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SusanY1
January 8, 2021

Unfortunately, there is no tool to update this information for the second payment.  If the payment is sent to an account that you have closed or no longer have access to, the bank is required by law to return it to the IRS. In cases where the IRS does not have another bank account to try, the payments will need to be claimed as a credit on the 2020 tax return. 

 

You will do this in TurboTax by answering the 2 questions about the stimulus payments that will appear at the end of the interview.  The questions are in the section Federal Review.  They are at the end of the interview so that TurboTax can be sure to calculate the correct payment amount due based on all of the factors in your tax return (income, number of dependents.)  

 

Once the information is entered you will see your refund increase or balance due decrease, and TurboTax will enter the amount of the credit on Line 30 of Form 1040 for you.

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