Relief Payments Are Coming
Updated 12.31.2020 11:15am
Due to the continued issues brought upon us because of COVID-19, Congress has enacted a second round of economic relief payments to assist those struggling as a result of the pandemic.
The second round of Economic Impact Payments (stimulus payments) for ACH processing will have an effective date of January 4th, 2021.
To help answer any common questions, the American Bankers Association has released some updated FAQs. More information regarding the stimulus payments is also available through the IRS and the U.S. Department of the Treasury.
As a result of the issues brought upon us due to COVID-19, Congress has enacted a $2 trillion economic relief package to assist those struggling as result of the pandemic.
The first batch of these Economic Impact Payments (stimulus payments) for ACH processing will begin transmitting the week of April 12th, 2020, with an initial assumptive pay date of April 15th, 2020.
To help answer any common questions, the American Bankers Association has created some FAQs that will be updated as more details are disclosed from the Treasury Department.
Additional information such as how to obtain payments for non-filers and checking payment status (available Mid-April) is available through the IRS.
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