Some economic impact payments to arrive as prepaid debit cards

Courtesy: MGN
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SPRINGFIELD, Mo. -- If you still haven't received your stimulus check, it could be coming in the mail soon in the form of a prepaid debit card.

Earlier this week, the U.S. Department of the Treasury announced that nearly four million Economic Impact Payments were sent out this week via a new prepaid debit card.

The deparmtent says EIP Card recipients can make purchases, get cash from in-network ATMs, and transfer funds to their personal bank account without incurring any fees. The EIP Card can be used online, at ATMs, or at any retail location where Visa is accepted.

“Treasury and the IRS have been working with unprecedented speed to issue Economic Impact Payments to American families. Prepaid debit cards are secure, easy to use, and allow us to deliver Americans their money quickly,” said Secretary Steven T. Mnuchin. “Recipients can immediately activate and use the cards safely.”

As of Monday, more than 140 million Economic Impact Payments worth $239 billion to Americans by direct deposit to accounts at financial institutions, Direct Express card accounts, and by check.

The IRS launched the "Get My Payment" app in April for people to check on the progress of their stimulus checks.

Some who enter their information onto the IRS website to check on their stimulus check may receive a message that reads “Payment Status Not Available.” The message provides a vague explanation that “according to information that we have on file, we cannot determine your eligibility for a payment at this time.”

The IRS explains there are multiple reasons you may receive this message:

-If you are not eligible for a payment.
-If you are required to file a tax return and have not filed in tax year 2018 or 2019.
-If you recently filed your return or provided information through Non-Filers: Enter Your Payment Info on IRS.gov. Your payment status will be updated when processing is completed.
-If you are a SSA or RRB Form 1099 recipient, SSI or VA benefit recipient – the IRS is working with your agency to issue your payment; your information is not available in this app yet.

Read the original version of this article at www.ky3.com.