Question

Will my 3rd stimulus payment be direct deposited using the updated info I gave Turbo Tax for the 2nd payment? IRS site says it’s using the previous acct. which is closed.

Forum|Forum|5 years ago
March 14, 2021
1 reply
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My 2nd payment bounced back to the IRS, at which point TurboTax contacted me to provide my current bank info. I did, and received the payment without issue. Now the Where’s My Refund tool says it is set to send the 3rd payment to the previous, closed account.
Can something be done or do we have to do the same thing all over again?

J

JamesG1

At this point, we believe that the stimulus payment will go to the bank account or address the IRS has on file for you. You may also receive the payment by check. This TurboTax Help states:

Do I need to do anything to get my stimulus check?

You don’t need to do anything to get your stimulus check. The IRS will determine eligibility based on your last tax return (either 2019 or 2020) and will likely send your payment to the bank account where your tax refund was deposited.

Can I change or update my bank information?

Right now, there is no way to change your information for your stimulus check. The payment will be based on the information from your latest tax return and will go to the bank account or address the IRS has on file for you.

Follow the TurboTax COVID Tax Center and the IRS Economic Impact Payment Information Center for further developments.

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C

CgrosklosAuthor

Hi James!

Thank you for the reply. The TurboTax help selection you've copy/pasted echoes the IRS website, and matches the info provided previous to distribution of the 2nd Stimulus Payment, with the IRS site stating that if the Direct Deposit was rejected, a check would be mailed. As the account the IRS had on file had closed, I resigned myself to waiting for a mailed check. Instead, I received an e-mail from TurboTax w/ the subject:

"CRITICAL STIMULUS UPDATE: Update Your Stimulus Payment Direct Deposit Information"

I was asked to provide updated direct deposit account information to TurboTax's "secure portal" and told that I would receive my stimulus payment within 5 business days of submitting that updated info. I provided it and received the payment via direct deposit within that window.

I am just confused as to why the IRS appears to have reverted to using my previous incorrect direct deposit info instead of the updated info provided by me to TurboTax then from TurboTax to the IRS. That confusion is compounded by TurboTax's "Stimulus check FAQs" page, which states:

"We have confirmed with the IRS that they have the accurate banking information for all TurboTax filers, which the IRS is able to use to deposit stimulus payments."

...which is, at least in my case, inaccurate. Both TurboTax Help and the IRS website state that I am personally unable to update that information, but TurboTax as an entity is not only obviously able to, but already had for my previous payment. This updated information apparently vanishing could be the fault of the IRS (failure to save, accidental deletion, etc.) or a mistake/oversight in TurboTax's Banking Info "Confirmation Process." Ultimately it doesn't really make a difference to me where the error occurred. I am simply requesting that my previously updated direct deposit info, already used for my 2nd stimulus payment, be given to the IRS (again) so that my 3rd payment arrives swiftly, without the need to repeat the rigamarole.

Thanks so much! Let me know how to proceed!

KathrynG3

If your bank account information which was updated for the second stimulus payment and successfully used, was then used when filing your 2020 tax return, the IRS should have your most recent information.

To find out why the Where's My Refund link has not been updated for the most recent information, you would need to reach out to the IRS directly and ask them to confirm what account is on file, since the most recently filed information is not reflected in their Where's My Refund link.

To contact the IRS, call 1-800-829-1040 and they are open Monday through Friday, 7 AM to 7 PM. For more contact resources, see IRS Let Us Help You.

For more information about the third stimulus, see this article for more information: IRS begins delivering third round of Economic Impact Payments to Americans.