Economic Impact Payments
IRS Changes Course, Will Reissue Some Misdirected EIPs
The Internal Revenue Service announced January 10, 2021 that it has changed its position and will reissue some EIPs for taxpayers who did not initially receive their second-round EIPs due to a processing error. According to the IRS, this will impact "taxpayers whose tax preparation providers followed initial IRS guidance and are now waiting for the IRS to re-process payments related to these accounts."
Reissued EIPs are expected to be issued directly by the IRS to eligible individuals, both by ACH and check, around February 1, 2021. No other details were provided by the IRS at the time of the announcement. As additional information is available, we will provide updates.
Members eligible to receive a second-round EIP by direct deposit to HEBFCU had the funds posted Friday, January 1, 2021. In NetBranch, deposits have “XXTAXEIP2” in the description.
Visit the IRS Get My Payment Frequently Asked Questions page for answers to questions about eligibility, payment amounts, and more.
For other COVID-19-related tax relief, visit IRS.gov/Coronavirus.
We will continue to monitor information on second-round EIPs from the IRS. Please check back for updates.