The Internal Revenue Service will deliver the Economic Impact Payments of nearly four million people by by prepaid debit card instead of paper check.
According to the official website for the cards, this method will be used to deliver the payments of taxpayers whose bank details the IRS doesn’t have.
This Is What Your Debit Card Will Allow You to Do
If you receive your Economic Impact Payment by prepaid card, you will get some benefits that include:
- Making purchases online or at any retail location where Visa payments are accepted
- Getting cash from in-network ATMs
- Transferring funds to your personal bank account.
- Checking you balance card by mobile app or by phone.
- Enjoying the same consumer protections available to traditional bank account owners, such as protection against fraud and loss.
The prepaid cards arrive in a plain envelope from Money Network Card Holder Services. The Visa name appears on the front of the card, while the back of the card has the name of the Issuing bank, MetaBank®, N.A. Information included with the card specifies that the card is an Economic Impact Payment.
Users who receive their Economic Impact Payments by prepaid card will have to activate their cards calling the number 1.800.240.8100 and validating their identity providing at least their name, address and social security number.
As of this moment you cannot request the IRS to send Economic Impact Payment as a debit card. For more information about the Economic Impact Payment prepaid cards, visit www.eipcard.com.
Get Advice From the Experts
As you can see, the IRS’ response to COVID-19 changes constantly, so it’s important to stay updated. You can check the IRS website or this blog. It’s also a good idea to get advice from a reliable, experienced source.
Our knowledgeable tax experts at JT Tax Services will help you so you can take advantage of all the government relief initiatives you are eligible for.
At JT Tax Services we have the experience, the knowledge and the drive to assist you. With our advice, you can file your taxes with the peace of mind that comes with knowing that you are limiting your liability while staying compliant with federal and state tax regulations.