IRS Sends 25 Million Economic Impact Payments
The Internal Revenue Service said today that it has issued another 25 million economic impact payments with a value of more than $36 billion in the fourth batch of payments.
Browsing: Payments
Powell: Fed ‘Not Equipped’ to Service Individual Accounts
Federal Reserve Chairman Jerome Powell today said that his agency is “not equipped to service individual commercial and retail accounts” and that doing so is currently “not permitted under law.”
ABA Files Amicus Brief in Support of Visa Merchant Data Breach Compensation Program
The American Bankers Association yesterday filed an amicus brief in the Texas state court case of Visa v. Sally Beauty Holdings.
IRS, Treasury Announce Next Batch of Economic Impact Payments
The Internal Revenue Service and Treasury announced today that the next batch of economic impact payments will be sent to taxpayers this week, with a payment date of Wednesday, March 24.
Financial Trade Groups Address Confusion Around Economic Impact Payment Date
In response to confusion about when consumers can access the latest round of economic impact payments, the American Bankers Association joined a coalition of nine financial trade groups today in issuing a statement confirming that the Internal Revenue Service chose March 17 for EIP funds to become available.
NACHA Sees Record Spike in ACH Payments during Pandemic
A total of 26.8 billion payments were made on the ACH Network in 2020—up 8.2% from a year prior—with a record of more than 2 billion new payments added, according to new figures released by NACHA today.
FedNow to Launch in 2023
The Federal Reserve yesterday said that its FedNow service will be ready to launch in 2023. The Fed previously indicated that the service would be ready sometime in 2023 or 2024.
ABA Calls for ‘Circuit Breaker’ ahead of ACH Threshold Increases
The American Bankers Association on Friday provided feedback to NACHA on its proposed plan to increase the dollar limit for same-day ACH transactions.
Fed to Remove Caps on Coin Distribution
The Federal Reserve has announced that it will return to regular coin distribution for all coin denominations beginning on Jan. 15.
IRS: ‘Get My Payment’ Portal Now Live
The Internal Revenue Service today announced that the Get My Payments portal—available in English and Spanish—is now live for individuals to log on and view the status of their economic impact payment.