It isn't clear if you'll be able to change your payment delivery method in one of the IRS portals when they launch by July 1. The IRS sent stimulus payments on Direct Express debit cards - which the Social Security Administration and Department of Veterans Affairs use to send benefit payments - and on prepaid EIP debit cards to some people for all three rounds of payments.The IRS told CNET it is still working out the details for who gets what, but in general: As with tax refunds and all three stimulus checks, people who don't have direct deposit information on file with the IRS will receive either a paper check or debit card. ![]() Most of the payments are expected to go straight into bank accounts - 80% of tax refunds are sent as direct deposit, and the IRS said it is "committed to maximizing the use of direct deposit" for child tax credit payments. The IRS on May 17 said debit cards would be one of three ways it will deliver child tax credit payments each month, direct deposits and paper checks being the other two methods. If you did throw away your card, call 80 right away to report it lost, and the IRS will ship. Who might receive their child tax credit money on a debit card? Then you’ll create a four-digit PIN to withdraw cash from an ATM or use the card in stores. For more, learn about the two portals the IRS is opening in July to help you manage your payments and what to do if you're still waiting for your stimulus check. Here's what we do - and don't - know about child tax credit debit cards. ![]() IRS EIP Notices: We mailed these notices to the address we have on file. ![]() While the majority of parents who qualify will receive their money through direct deposit, details about the debit card payments are still murky. Your Online Account: Securely access your individual IRS account online to view the total of your first, second and third Economic Impact Payment amounts under the Economic Impact Payment Information section on the Tax Records page. A pandemic-inspired benefit like the stimulus checks and plus-up payments, the child cash benefit payments will go out each month to families with eligible children, through direct deposits straight to bank accounts, as paper checks in the mail and on debit cards. The IRS estimates that 88% of families with children will automatically receive a payment starting July 15 - unless you opt out of the monthly payments and choose to receive one check in 2022. But do you know how the IRS will send your payment for up to $300 a month per child? ( Calculate your child tax check size here.) The IRS does not determine who receives a prepaid debit card.' What will the paper checks look like Paper checks will arrive by mail in an envelope from the U.S. If you're eligible, you can expect to get the first child tax credit payment on July 15.
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