We want to provide the latest information from the Internal Revenue Service (IRS) regarding Economic Impact Payments. Here are a few important points:
- Visit IRS.gov for the most current information
on the second round of Economic Impact Payments rather than calling the
agency, financial institutions or tax software providers.
- Direct deposit payments
may take several days to post to individual accounts. Some Americans
may have seen the direct deposit payments as pending or as provisional
payments in their accounts before the scheduled payment date of January
4, 2021, which is the official date funds were available.
- Paper checks will continue to be sent through January.
Some people will be mailed debit cards in January, and the IRS urges
people to carefully check their mail. Mailed payments will require more
processing and mailing time.
- The IRS emphasizes that there is no action required by eligible individuals to receive this payment. Payments are automatic; there is no need to contact financial institutions or the IRS with payment timing questions.