IRS has already completed the two large waves of direct deposits with the third $1,400 stimulus check.
The two mass direct deposit efforts related to the distribution of the third $1,400 stimulus check have been completed by the Internal Revenue Service (IRS) in coordination with Nacha, the group in charge of managing the Automated Clearing House Network (ACH Network), and U.S. banks.
The most recent transfers were released yesterday, Wednesday, March 24, the official payment date established by the IRS.
At the moment there is no data on the amount of payments issued electronically in this second wave.
However, in the previous wave, a week earlier (March 17), 90 million payments were completed via direct deposit.
With these two schedules of third stimulus check payments to bank accounts, the IRS completed the majority of payments by direct deposit.
There are still payments for beneficiaries of government programs such as Social Security and other special cases that the agency may be processing through direct deposit.
In fact, in a post on its website, the office indicated this week that much of the payments to SSDI , SSI, Railroad Retirement and Veterans Affairs beneficiaries would be through direct deposits.
“The IRS is working directly with the Social Security Administration, Railroad Retirement Board and Veterans Administration to obtain updated 2021 information for recipients to ensure it is sending automatic payments to as many people as possible. More information will be provided on IRS.gov as it becomes available,” the office anticipated.
In some cases, the transfer could be made to the “Direct Express” card on which you are
The IRS has not specified when the distribution of payments to this group will begin or for how long it will be spread out.
Following the delivery of most direct deposit payments, the agency will focus on mailing paper checks and prepaid cards (EIP Card).
As of last week, the IRS began processing payments through these channels.
However, this week, most of the payments processed were in paper checks, according to the agency’s statement.
The “American Recovery Plan” law passed in Congress this month sets a Dec. 31 deadline for processing all stimulus checks in any of the three forms.