Consumer

/

Home & Leisure

Susan Tompor: Paper checks, prepaid Visa cards going out in mail; more direct deposits coming March 24

Susan Tompor, Detroit Free Press on

Published in Home and Consumer News

Watch your mail this week, as another batch of stimulus money is being sent out soon.

The Internal Revenue Service announced Monday that paper checks and prepaid Visa debit cards, issued by MetaBank, will be sent by mail this week and afterward to many taxpayers who have not yet received the third round of Economic Impact Payments.

So if you didn't get the latest payments of up to $1,400 each, it's possible that you still can see the money arrive relatively soon. Monday's news of another rollout marks the second batch of payments.

More payments will be issued in the upcoming weeks.

Unfortunately, taxpayers who saw their money by direct deposit in one stimulus effort sometimes end up with a check or a prepaid debit card in another stimulus program.

So you need to watch both your bank account — and your mailbox — to see how the money might show up.

 

Some taxpayers will see stimulus money show up in their bank accounts Wednesday.

The next batch of direct deposit payments will have an official pay date of March 24. Some people already began seeing the money listed as a provisional or pending deposit in their accounts. An earlier round of direct deposit payments hit March 17.

"The vast majority of taxpayers receiving EIPs will receive it by direct deposit," according to the IRS statement.

The IRS and the Bureau of the Fiscal Service stated that both leveraged data in their systems to convert many payments to direct deposits that otherwise would have been sent as paper checks or debit cards. That process, IRS officials said, has "accelerated the disbursement of these payments by weeks."

...continued

swipe to next page
©2021 Detroit Free Press. Distributed by Tribune Content Agency, LLC.