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As Federal Checks Disappear, Banks Face Surge in ACH Payments and Rising Fraud Risks

Finextra

About half of all federal checks by volume are for IRS tax refunds, with the rest primarily used for federal benefit payments such as Social Security and income support programs. Federal paper check usage remains concentrated in a few key areas.

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IRS Launches Consumer Portal For Getting Stimulus Checks

PYMNTS

A new IRS portal for coronavirus relief payments has been launched in conjunction with the U.S. citizens and resident aliens who are not claimed as dependents and had gross income below $12,200 ($24,400 for married couples) in 2019, according to the IRS site. Users must also have a valid Social Security number. .

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The IRS Stimulus Check Is Finally In The Mail (For Some)

PYMNTS

The Internal Revenue Service (IRS) said on Friday (April 24) that another eight million Americans have received their coronavirus stimulus payments over the past week. That’s up some eight million from one week ago, bringing the total value of payouts to nearly $158 billion, according to the IRS. The agency said it has issued 88.1

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Next Round Of $1,200 IRS Stimulus Checks To Go Out Soon

PYMNTS

The key groups who will receive these payments include people who aren’t required to file tax returns, such as those who receive Social Security, Supplemental Security Income (SSI) and veterans’ affairs benefits. In addition, tax filers who have recently provided bank information to the IRS will get the payments.

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What to Prepare for Tax Filing in 2024?

The Finance Weekly

The IRS doesn't tolerate late payments. The final day of tax document submission to the IRS. March 15, 2024 Filing of annual tax returns for partnerships, S Corporations, and multi-member LLCs. Deadline of tax returns for partnerships, S Corporations, and multi-member LLCs who were granted an extension.

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COVID-19 Stimulus Money Could Show Up In Bank Accounts Today

PYMNTS

The first round of emergency assistance is expected to reach people who have previously provided direct deposit information to the Internal Revenue Service (IRS). Most Social Security recipients get their benefits through direct deposit, according to the congressional committee’s announcement.

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TurboTax Rolls Out Free Tool For Faster Stimulus Payments

PYMNTS

Online tax preparation service TurboTax has announced that it is rolling out a free, stimulus registration solution to assist people who are not required to file a tax return. The IRS will be using federal tax returns from 2018 or 2019 to determine eligibility. There are roughly 10 million people in the U.S.

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