Still Waiting On Your Second Stimulus Check? | Ohio CPA Firm

Still Waiting On Your Second Stimulus Check?

Wondering If Your Stimulus Check’s In the Mail?

Conversations around the second wave of stimulus funds continuing to circulate and while many taxpayers have already received their stimulus payments from the government in the form of a direct deposit, others are still waiting. If you’re one of the many who are still waiting, don’t worry. The IRS says your check’s (or maybe even a debit card) is in the mail.

News outlets across the country have reported that people are receiving their $600 Economic Impact Payment (EIP) in the form of a debit card, which is delivered directly to their mailbox. Unfortunately, because they weren’t expecting the payments to take this form, there have been several instances of individuals nearly throwing out these payments with the garbage because they mistakenly believed the cards to be junk mail or even a scam.

Kudos to those who are being extra vigilant at a time when scammers are rampant. That being said, these debit cards are preloaded with your stimulus funds and are 100% real.

Listen to episode 266, “How Are They Stealing My Information? Fraud Protection 101,” on unsuitable on Rea Radio, Rea & Associates’ award-winning weekly podcast.

“Taxpayers should note that the form of payment for the second mailed EIP may be different than the first mailed EIP,” the IRS stated. “Some people who received a paper check last time might receive a prepaid debit card this time, and some people who received a prepaid debit card last time may receive a paper check.”

According to the IRS, MetaBank, the treasury’s financial agent, is the issuer of the debit cards.

Why Wasn’t Your Stimulus Payment Deposited Directly To Your Bank Account?

Many Americans received stimulus payments back in January in the form of a direct deposit to their checking accounts. Others, on the other hand, were made to wait a little longer. This is because the IRS didn’t have the taxpayer’s routing and account information. The IRS gains this information from most recent tax filings. In this case, whether a tax payer’s stimulus check was direct deposited or not depended solely on whether their banking information was included on their 2019 tax return.

What To Look Out For

The agency has said that it is issuing about eight million EIPs in the form of prepaid debit cards. Taxpayers should be on the look out for a white envelope with writing on it that states “Economic Impact Payment Card.” The mailing will also include the U.S. Department of Treasury seal. The pre-paid debit card will be inside and should have “VISA” on the front with the name of the issuing bank, MetaBank, on the back.

If you are concerned that you’ve already received your debit card from the government but accidentally threw it away or destroyed it, you can call 1.800.240.8100 and choose the “Lost/Stolen” option when prompted. To ensure that you receive your funds, the lost card will be deactivated and a replacement card will be provided to you at no cost.

If you would like to learn more about the Coronavirus Tax Relief and Economic Impact Payments, check out the resource center on the IRS’ web site.

Looking for more tips to help protect you from fraud? Check out these resources.

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