Stimulus Payments Round 3
March 12, 2021
Background: President Joe Biden on Thursday signed into law the $1.9 trillion American Rescue Plan Act, which includes a third round of EIPs of up to $1,400 per eligible recipient.
Individuals with AGI (adjusted gross income) of less than $75,000 ($150,000 per married couple) will receive checks of $1,400 ($2,800 per married couple), plus $1,400 for each of their dependents.
When will this round of payments be distributed?
- The IRS said it will begin distributing the third round of Economic Impact Payments Friday, March 12, with an effective entry date of this Wednesday, March 17.
By what criteria will this payment be disbursed?
- The first round is expected to include payments to any eligible recipient that successfully filed a 2020 or 2019 tax return, with known good bank account information. The IRS will use 2020 bank account information if that return has completed processing; otherwise, 2019/the most recent information will be utilized.
- We do not currently know the timing of when check/prepaid card payments will begin or the expected volume/value of check/card payments.
Is this round of EIP payments protected from garnishment?
- No. The legislation does not protect EIP Round 3 payments from garnishment.
Is there any new information about the online Get My Payment Portal?
- The portal is expected to reopen soon and will only allow for taxpayers to check the status of their EIP Round 3 payment. Taxpayers cannot provide new bank account information due to the short window in which the IRS expects to distribute all payments.
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 Monday – Friday and someone will respond as soon as possible.
- All FNBC lobbies are currently open regular business hours.
- All FNBC offices now have iBankers.
- iBankers are available Monday – Friday from 7 am – 7 pm and Saturday from 8 am – 2 pm