If at the time your Economic Impact Payment (EIP) or Advance Child Tax Credit (ACTC) payments is deposited (via Direct Deposit or Check) your account has a negative balance, we may apply a Temporary Credit to cover the negative balances in your account so that you may have full access to your Economic Impact Payment ( …

Is the EIP payment the same as the stimulus payment?

Due to the COVID-19 (Coronavirus) pandemic, the federal government is issuing Economic Impact Payments (EIP) of up to $1,200 per qualifying individuals. Many people are calling them “stimulus checks” or “stimulus payments.”

Why did I get an economic impact payment card instead of direct deposit?

If the IRS sent a previous stimulus check as an EIP card and plans to send you another payment the same way, you’ll receive a brand-new prepaid card with the calculated total for your third stimulus check.

What is the economic impact payment card ( EIP )?

The Economic Impact Payment (EIP) Card is a prepaid debit card distributed to eligible recipients that contains the first round of Economic Impact Payments under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) or the second round of Economic Impact Payments under the COVID-related Tax Relief Act of 2020.

What happens if your EIP card never arrives?

If you received a confirmation letter from the IRS that it sent your money, but your EIP card never arrived you may have to report the missing funds or any errors to the IRS. Third stimulus check: could $1,400 payment arrive in January?

Is the EIP based on adjusted gross income?

Are eligible to receive the full EIP and have likely already received their check. Americans with a total adjusted gross income above these thresholds will receive a reduction on their EIP, based on 5 percent of how much more they earn.

Is the economic impact payment card being reloaded?

No. EIP Cards issued for the first or second round of Economic Impact Payments are not being reloaded. If you received EIP Cards for round one or round two stimulus payments, they all have separate balances, and you should keep those earlier EIP Cards until the balance for each EIP Card reaches zero. Call 1.800.240.8100.