Stimulus Payments Round 2
UPDATE: January 26, 2021:
We have learned that the IRS will reissue 5.2 million Economic Impact Payments beginning this week; 2.8 million of those payments will be distributed by ACH Direct Deposit and the remaining sent by check. These payments are reissuances of prior payments sent in error by the IRS to accounts at tax preparers, and that were subsequently returned at the specific instruction of the IRS. The ACH files will be sent in two batches with likely effective dates of Jan. 29 and Feb. 3. RDFIs might begin to receive these Direct Deposits as early as Tuesday, Jan. 26.
Additionally, the IRS Get My Payment portal will updated to reflect these reissued payments and is slated to be available on Jan. 29.
We have also has learned that once these payments are complete, no additional EIPs will be sent in this round. Instead, the Recovery Rebate claimed on a 2020 tax return will be the only option.
ORIGINAL POST: January 4, 2021:
Today is the official payment date for the second round of Economic Impact Payments to individuals and families, though we’ve learned the IRS is encountering problems delivering the stimulus payments to SOME recipients. The IRS said updates to consumer account files accumulated after this spring’s first round of EIPs were not delivered to the Federal Reserve as intended, delaying up to 20 million of the roughly 113 million in EIP2 ACH payments.
Additionally, the IRS has delayed the launch of its Get My Payment portal, which will provide status updates on individual payments. The IRS recommends bank customers with questions about their EIP refer to the EIP Information Center. https://www.irs.gov/coronavirus/economic-impact-payment-information-center
We will update you as we know more.
We are currently experiencing a high number of calls regarding these stimulus payments. Our Community Bankers are working to answer your calls as quickly as possible, but wait times may be longer. Along with Online & Mobile Banking, here are additional ways to speak with an FNBC Community Banker regarding your account:
- Click here for a list of all FNBC Offices & hours of operation.
- You may text FNBC at 870-994-2311 during regular business hours and someone will respond as soon as possible.
- All FNBC lobbies are currently open regular business hours except Hardy & Cherokee Village.
- Offices with iBankers: Ash Flat, Highland, Hardy, Batesville, Melbourne, Horseshoe Bend, Mountain Home
- iBankers are available Monday – Friday from 7 am – 7 pm and Saturday from 8 am – 2 pm