EIPs heading to federal beneficiaries

The IRS said it expects to begin issuing additional Economic Impact Payments this weekend to federal beneficiaries who do not normally file a tax return.

Details: The announcement applies to Social Security retirement, survivor or disability, Supplemental Security Income, and Railroad Retirement Board beneficiaries who did not file a 2019 or 2020 tax return or did not use the IRS Non-Filers tool.

Timing: Most of these payments will be sent electronically and received on Wednesday, April 7.

Resources: The IRS recently issued updated FAQs on the EIPs. More information is available from ICBA, the Federal Reserve, and the federal Get My Payment portal.