We at Century Bank and Trust are HERE for YOU.
Century Bank and Trust will be instituting continued preventative measures at all office locations by temporarily limiting our lobby access to appointment only effective March 19, 2020. All drive-thru locations will be available at full service as well as our other banking applications during this time.
Letter to Customers
Small Business Relief
Mortgage and Consumer Relief
Economic Impact Payments -Stimulus
The CARES Act outlines the parameters of who is eligible to receive a payment. The Internal Revenue Service is the agency responsible for determining eligibility. In general, single adults with an adjusted gross income of $75,000 or less will get $1,200. Married couples earning a combined adjusted gross income of $150,000 or less will receive a total of $2,400. Individual and married taxpayers earning over $75,000 and $150,000 respectively will get reduced payments with full phase-outs at $99,000 and $198,000. There are additional $500 payments for dependent children.
For complete eligibility information please visit the IRS website.
For more information please see the Economic Impact Payment FAQ for Consumers
Get My Payment Tool
Use the "Get My Payment" application to:
- Check your payment status
- Confirm your payment type: direct deposit or by mail?
- Enter your bank account information for direct deposit if:
- We don't have your direct deposit information and
- We haven't scheduled your payment yet
The IRS launched a web tools for individuals who do not normally file a tax return to input their payment information. The tool is for eligible U.S. citizens or permanent residents who:
- Had gross income that did not exceed $12,200 ($24,400 for married couples) for 2019
- We’re not otherwise required to file a federal income tax return for 2019, and didn't plan to
You can provide the necessary information to the IRS easily and quickly for no fee through Non-Filers: Enter Payment Info. The IRS will use this information to determine your eligibility and payment amount and send you an Economic Impact Payment. After providing this information you won’t need to take any additional action. Access this tool here: https://www.irs.gov/coronavirus/non-filers-enter-payment-info-here
What happens when an Economic Impact Payment credit is for a deceased individual (updated May 7th)?
The IRS updated its position on payments made to deceased people (May 7th).
The new guidance states that deceased people do not qualify for an EIP. Therefore, the recipient is responsible for returning the funds to the IRS. If the payment was a paper check, and the check has not been cashed:
- Write “Void” in the endorsement section on the back of the check.
- Mail the voided Treasury check immediately to the appropriate IRS location. For Michigan residents, the address is:
- Kansas City Refund Inquiry Unit
333 W Pershing Rd
Mail Stop 6800, N-2
Kansas City, MO 64108
- Kansas City Refund Inquiry Unit
- Include a note stating the reason for returning the check.
- Do not staple, bend, or paper clip the check.
If the payment was made by ACH or was a paper check that has already been cashed:
· Submit a personal check, money order, etc., immediately to the appropriate IRS location.
· Make the check/money order payable to “U.S. Treasury” and write 2020EIP with the taxpayer identification number (social security number or individual taxpayer identification number) of the recipient of the check.
- Include a brief explanation of the reason for returning the EIP.
Recipients should return the entire payment unless it was made to joint filers and one spouse had not died before receipt of the payment. In that case, the spouse must only return the portion made to the decedent. This amount will be $1,200 unless adjusted gross income exceeded $150,000.
With the roll out of economic impact payments, there’s an increased risk of scams. It’s important to stay vigilant and aware of unsolicited communications asking for your personal or private information – through mail, email, phone call, text, social media or websites – that:
- Ask you to verify your SSN, bank account, or credit card information
- Suggest that you can get a faster payment if they fill out information on your behalf or if you sign over your check to them
- Send you a bogus check, perhaps in an odd amount, and then ask you to call a number or verify information online in order to cash that check
Be aware that scammers are also able to replicate a government agency’s name and phone number on caller ID. It’s important to remember that a government agency will never ask you for your personal information or threaten your benefits.
You can also learn more about coronavirus-related scams.
Mobile and Online Banking
The following sites can be a resource to find the latest information on the Coronavirus (COVID-19) situation:
- FDIC FAQ's for Consumers Affected by Coronavirus
- IRS information for Consumers https://www.irs.gov/coronavirus
- Center For Disease Control (CDC) https://www.cdc.gov/coronavirus/2019-ncov/index.html
- World Health Organization (WHO) https://www.who.int/emergencies/diseases/novel-coronavirus-2019
- Michigan's Official State Website https://www.michigan.gov/coronavirus/