The Internal Revenue Service ("IRS") and the Treasury Department ("Treasury") are beginning to send nearly 4 million economic impact payments by prepaid debit card ("EIP Card"), instead of by paper check or direct deposit.
The Treasury said recipients may use EIP Cards to make purchases, get cash from in-network ATMs, and transfer funds to their personal bank account without incurring any fees. EIP Cards are being sent to qualified individuals who don’t have bank information on file with the IRS, and whose tax return was processed by either the Andover or Austin IRS Service Center.
The EIP Card is part of the Treasury’s larger U.S. Debit Card program, which offers prepaid debit card services to federal agencies for electronic delivery of non-benefit payments. MetaBank was picked as the Treasury’s financial agent for the U.S. Debit Card program in 2016, after a competitive selection process by the Treasury’s Bureau of the Fiscal Service.
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Category: COVID-19 Relief Law
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