Coronavirus

Checks from the Government Might be Coming. Scams Definitely Are.

Government relief checks are coming soon. The Federal Trade Commission has issued a warning to Americans to be on the watch for scams as they send out COVID-19 relief checks.

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Adam Cecil

Published March 23rd, 2020

UPDATE (April 15, 2020): Stimulus checks are on their way to millions of Americans. Find out more about how to get your stimulus check and read up on how to avoid new scams.

ORIGINAL ARTICLE:

The Federal Trade Commission has issued a warning to Americans to be on the watch for an increase in scams specifically related to reports of the government sending out COVID-19 relief checks.

As of today, details of any kind of government relief payment are still being worked out. However, there are several things that will remain constant, as per the FTC:

  1. The government will never require that you pay anything upfront in order to receive this money.
  2. The government will never call you to ask for financial information such as a bank account, credit card number, or for your Social Security number.
  3. These checks are not yet reality, and anyone who claims to be able to get you the money now is a scammer.

As we noted above, these checks are not yet reality, but in all likelihood, the government would use payment information that they already have in order to send out money. This includes people who already receive benefits from the government (like folks on Social Security) and people who filed their tax returns this year and last year.

If the government does need information from you, you will likely receive a letter or other communication in the mail. If someone from the IRS calls you, hang up, find the official phone number online, and call them back to confirm it was them.

Received a call from a scammer? Report them to the FTC online.

We’ll be posting more updates on government benefits, potential scams, and how the COVID-19 pandemic is affecting retirement right here on Retirable.com. Follow us on Facebook and Twitter to get future updates.

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Adam Cecil

Adam Cecil

Adam Cecil is a freelance writer who has produced financial content for Retirable, Policygenius, and Donational, In his free time, he writes the weekly pop culture newsletter Night Water and produces independent fiction podcasts.

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Coronavirus

Checks from the Government Might be Coming. Scams Definitely Are.

Government relief checks are coming soon. The Federal Trade Commission has issued a warning to Americans to be on the watch for scams as they send out COVID-19 relief checks.

Adam ProfilePic

Adam Cecil

Published March 23rd, 2020

UPDATE (April 15, 2020): Stimulus checks are on their way to millions of Americans. Find out more about how to get your stimulus check and read up on how to avoid new scams.

ORIGINAL ARTICLE:

The Federal Trade Commission has issued a warning to Americans to be on the watch for an increase in scams specifically related to reports of the government sending out COVID-19 relief checks.

As of today, details of any kind of government relief payment are still being worked out. However, there are several things that will remain constant, as per the FTC:

  1. The government will never require that you pay anything upfront in order to receive this money.
  2. The government will never call you to ask for financial information such as a bank account, credit card number, or for your Social Security number.
  3. These checks are not yet reality, and anyone who claims to be able to get you the money now is a scammer.

As we noted above, these checks are not yet reality, but in all likelihood, the government would use payment information that they already have in order to send out money. This includes people who already receive benefits from the government (like folks on Social Security) and people who filed their tax returns this year and last year.

If the government does need information from you, you will likely receive a letter or other communication in the mail. If someone from the IRS calls you, hang up, find the official phone number online, and call them back to confirm it was them.

Received a call from a scammer? Report them to the FTC online.

We’ll be posting more updates on government benefits, potential scams, and how the COVID-19 pandemic is affecting retirement right here on Retirable.com. Follow us on Facebook and Twitter to get future updates.

Plan for a better future

Get an affordable, professionally prepared retirement plan today.
Income and expenses charts

Share this advice


Adam Cecil

Adam Cecil

Adam Cecil is a freelance writer who has produced financial content for Retirable, Policygenius, and Donational, In his free time, he writes the weekly pop culture newsletter Night Water and produces independent fiction podcasts.

Plan for a better future

Get an affordable, professionally prepared retirement plan today.

personal-plan

Plan for a better future

Get an affordable, professionally prepared retirement plan today.

personal-plan

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Investing involves risk and past performance is not indicative of future results. Increased spending increases the risk of depleting your savings and performance is not guaranteed. It is very important to do your own analysis before making any decisions based on your own personal circumstances.

For more information, see our Form ADV Part II and other disclosures.

© 2022 Retirable Inc. All rights reserved.

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Legal

Retirable, Inc. ('Retirable') is an SEC registered investment advisor. By using this website, you accept our Terms and Conditions and Privacy Policy. Retirable provides holistic retirement planning services, which are available only to residents of the United States. You must be at least 18 years of age to become a Retirable Premium user. Nothing on this website should be considered an offer, solicitation of an offer, or advice to buy or sell securities.

Investing involves risk and past performance is not indicative of future results. Increased spending increases the risk of depleting your savings and performance is not guaranteed. It is very important to do your own analysis before making any decisions based on your own personal circumstances.

For more information, see our Form ADV Part II and other disclosures.

© 2022 Retirable Inc. All rights reserved.

We're accredited and certified by