Consumer tip. Stimulus 2.0 Basics to Avoid Scammers

January 6, 2021

Consumer tip

Stimulus 2.0 basics to avoid scammers

Congress recently approved a second round of pandemic-related stimulus payments, which reportedly have already started to be received by consumers. This round the payments are capped at up to $600 per adult versus the prior maximum $2,000 per adult payment. Like the prior round of stimulus, payments will be either direct deposited into bank accounts or mailed by paper check. Unfortunately, as with the first round of payments, expect that there will be scammers looking to cheat you out of your stimulus money.

Here are three basic tips to keep these wolves at bay.

• You are not required to pay anything up front as a condition of receiving your payment.

• The government will not contact you for personal information to process your payment. They already have your information.

• Don’t trust third parties who claim they can get you your payment faster. They can’t.