The Internal Revenue Service and the Treasury Department began distribution of the second round of Economic Impact Payments on Dec. 30. The funds are part of the Coronavirus Response and Relief Supplemental Appropriations Act of 2021. Distribution is expected to be complete by the end of January.
Those who received the first stimulus disbursement by direct deposit and qualify for the second payment should have already received their funds directly into their bank account.
Social Security recipients who received the first round of payments under the CARES Act via Direct Express should expect to receive the second payment in the same way.
Anyone who received the first round of economic relief and doesn’t receive a direct deposit should expect to receive a paper check or debit card in the mail.
The Bureau of the Fiscal Service, part of the Treasury Department, has opted to send a limited number of EIPs to some recipients as a way to deliver all payments as soon as possible. If you received your first round of stimulus payments in the form of a check, you could receive the second payment via debit card. Conversely, if you received the first payment via debit card you may receive the second round by paper check.
To help residents identify these debit cards the IRS has released information about what to expect when you check your mail. The debit cards will come in a white envelope with the U.S. Department of the Treasury seal prominently displayed. The Economic Impact Payment Card will have the Visa logo on the front, and the issuing bank, MetaBank, N.A. on the back.
Those who receive social security, disability, VA benefits, and others who typically don’t file taxes can still expect to receive their EIP benefit in the same way they receive their regular benefits. If you are eligible to receive the EIP but you do not receive the second payment for any reason you can file a 2020 tax return.