Progress Being Made With Economic Impact Payments

        The 2021 American Rescue Plan (ARP) Act created a third round of Economic Impact Payments (EIP). An earlier post had discussed the changed eligibility requirements. Within the first 5 days of enactment, the Internal Revenue Service (IRS) has made 90 million payments. This was made possible by the use of Direct Deposit, and this will be the primary method of payment. In time, more checks and debit cards will be mailed.

          These payments are made automatically, and since we are in the third round, no action is required by most Taxpayers. Please remember that this payment is coming from the Treasury Department and the IRS. There is a new scam that has come to light where someone contacts a Taxpayer claiming to be from the Federal Trade Commission (FTC). That person will claim that a fee or tax needs to be collected to receive the EIP, or they may want some personal information from you. This is a complete lie. You do not need to pay to qualify for this. The IRS or any other government agency will never call, message, email, or reach out to you through Social Media and demand information or payment from you. We all need to stay vigilant as criminals continue to see opportunities to commit fraud.

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