Information on Economic Impact Payments

Update: January 5, 2021
Did you know that the answers to many of your stimulus payments related questions can be found at irs.gov. To learn more about the schedule of direct deposits and paper checks and how to check the status of your stimulus payment online, click here.

Update: December 30, 2020
The Internal Revenue Service will begin delivering a second round of Economic Impact Payments to millions of Americans as part of the implementation of the Coronavirus Response and Relief Supplemental Appropriations Act of 2021. The initial direct deposit payments may begin arriving as early as today for some and will continue into next week. Learn more.

EIP FRAUD ALERT
November 4, 2020

The IRS is warning people about a text message scam piggybacking on the economic impact payments authorized under the Coronavirus Aid, Relief and Economic Security Act. The text reads, “You have received a direct deposit of $1,200 from covid-19 TREAS FUND. Further action is required to accept this payment into your account. Continue here to accept payment,” according to the IRS. If you receive this text, take a screenshot and email it to [email protected]

============================================================================================================================

The first wave of Economic Impact Payments started arriving in members accounts via direct deposit on April 15th, after which the Treasury will continue issuing payments every Friday.

Individuals who file their taxes electronically and provide the IRS with direct deposit account information will receive payments by ACH direct deposit.  Be sure to check your accounts to see if your direct deposit payment has arrived.

If the IRS doesn’t have your direct deposit information, you can expect a paper check.  Paper checks may take up to 20 weeks, as stimulus payments are being sent in waves and not everyone will receive payments at the same time.  While most Economic Impact payments are being distributed by direct deposit or check, some members are receiving payment in the form of an Economic Impact Payment (EIP) debit card. Find out how to transfer money from your EIP debit card to your Patriot account.

For more information on economic impact payments and to check on the status of your payment visit the IRS web site.