The IRS has updated its FAQs on the CARES Act economic impact payments to reflect that the deceased (as well as heirs receiving payments in their name), non-resident aliens and incarcerated individuals are not eligible to receive EIPs and must return them. The obligation to return funds is on the ineligible recipients, not on banks.
ABA, associations: New York lawsuit would upend wire transfer law
ABA, the New York Bankers Association and two other associations urged a federal court to dismiss a lawsuit brought against...