Emerald Card clients have received their third stimulus
H&R Block (NYSE: HRB) announced on March 16, 2021, that the processing of third stimulus payments to Emerald Cards was completed. The IRS indicated that payments would be available in bank accounts by March 17. H&R Block has collaborated with the IRS to streamline this process. Clients can verify their payments through the myBlock app or by contacting the Emerald Card support line. Additionally, further stimulus payments may be accessible if conditions change during tax filings. More information can be found on H&R Block’s website regarding COVID-19 relief impacts on taxes.
- Successful processing of third stimulus payments bolsters client confidence.
- Collaboration with the IRS enhances the payment process efficiency.
- Reliance on IRS for payment distribution creates potential delays.
- No mention of how many clients successfully received payments or any performance metrics.
KANSAS CITY, Mo., March 16, 2021 (GLOBE NEWSWIRE) -- H&R Block (NYSE: HRB) announced that third stimulus payments to Emerald Cards finished processing today. Late last week, the IRS shared in a press release that the first wave of stimulus payments would arrive in bank accounts by Wednesday, March 17.
“We understand how important these stimulus payments are for our clients,” said Tony Bowen, H&R Block chief financial officer. “H&R Block partnered with the IRS after the second stimulus to ensure a smoother process for our clients for this stimulus payment.”
H&R Block Emerald Card clients have several ways to check their stimulus payment: via the myBlockSM mobile app or by calling the Emerald Card support line at 866-353-1266 for self-service options and live agent help. In addition, Emerald Card clients will receive an email noting the Emerald Card where the stimulus money was deposited.
H&R Block customers who have not received past tax refunds or stimulus payments on an Emerald Card should check the IRS Get My Payment site for information about their stimulus. The IRS determines when and how stimulus payments are distributed and has shared that all payments will be sent out over the coming weeks in batches whether by direct deposit, check, or U.S. Treasury debit card. Get My Payment will only reflect a status once the payment has been issued according to the IRS timeline. The IRS has indicated that most people will not be able to use Get My Payment to update banking information for this stimulus payment.
Additional stimulus money may be available at a later date
If an individual believes they did not receive the full amount of the third stimulus payment they were owed, there are two times when they may receive additional stimulus money.
- If their third stimulus was initially based on a 2019 return and they file a 2020 return that would qualify them for more money, the IRS will re-determine eligibility 90 days after the filing deadline or by September 1, 2021 at the latest, and issue an additional payment for the difference.
- Recovery Rebate Credit next tax year – If there is a change in circumstances in 2021 that would qualify taxpayers to receive additional third stimulus money, a Recovery Rebate Credit can be claimed when 2021 taxes are filed (in 2022).
More information about COVID-19 relief benefits in the American Rescue Plan and the impacts to taxes is available on H&R Block’s website:
- Block Advisors’ guide to 2020 small business taxes and stimulus relief
- Coronavirus Resource Hub for individuals and families
H&R Block Emerald Prepaid Mastercard® is issued by MetaBank®, N.A., Member FDIC, pursuant to license by Mastercard International Incorporated. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated. Additional fees, terms and conditions apply; consult your Cardholder Agreement for details. ©2020 HRB Tax Group, Inc.
About H&R Block
H&R Block, Inc. (NYSE: HRB) provides help and inspires confidence in its clients and communities everywhere through global tax preparation, financial products, and small business solutions. The company blends digital innovation with the human expertise and care of its associates and franchisees as it helps people get the best outcome at tax time, and better manage and access their money year-round. Through Block Advisors and Wave, the company helps small business owners thrive with innovative products like Wave Money, a small business banking and bookkeeping solution, and the only business bank account to manage bookkeeping automatically. For more information, visit H&R Block News or follow @HRBlockNews on Twitter.
For further information
Investor Relations: Colby Brown | 816-854-4559 | colby.brown@hrblock.com
Media Relations: Angela Davied | 816-854-5798 | angela.davied@hrblock.com
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