/coronavirus/economic-impact-payment-information-center.
The IRS website says: "A Payment will not affect your income for purposes of determining eligibility for federal government assistance or benefit programs."
"The Payment is not income and you will not owe tax on your Payment. It will not reduce your refund or increase the amount you owe when you file your 2020 tax return next year."
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