At Pioneer Bank we care for our Team Members and customers safety, health, and financial security. We want to share with you a significant update concerning the CARES (Coronavirus Aid, Relief and Economic Security) Act. Pioneer Bank does not know when you will receive your check. The United States Federal Government will be either sending checks or electronically depositing payments to those eligible taxpayers who filed a tax return for either 2018 or 2019. You can expect a payment of up to $1,200 for individuals or $2,400 for married couples. Parents also receive $500 for each qualifying child. Non-filers can also apply for an Economic Impact Payment.
Eligible retirees and recipients of Social Security, Railroad Retirement, disability or veterans’ benefits as well as taxpayers who do not make enough money to normally have to file a tax return will receive a payment. This also includes those who have no income, as well as those whose income comes entirely from certain benefit programs, such as Supplemental Security Income benefits.
Retirees who receive either Social Security retirement or Railroad Retirement benefits will also receive payments automatically.
How will I receive my payment?
Most people will get their payments automatically and will not need to take any action. Social Security beneficiaries who are not typically required to file tax returns will not need to file to receive a payment. Instead, payments will be automatically deposited into their bank accounts. Please do not call the IRS about this. If you qualify and have filed a 2018 or 2019 tax return, your payment will be direct deposited into the account you used for that return or mailed to the address you used.
The payments have begun in April and will be processed in waves, so if you have not received yours and your neighbor has, please be patient. You can also visit the IRS website below to be sure you are eligible.
The IRS is constantly updating their site with information. Please visit to learn more about the CARES Act:
