The second Economic Impact Payments are now being issued by the United States Department of the Treasury. The eligible individuals will either get their stimulus payments direct deposited to their bank accounts or get a debit card/check.
The Economic Impact Payments that are issued in the earlier stages will be handed out as debit cards and after the debit cards run out, checks will be issued.
How to get EIP2 fast?
The best thing you can do to get EIP2 faster is by requesting it to be direct deposited into your bank account. If the IRS doesn’t have the information of your bank account, you can update it through the IRS Get My Payment, also known as the Where’s My Stimulus.
IRS Treas 310 shown on bank account
Once your stimulus gets to your bank account through direct deposit the company name that sent it will be displayed as IRS Treas 310 or xxTaxEIP2.
The difference between EIP1 and EIP2 is the amounts. While the first Economic Impact Payments were $1,200 for adults and $600 per qualifying child, EIP2 is $600 for adults and $600 per qualifying child. Unfortunately, dependents aged between 18 and 24 such as college students aren’t eligible for the stimulus payments.
There will also be other times where you will see IRS Treas on your bank account other than the EIP. If your refund was late, you will see Treas 310 des tax ref which means you will also get interest payments on top of your refund. The meaning of IRS Treas 310 and other codes can be quite confusing but it generally refers to some form of government payment.
You can both update your bank account information and see the whereabouts of your stimulus check to get an idea of when you might get it,