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Mastercard Working with Liberty Tax to Provide Access to Economic Impact Payments and Tax Return Funds

Mastercard and Island Pay Launch World’s First Central Bank Digital Currency-Linked Card

With the Netspend® Liberty Tax® Prepaid Mastercard®, eligible Americans can receive quick and secure access to their stimulus and tax return payments

As Americans in need begin receiving Economic Impact Payments (EIP) via the U.S. Department of Treasury and Internal Revenue Service (IRS), Mastercard is working with Liberty Tax to offer direct stimulus payments and tax return funds through prepaid cardholder accounts, in turn improving equitable access to those who need it most. Qualifying new Liberty Tax customers will receive 30% off tax prep fees, a $15 bonus, and an additional $15 credit when selecting the Netspend® Liberty Tax® Prepaid Mastercard® for the disbursement of tax proceeds[1].

“Millions of Americans have been excluded from Economic Impact Payments because they have either not filed a tax return or shared their payment information with the government,” said Linda Kirkpatrick, president of North America at Mastercard. “We are highly focused on bringing more people into the digital economy, and this offer is reflective of our commitment. Together with Liberty Tax, we are using this prepaid option to help those who need it the most.”

How It Works:

  • Make a tax appointment at libertytax.com.
  • Check the status of your government stimulus paymentirs.gov/coronavirus/get-my-payment.
  • File your 2020 tax return with Liberty Tax. If you have not received prior stimulus checks, you may also need to file previous year returns.
  • Get your card and receive your funds. Once you have completed tax preparation, elect to have tax return proceeds disbursed to a new Netspend® Liberty Tax® Prepaid Mastercard®. Once you have activated your card, the applicable credit will be applied to your account within 10 business days.

“As we have walked together through this global pandemic, Liberty Tax has remained dedicated to serving our customers. With each EIP, we worked with the IRS to ensure our customers received the money promised to them and this is another example of our efforts,” said Brent Turner, CEO of Liberty Tax. “We’re proud to work with Mastercard to get Americans the assistance they deserve and encourage anyone who has not yet received their payments to come into one of our offices to see how we can help.”

In addition to Liberty Tax, Mastercard is working with partners to potentially enable the delivery of Economic Impact Payments to millions of Americans who hold reloadable prepaid cards. Prepaid cards offer an array of benefits extending far beyond providing more equitable access to EIP. These cards can be used for everyday needs and are especially beneficial amid the pandemic as they enable people to shop online or, in many cases, provide them with a contactless option for in-person purchases.

All Mastercard prepaid cards include Mastercard ID Theft Protection powered by Generali Global Assistance, providing detection and protection against identity theft, including monitoring, alerts, and expert resolution. Once an account is set up, individuals can also arrange to use their Mastercard prepaid card to receive direct deposits from their employer and for future EIP payments and tax refunds.

Individuals who choose to prepare their own tax returns can direct the IRS to deposit their refund and EIP to their existing reloadable prepaid card. Using a Mastercard prepaid card also provides an added level of convenience, with the funds available faster and no need to go through the hassle of cashing a check. For those who do not have bank accounts and rely on check cashing services, this also means more money in their pocket. For more information, visit www.mastercard.com/stimulus.

The Netspend® Liberty Tax® Prepaid Mastercard® is issued by Republic Bank & Trust Company, Member FDIC, pursuant to a license by Mastercard. International Incorporated. Netspend, a Global Payments Company, is a registered agent of Republic Bank & Trust Company. Certain products and services may be licensed under U.S. Patent Nos. 6,000,608 and 6,189,787. Use of the Card Account is subject to activation, ID verification and funds availability. Transaction fees, terms, and conditions apply to the use and reloading of the Card Account. See the Cardholder Agreement for details.

Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated. Card may be used everywhere Debit Mastercard is accepted.

[1] Offer valid 3/15/2021 – 4/15/2021. See www.libertytax.com/stimulus_3030/ for complete terms and conditions.

Source: Mastercard
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