Under the Rescue Plan Act, the payment amount is based on 2019 income, or 2020 income if the 2020 tax return has been filed. Under the CARES Act and the Appropriations Act, the payments are sent automatically to any eligible individual who filed a 2019 Federal income tax return. Who is Eligible?Īll three laws generally say that payments will be made to “eligible individuals.” An eligible individual is generally any U.S. In this article discuss how estates and trusts should handle these stimulus payments.
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One very common question is how to deal with the payments that are made to trusts and deceased persons. This is the third round of stimulus payments, with the first two rounds coming from the March 2020 Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) and the December 2020 Consolidated Appropriations Act (the “Appropriations Act”). Among many other things, The Rescue Plan Act provides “recovery rebates”, which are commonly referred to as economic impact payments (EIPs) or stimulus payments, to many taxpayers. On March 11, 2021, President Biden signed into law the American Rescue Plan Act of 2021 (the “Rescue Plan Act”). Irs.Many people are continuing to struggle to make ends meet due to the COVID-19 pandemic and related business shut-downs. Q: Has my Economic Impact (stimulus) Payment posted to my prepaid Card?Ī: Cardholders who have a Pathward-issued prepaid card that is not an EIP Card should contact the Customer Service number or visit the website on the back of their card for questions about their card, card transactions, card account balance, posted payments, replacement requests or other customer service issues. Any questions about the method of disbursement or to make changes to your banking information for stimulus/EIP payments should be directed to the IRS, the entity administering that program for the U.S. Can you help me with that?Ī: Your Card servicer, tax preparer and Pathward are unable to make updates or changes to the method of disbursement and banking information already on file with the IRS. Q: I need to make changes to my banking information on file with the IRS. Either way, the IRS urges people to carefully watch their mail for either of these payment types. If you are eligible for a third EIP Payment, you may be receiving a new EIP Card or you may be receiving a paper check.
If you received an EIP Card for the first and/or second EIP payment in 2020/2021, that Card will not be reloaded with your third EIP payment. Q: If I received my second Economic Impact (stimulus) payment on an EIP Card, will my third payment be deposited on the same card?Ī: No. If this applies to you, IRS urges people to carefully watch their mail for either of these payment types. Q: Am I getting a paper check or an EIP Card?Ī: If the IRS does not have routing and account information for you for a direct deposit, you will be sent either a check or debit card in the form of an EIP Card. Irs.gov/EIP for general questions on Economic Impact Payments Get My Payment (GMP) on the IRS.gov website
Any questions about EIP (stimulus) payments for individuals should be directed to the IRS.įor questions about Economic Impact (Stimulus) Payments: Q: Am I eligible for getting an Economic Impact (Stimulus) Payment? How much will I be getting? How will it be sent?Ī: Your card servicer, tax preparer and Pathward are unable to answer these questions. You can also visit for Frequently Asked Questions The IRS updates its Get My Payment (GMP) tool at IRS.gov daily to provide timely information that helps individuals more clearly understand the status of their EIP. If you received an EIP Card, please visit for more information or call the number on the back of your Card for assistanceįor general questions about Economic Impact (Stimulus) Payments you can visit irs.gov/EIP As a result of the “American Rescue Plan Act of 2021," the IRS issued a third round of Economic Impact Payments (EIP) directly to individuals.
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