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Tax News: IRS Issues Second Round of Stimulus Payments


Blog Category:
1/11/2021
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Starting last week, the Treasury Department and the Internal Revenue Service ("IRS") are sending approximately 8 million second Economic Impact Payments (EIPs) by prepaid debit card.

These EIP Cards follow the millions of payments already made by direct deposit and the ongoing mailing of paper checks that are delivering the second round of Economic Impact Payments as rapidly as possible.

If Get My Payment on IRS.gov shows a date that your payment was mailed, watch your mail for either a paper check or debit card. To speed delivery of the payments to reach as many people as soon as possible the Treasury's Bureau of Fiscal Service is sending payments out by prepaid debit card.

Eligible people who don't receive a direct deposit to watch their mail carefully during this period. The prepaid debit card, called the Economic Impact Payment card, is sponsored by the Bureau of the Fiscal Service and is issued by Treasury's financial agent, MetaBank, N.A. The IRS does not determine who receives a prepaid debit card.

Taxpayers should note that the form of payment for the second mailed EIP may be different than the first mailed EIP. Some people who received a paper check last time might receive a prepaid debit card this time, and some people who received a prepaid debit card last time may receive a paper check.

For questions about the new Stimulus bill, contact the Attorneys at Fazzio Law Offices, we're in your corner! Reference photos below (credit of IRS.gov).

 



Category: COVID-19 Relief Law


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