With the announcement last week from the Internal Revenue Service that the federal government is sending out nearly 2 million more economic impact payments to Americans, some may be questioning what the envelopes holding their $1,400 checks or prepaid debate cards look like.
Since the passage of Democratic President Joe Biden’s American Rescue Plan and the subsequent rollout of the stimulus checks, the IRS has noted that the form of payment for the third economic impact payment may be different than that of earlier ones.
More people are receiving direct deposits to their bank accounts per the stimulus package. Still, a significant number of other Americans are getting their payments in the mail, either as a paper check or as a prepaid EIP debit card.
The IRS and the U.S. Department of the Treasury are therefore urging people who are eligible for the stimulus payments and who have not received a direct deposit to their bank accounts to watch their mail carefully. The federal government has shared sample images of what the envelopes, checks and EIP cards looks like.
“Paper checks will arrive by mail in a white envelope from the U.S. Department of the Treasury,” the IRS described. “For those taxpayers who received their tax refund by mail, this paper check will look similar, but will be labeled as an ‘Economic Impact Payment’ in the memo field.”
Like the paper checks, the EIP cards will be mailed to people at their most recent mailing address filed with the IRS. The prepaid debit card will arrive in a white envelope that prominently displays the U.S. Treasury seal and includes “Economic Impact Payment Card” in the return address.
The envelope states it contains “important information about your Economic Impact Payment.” The Visa name will appear on the front of the card, and the back of the card has the name of the issuing bank, MetaBank, N.A. Information included within the envelope will explain that the card is an EIP card.
Last Thursday, the IRS, the Department of the Treasury and Bureau of the Fiscal Service announced they are disbursing the sixth batch of economic impact payments to Americans, totaling 2 million more checks and bringing the total amount of stimulus aid from the American Rescue Plan to $379-plus billion, authorities said.
This round of payments is made up of roughly 900,000 direct deposit payments worth close to $1.5 billion and nearly 1.1 million paper checks worth around $1.8 billion, according to a statement from the IRS.
The IRS said it will continue to send out stimulus checks on weekly basis, disbursing money for eligible individuals who previously haven’t had information on file to be sent the funds but who recently submitted a tax return.
The federal government has repeatedly urged people who don’t normally file a tax return and haven’t received a stimulus check to submit this year’s return to get all the benefits they’re entitled, including the recovery rebate, child tax and earned income credits.
“Filing a 2020 tax return will also assist the IRS in determining whether someone is eligible for an advance payment of the 2021 Child Tax Credit, which will begin to be disbursed this summer,” the IRS noted. “For example, some federal benefits recipients may need to file a 2020 tax return — even if they don’t usually file — to provide information the IRS needs to send payments for a qualifying dependent.”
“Eligible individuals in this group should file a 2020 tax return as quickly as possible to be considered for an additional payment for their qualifying dependents,” the agency added.
Under the $1.9 trillion American Rescue Plan, $1,400 checks were sent out to adults who earn less than $75,000 and couples who make less than $150,000, with $1,400 allocated for dependents. The payments begin to phase at incomes of $75,000 cuts of entirely at $80,000 for individuals and $160,000 for couples.
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April 27, 2021 at 12:46AM
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Stimulus checks: As people still wait for $1,400 payments from IRS in the mail, here’s how to spot them - MassLive.com
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