Americans are anxiously awaiting news about the stimulus bill and the prospect of receiving direct Economic Impact Payments (EIPs).
Now that the legislation has been signed into law, ICBA has gathered some answers to the top issues impacting community banks. As ICBA obtains more information, we will update our Frequently Asked Questions.
Preparing Your Bank for EIP Distribution
EIP2) How many payments will the government distribute?
The government anticipates it will send more than 145 million new Economic Impact Payments. If the IRS does not have account information on file for Direct Deposit, then individuals may receive a check or prepaid debit card. The IRS estimates 26 million will be checks and 8 million will be debit cards.
Additional Resources for Bank Employees
EIP2) How many payments will the government distribute?
The government anticipates it will send more than 145 million new Economic Impact Payments. If the IRS does not have account information on file for Direct Deposit, then individuals may receive a check or prepaid debit card. The IRS estimates 26 million will be checks and 8 million will be debit cards.
EIP Eligibility and Payment Processing
EIP2) How many payments will the government distribute?
The government anticipates it will send more than 145 million new Economic Impact Payments. If the IRS does not have account information on file for Direct Deposit, then individuals may receive a check or prepaid debit card. The IRS estimates 26 million will be checks and 8 million will be debit cards.
Common Customer Questions
EIP2) How many payments will the government distribute?
The government anticipates it will send more than 145 million new Economic Impact Payments. If the IRS does not have account information on file for Direct Deposit, then individuals may receive a check or prepaid debit card. The IRS estimates 26 million will be checks and 8 million will be debit cards.