WASHINGTON—The IRS has issued an updated statement regarding economic impact payments (EIPs) specifically concerning taxpayers who didn't receive the second EIP due to temporary bank accounts identified in their records as being closed. The IRS statement includes individuals who used tax preparer services for their 2019 taxes.
The IRS indicated it will reissue payments to those individuals, saying the reissued payments will be issued directly from the government later this month and may be issued as a paper check or as a direct deposit. The IRS also noted taxpayers do not need to take any action; the payments will be issued automatically.
Numerous credit unions across the country have included information related to the government stimulus payments on the front of their websites.
The Treasury Department and IRS in December began delivering a second round of EIPs to eligible individuals as a part of the Phase 4 coronavirus relief and funding omnibus package.
The incoming Biden Administration has indicated it will seek to provide even more stimulus payments to certain Americans.