The Internal Revenue Service and the Treasury Department have begun delivering a second round of Economic Impact Payments (EIP) as part of the Coronavirus Response and Relief Supplemental Appropriations Act of 2021. These payments will be direct deposited into the accounts of individuals who received the first round of payments earlier this year. Those who do not qualify for direct deposit may receive a paper check. ACH direct deposits will have an effective date of January 4, 2021, and paper checks will have a pay date of January 6, 2021.
As with the prior Stimulus Payments, the IRS emphasizes that there is no action required by individuals to receive this second payment. Taxpayers, in addition to most seniors and retirees will receive the second round of payments by the same method as the first round.
Direct deposit payments will be deposited directly into the same account that was listed on your most recent tax return, or is used to receive your current benefit payments. If the IRS already has your EdFed account information, no further action is required. You can check your account using online banking, 24/7 at www.edfed.org or on our mobile app.
If you receive a paper check, you can deposit it at one of our branches, our open drive-thru locations or in our branch day/night depositories. You can also mail your check to us at PO Box 830370, Miami, FL 33283-0370. Please be sure to write your account number and share ID for the deposit on the back of your check. Deposits made at a branch or via mail will be applied to your account without funds availability holds. For mobile deposit users, the first $500 of your deposit will be made available the same business day.
For more information on Economic Impact Payments, please visit the IRS coronavirus impact payment website found at irs.gov/coronavirus/economic-impact-payments. This is the only authorized site by the IRS. Other IRS resources available to assist you are listed below:
| Protect Yourself Against Fraud | | The IRS and EdFed will NOT call you requesting information to help you enroll for this program. Do not give anyone your personal information to enroll for your stimulus check. Anyone calling or emailing you for your personal information, like your Social Security number, PayPal account, or Credit Union information is trying to steal your stimulus check and your identification. The Federal Trade Commission has published information to help you avoid stimulus scams. |
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