Most payments have been automatically transferred through direct deposit.
Photo: Jeff Fusco / Getty Images
With the third round of economic impact payments underway, more than 120 million stimulus payments have been sent by direct deposit and by mail as a paper check or EIP prepaid debit card. Of the first batch of 90 million stimulus payments, about 150,000 were issued as paper checks and shipped by the United States Postal Service (USPS).
In its latest update, the Internal Revenue Service (IRS) announced last Wednesday that the second batch of stimulus payments of $ 1,400 has already been processed and is ready to be shipped: 37 million payments worth nearly $ 83 billion, of which 15 million payments have been sent as paper checks with a total value of nearly $ 34 billion and approximately 5 million EIP prepaid debit cards with a total value of about $ 11 billion.
In the coming weeks the government will send additional rounds of payments via direct deposit or by mail. The IRS updated the “Get My Payment” tool for the third round of stimulus checks, where you can track your payment.
Why did the IRS mail your payment if you received the above by direct deposit?
The IRS is trying to get all stimulus check payments through quickly. The vast majority of payments have been automatically transferred to bank accounts through direct deposit, however, that method is not always possible.
If you have not signed up to receive direct deposit with the IRS by providing your banking information or the federal agency does not have your current bank details, then most likely is that you receive your payment in the form of a paper check and in some cases through an EIP debit card.
This could be the case if your bank information that the IRS has on file is not accurate. If the IRS sent you direct deposit but there was some kind of error, the agency will send you a payment by mail to expedite it. This happened during the second round of payments when payments were sent to temporary accounts created by tax preparation companies for people who report their income.
How do you know if you will receive your stimulus check in the mail?
The easiest way to check your payment and when it should arrive is by using the IRS “Get My Payment” tool. The tool will let you know how and when you will receive it.
Related: You can deduct masks and hand sanitizer as medical expenses from your IRS tax return
The IRS will continue to issue EIP stimulus payments throughout 2021. The IRS only updates the “Get My Payment” tool information once per day, usually over a two-hour period at night, so updating it throughout the day may not give you any new information.
If your payment is sent by mail you should be attentive to your mailbox. You can also use the free service USPS Informed Delivery, which lets you know what mail could reach your door.
Remember that the Get My Payment tool will not tell you if you will receive a paper check or an EIP debit card. To prevent you from mistakenly throwing away your EIP card because you think it is junk mail, the IRS has provided an example of what EIP cards and the white envelope they ship in look like.
You may be interested:
Eddie is an Australian news reporter with over 9 years in the industry and has published on Forbes and tech crunch.