IRS Is Releasing Stimulus Debit Cards

According to the Treasury Department 4 million Americans should receive their government stimulus payments through a prepaid debit card. The cards are being mailed to people who haven't provided their banking information to the IRS, such as low-income households without bank accounts or taxpayers who don't typically receive a tax refund via direct deposit.

140 million Americans have received stimulus payments since the IRS began sending the coronavirus relief checks. Another 10 million taxpayers are still waiting on the funds.

Some taxpayers are still waiting for their money and have expressed frustration with the process. The IRS was forced to close its telephone help center due to the pandemic, and consumers haven't been able to connect with an agency representative. The IRS is adding 3,500 workers who will soon answer questions about the payments.

The debit cards, called Economic Impact Payment (EIP) Cards, will be sent to 4 million taxpayers instead of a paper check or direct deposit. The cards can be used to make purchases, get cash from in-network ATMs or transfer funds to personal bank accounts without any fees and the cards will be accepted at any store where Visa cards can be used.

Photos by Getty Images

Sponsored Content

Sponsored Content