The Internal Revenue Service (IRS) has announced that the third round of Economic Impact Payments (EIP) will now begin reaching Americans – starting from Monday 15 March.
Following approval of the American Rescue Plan Act, the first batch of payments will be sent by direct deposit.
Additional batches of payments will be sent in the coming weeks by direct deposit and through the mail as a check or debit card. The vast majority of these payments will be by direct deposit.
According to the IRS, “no action is needed by most taxpayers” – with the payments being automatic and, in many cases, “similar to how people received the first and second round of EIP in 2020”.
People can check the ‘Get My Payment’ tool on IRS.gov on 15 March to see the payment status of the third stimulus payment.
EIP’s are part of US governments coronavirus aid relief and were designed to reduce the financial burden of Covid-19 on individuals. The first batch of payments was issued in February 2021.
Chuck Rettig, commissioner at the IRS, said: “Even though the tax season is in full swing, IRS employees again worked around the clock to quickly deliver help to millions of Americans struggling to cope with this historic pandemic.”
“The payments will be delivered automatically to taxpayers even as the IRS continues delivering regular tax refunds. We urge people to visit IRS.gov for the latest details on the stimulus payments, other new tax law provisions and tax season updates.”