The deadline for registering for a possible Economic Impact Payment (also known as a stimulus payment) via direct deposit has been extended to November 21st. The IRS can only transmit funds to individuals for whom they have banking information. Most people, like those who received tax refunds or social security benefits via direct deposit, are already registered. Receiving a payment via a paper check or pre-paid debit card could delay your payment for months.
Listen to Jane Larimer, President, and CEO of Nacha, talk about EIP payments via direct deposit on SUNNY Across Central Florida.