The Internal Revenue Service (IRS) issued the second round of Economic Impact Payments to taxpayers this Wednesday. Payments were scheduled to be made by direct deposit, paper check or prepaid debit card, the IRS said. For taxpayers who receive direct deposit, this batch of payments began processing on Friday and will have an official payment date of Wednesday, March 24, and some people will see them earlier in their accounts, potentially as provisional or pending deposits.
Please note that payments would be processed from that date onwards, so taxpayers who do not receive direct deposit by March 24 should keep an eye on the mail in the next few weeks to see if there is a paper check or card. prepaid debit, known as Economic Impact, payment card or EIP card. Most people don't need to take any action to get this round of Economic Impact Payments (EIPs). People can check the Get My Payment tool on IRS.gov to see if their payment has been scheduled.
"The IRS continues to send out the third round of stimulus payments in record time," said IRS Commissioner Chuck Rettig. "Since this new set of payments will include more payments by mail, we urge people to carefully watch their mail for a check or debit card in the coming weeks." Following the enactment of the American Rescue Plan Act on March 11, the IRS moved quickly to begin delivering the third round of Economic Impact Payments. The IRS began the first batch of stimulus payments of $ 1,400, primarily by direct deposit, on March 12.
This Monday marks the second batch of payments, with additional payments anticipated weekly in the future. The vast majority of taxpayers who receive EIP will receive it by direct deposit. Additionally, the IRS and the Office of Tax Service leveraged data in their systems to convert many payments into direct deposits that would otherwise have been sent as paper checks or debit cards. This sped up the disbursement of these payments by weeks.
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