Economic Impact Payment Info

Latest Updates on Stimulus Payments

Last updated: Mar. 29, 2021 8:42 am

Third Economic Impact Payment

The American Rescue Plan was signed into law on March 11th, and includes a third round of Economic Impact Payments (EIPs) which will be delivered directly to taxpayers.

IRS indicates payments will not be issued to TPG

The first stimulus payments are expected to reach taxpayers' bank accounts starting March 17, and the IRS expects to deliver most stimulus payments within the next 3 weeks.

The IRS will issue the 3rd stimulus payment to the same bank account used for a taxpayer's 2nd stimulus payment. Unbanked taxpayers may receive their 3rd stimulus payment by paper check mailed to the last known address on file with the IRS, or on an Economic Impact Payment Card which is a prepaid debit card issued by US Treasury.

The IRS Get My Payment tool is scheduled to be updated on March 15. The tool will provide EIP status, but will not give taxpayers the ability to update their bank account information.

Since TPG does not have any visibility into the status, amount or timing of EIP stimulus payments we are unable to answer any questions regarding these payments. Taxpayers are advised to visit the IRS Economic Impact Payments page or IRS Fact Sheet for more information.

This page will be updated as more information is available. Visit the IRS Coronavirus Tax Relief page or the IRS Economic Impact Payment Information page for the latest information. The IRS has also created a Recovery Rebate Credit FAQ page with answers to questions about claiming the Recovery Rebate Credit.The IRS is updating the FAQs on these pages regularly.

Answers to Common Questions

The IRS will issue direct deposits to taxpayers that requested a direct deposit disbursement or applied for a new debit card when they filed their return. 

Taxpayers that requested a check printed from their tax professional's office or Walmart Direct2Cash may receive their 3rd stimulus payment by paper check mailed to the last known address on file with the IRS, or on an Economic Impact Payment Card which is a prepaid debit card issued by US Treasury.

Visit the IRS Get My Payment FAQs page for more details.

Visit the IRS Economic Impact Payment Information Center for more details about stimulus payment eligibility, amounts and more.

Visit the IRS Get My Payment page for more information about the status of payments and the date a payment is scheduled to be direct deposited or mailed as a check or Economic Impact Payment Card.

The first stimulus payments are expected to reach taxpayers' bank accounts by March 17, and the IRS expects to deliver most stimulus payments by early April.

 

Be on the alert for Economic Impact Payment scams

Scammers and identity thieves are already taking the opportunity to prey upon taxpayers with phone calls, text messages and emails. Here are some answers to common questions related to fraud. Victims or targets of Economic Impact Payment scams should report it immediately to the Federal Trade Commission at www.ftc.gov/complaint.

January 13, 2021 IRS news release about COVID-19 scams

No, the IRS and other government agencies will never call asking for your Social Security Number (SSN) or banking information. Do not provide your SSN or bank account information to anyone calling you and claiming to be from the IRS or another government agency.

No, please beware of phishing schemes from identity thieves claiming to be the IRS or another government agency. Do not click on a link or email if you do not recognize who it is from. The IRS will never text or email you asking to provide your bank account information or verify your bank account information.

No, please beware of phishing schemes from identity thieves claiming to be the IRS or another government agency. Taxpayers that filed their 2019 tax return are not required to sign up or pay a fee in order to receive an Economic Impact Payment. Please visit the IRS website for more details.

The IRS is required to mail a written notice to taxpayers no later than 15 days after distributing an Economic Impact Payment.  This notice to the taxpayer will indicate the payment amount, whether the payment was mailed or direct deposited, and a phone number to call if the taxpayer did not receive the payment. The payment should be received  before any communication from the IRS is received by mail.

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