Economic Impact Payments being sent by prepaid debit cards, arrive in a plain envelope

IR-2020-105, May 27, 2020

WASHINGTON – As Economic Impact Payments continue to be successfully delivered, the Internal Revenue Service today reminds taxpayers that some payments are being sent by prepaid debit card. The debit cards arrive in a plain envelope from “Money Network Cardholder Services.”

Nearly 4 million people are being sent their Economic Impact Payment by prepaid debit card, instead of paper check. The determination of which taxpayers received a debit card was made by the Bureau of the Fiscal Service, a part of the Treasury Department that works with the IRS to handle distribution of the payments.

Those who receive their Economic Impact Payment by prepaid debit card can do the following without any fees.

  • Make purchases online and at any retail location where Visa is accepted
  • Get cash from in-network ATMs
  • Transfer funds to their personal bank account
  • Check their card balance online, by mobile app or by phone

This free, prepaid card also provides consumer protections available to traditional bank account owners, including protection against fraud, loss and other errors.

Frequently asked questions continually updated on IRS.gov

The IRS has two sets of frequently asked questions to help Americans get answers about their Economic Impact Payments, including those arriving on prepaid debit card. These FAQs include answers to eligibility and other many common questions, including help to use two Economic Impact Payment tools.

Get My Payment, an IRS online tool, shows the projected date when a direct deposit has been scheduled or date when the payment will be mailed by check or prepaid debit card. The Non-Filers Enter Payment Info Here tool helps taxpayers successfully submit basic information to receive Economic Impact Payments quickly.

The IRS regularly updates the Economic Impact Payment and the Get My Payment frequently asked questions pages on IRS.gov as more information becomes available. Taxpayers should check the FAQs often for the latest additions.

Watch out for scams related to Economic Impact Payments

The IRS urges taxpayers to be on the lookout for scams related to the Economic Impact Payments. To use the new app or get information, taxpayers should visit IRS.gov. People should watch out for scams using email, phone calls or texts related to the payments. Be careful and cautious: The IRS will not send unsolicited electronic communications asking people to open attachments, visit a website or share personal or financial information. Remember, go directly and solely to IRS.gov for official information.

Quick links to the Frequently Asked Questions on IRS.gov:

Live Crowdfunding Blueprint Workshop

 

Learning how to leverage crowdfunding and bring in more cash. I’ll be teaching a live event and giving everyone their own blueprint to crowdfunding. Blueprints are a pathway, a roadmap, a way to get to your goal. What I love about crowdfunding is that there are so many ways to do it. I’d like to show you, your path.

Find out more at http://www.getcrowdfundenow.com 

Raising Funds With Business Crowdfunding Tools Part 1 of 5

Raising Funds With Business Crowdfunding Tools Part 1 of 5
By Dr. Letitia Wright

Crowdfunding is a term that covers many different things under business funding. If you think of Go Fund Me then, you’re missing out on what generated $187 Billion in 2018. It’s a whole lot bigger than Go Fund Me. Business Crowdfunding is going to grow past that in 2019 even if the American economy takes a dip because the worldwide economy is still growing and people can invest outside of the United sTates. Most wealthy American investors DO invest outside the United States. But that is a discussion for a different article.

Websites for crowdfunding are tools. They are not crowdfunding itself. The sites you use are merely a tool on which you crowdfund. In some cases ( not all) you don’t have to use a website, you can do crowdfunding on your website if you choose. I am not going into the details on that in this article, but I want you, dear reader, to understand that the option does exist. Successful business crowdfunding depends on having better tools at hand. Making sure you have the right website for your business or project is key to being successful. Thoughtful consideration to which site you are using is critical. When you only know about the “BIG THREE”: Kickstarter, Indiegogo, and Go Fund Me and there are over 2, 500 to choose from, you can not possibly make a good choice for yourself.

Most people who are running a business do not have the time to do the proper research. When people tell me they have been “looking” into crowdfunding and “researching it,” I am a bit skeptical. Not because I think they are not smart enough. I think, in today’s world, where we are over-committed, over-informed with information we don’t need and generally over-whelmed as business owners, I can’t imagine how anyone has the proper time to do that. Even if you read five books on crowdfunding before you crowdfund, it would take you anywhere between 2-6 months to do that, and your skill level would still be very low because you have never done it before. Imagine reading all the books on how to play baseball and then getting your turn at bat in a major league baseball game. Your knowledge of the game is there, but your skill level is not up to par with everyone else.

So having a strategy is very important. A crowdfunding strategy is a must-have tool. It’s the first thing you need before you start figuring out what website to use. Having someone who helps you put together a winning strategy is essential. 65% of people trying to crowdfund do not reach their goal. They think they are going to copy a successful campaign, but it’s hard to do with explicit knowledge of that strategy. I’ve helped reach and raise their goals over and over. And I’ve also helped people do a business check so they can improve their company over and make money in other ways.

I work with Purposeful, Passionate Female Founders who are looking for alternative funding, if that’s you, let’s talk! You can get on my calendar at
http://www.meetwithDrWright.com

Next Page »