Debit cards may be used for stimulus payments

The increase in the number of people who file their tax returns along with their bank details electronically in recent years means that the IRS can quickly reverse their payments.

“Within a few weeks,” said an adviser to the Republican Finance Committee in a briefing with reporters today.

“Paper tests take a little longer because the office of [the] The financial service can only process and postpone as many paper checks a week, ”said the adjutant. “It’s a fairly significant number, but it would probably take some time, I think it took four or five weeks to rebalance.”

For this reason, the IRS is examining whether it could instead issue some payments “via debit cards or another medium”.

“Theoretically, it could be faster than if the financial service had to cut checks,” said the adjutant.

A Senate Coronavirus Aid Package would send tens of millions of Americans payments of up to $ 1,200 per adult and $ 500 per child.

Leave a Comment