Tuesday, July 27

IRS Prepares to Release New Third Stimulus Check Direct Deposits of $ 1,400 This Wednesday, March 24

IRS Prepares to Release New Third Stimulus Check Direct Deposits of $ 1,400 This Wednesday, March 24

Illustrative image of the stimulus check sent by the federal government.

Thomas Cain / Getty Images

The Internal Revenue Service (IRS) is preparing to send this Wednesday, March 24, the second round of payments corresponding to the third stimulus check with most payments arriving in the mail as a paper check or prepaid debit card (EIP Card).

For direct deposit recipients, the money will be available for use early tomorrow when the banks and Nacha release the funds.

Through the Get My Payment online tool, users can receive an accurate response on the status of the third stimulus check and the route by which the money will arrive.

In the case of recipients of direct deposits processed for tomorrow, the system will directly indicate that the payment date is March 24.

Most payments by mail this week

The IRS clarified, however, that most of the funds processed for this second phase of delivery of the third stimulus check will arrive in the mail.

“For taxpayers receiving direct deposit, these latest payments will begin processing on Friday and will have an official payment date of Wednesday, March 24, and some people will see them earlier in their accounts, potentially as provisional or pending deposits. A large portion of these payments will be mailed, so taxpayers who do not receive direct deposit by March 24 should watch the mail closely for a paper check or a prepaid card, known as the Card. of Payment of Economic Impact or EIP Card ”, specified the IRS in a press release this Monday.

In the entry on the IRS.gov website, the agency noted that it has acted quickly to process the third round of payments under the “American Rescue Plan”.

“The IRS continues to deliver the third round of stimulus payments in record time,” said IRS Commissioner Chuck Rettig.. “Since this new set of payments will include more payments by mail, we urge people to carefully watch their mail for a check or debit card in the coming weeks,” he added.

However, some beneficiaries felt that they have waited longer than necessary to receive their payments.

After the Administration indicated that the first payments would begin to process on March 12, many Americans who would receive the money that weekend.

But the fact was that they could not make free use of the funds until last Wednesday, March 17, the first official payment date. This prompted questioning from clients of banks such as JP Morgan Chase and Wells Fargo, who thought they could use the funds immediately.

This is because that was the first date established by the IRS for the banks and the Nacha group to release the money to the accounts of the beneficiaries.

Nacha is the group in charge of managing the Automated Clearing House (ACH Network) or the payment system for direct deposits and direct payments to accounts in US banks and cooperatives.


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