Is it true that turbo tax has received the second stimulus payment and is not releasing it to the accounts on file for the taxpayer?

TurboTax does not receive tax refunds or other payments on behalf of customers.  However, we are aware that a number of our customers were affected by a processing error that occurred during the distribution of the second round of payments.

TurboTax has been working with the IRS to ensure that they have the proper information for a second attempt to deposit funds directly into the correct customer bank accounts. We expect this process to be complete within a few days. Any payments not successfully delivered in this second attempt will be mailed no later than January 15, 2021. 

If you have not received your payment by January 15, 2021, AND your status remains "unavailable" (or similar) at Get My Payment, then you will claim your credit when you file your tax return.

Please allow a few days after the 15th for the mailing of any check or debit card issued by the IRS.

You will find the most current updates posted here: IRS Updates on the Second Stimulus and here: TurboTax updates on the second stimulus.  Both of these sites will continue to be updated as more information becomes available.