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The Treasury and IRS are sending approximately 8 million second Economic Impact Payments (EIPs) by prepaid debit card

According to the IRS's website, the Tresury Department and the Internal Revenue Service are sending approximately 8 million second Economic Impact Payments by prepaid debit card. However, the IRS has a link for those of you that can track when you debit card or paper check was mailed. 

Here's that link: GET MY PAYMENT

The IRS states on their website: 

"IRS and Treasury urge 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"

To learn more about EIP cards - you should check this secure link: EIP CARD INFORMATION

As noted on the IRS website: 

"EIP Cards are safe, convenient and secure. EIP Card recipients can make purchases online or in stores anywhere Visa® Debit Cards are accepted. They can get cash from domestic in-network ATMs, transfer funds to a personal bank account and obtain a replacement EIP Card if needed without incurring any fees. They can also check their card balance online, through a mobile app or by phone without incurring fees. The EIP Card provides consumer protections including certain protections against fraud, loss and other errors"

"EIP Cards are being sent in a white envelope that prominently displays the U.S. Department of the Treasury seal. The EIP Card has the Visa name on the front of the Card and the issuing bank name, MetaBank®, N.A. on the back of the card. Each mailing will include instructions on how to securely activate and use the EIP Card. 

The website clearly shows what the envelope looks like - so keep a look out in the event your stimulus is not going to be direct deposited! 

As always, please reach out to us for expert advice should you need more information.