More than 150 million people have received the first round of the coronavirus stimulus checks or also known as the COVID-19 Economic Impact Payments from the IRS. Many people received the payments through direct deposits, paper checks and some in EIP Debit Cards.
Now as the second round of the stimulus fund is set to be released people are asking how these will be distributed since the first round of distributions has caused confusion due to the un-uniformity of the payment manner.
Second Wave of EIP: Paper Check? Direct Deposit? Or Debit Card?
One of the most asked questions about the second batch of stimulus payments to be distributed is their manner of distribution.
According to en.as.com, people who have given their bank information to the IRS are likely to get the money through direct bank deposits. They also noted that those who received the first payment directly in their accounts should expect any future transactions to be the same.
Meanwhile, for a person who does not have bank account information with the IRS, they should be expecting the payments through paper checks or through the EIP cards. However, it seems that the US Treasury and the IRS are leaning towards the use of cards since it is a faster way of getting the money to the Americans. This is because the Treasury can only cut 5 million paper checks on a weekly basis; and with this time frame distributing the money can take months.
Can one choose between receiving a check or an EIP card?
According to CNet, the IRS has repeatedly made it clear that as of the moment, people cannot choose whether they receive the payment through the EIP card or paper checks. What they have reiterated is that people who cannot and do not receive the payment through direct deposits will receive the payment through either of the two alternatives.
Moreover, it was stated that another part of the Treasury Department which is the Bureau of the Fiscal Service (BFS), is working together with the IRS in deciding who gets which.
The EIP Card Issue.
Despite the goal to bring money to Americans faster, the EIP Cards posed a bigger issue than it being helpful. Arriving in mailboxes in plain envelopes with only an unfamiliar name Money Network Cardholder Services return address to Omaha, many EIP cards ended up in trash bins and shredders since people thought they were accessories used by scammers to commit fraud and phishing.
Will a Second Stimulus Check Still Come?
Despite the fact that the method of distribution has been discussed, what remains a question is if a second stimulus check will still come.
According to CNBC, Mitch McConnell, the Senate Majority Leader stated last Friday that Congress is
yet to decide if they will pass another coronavirus relief package in the weeks to come.
Moreover, it was also stated that they are still looking carefully at the possibility of a fourth and final bill and that a decision is expected to come in a span of one month. He also added that the bill will be crafted to the expected situation of the country a month from the present.
Related article: COVID-19 Stimulus Funds End Up in Trash as They Arrive in Debit Cards That People Thought Were Scam
