![]() ![]() ![]() Rejected deposits are likely to be reissued as paper checks, although the IRS may also instruct taxpayers to file their 2020 tax return to claim their payment, the person said. "The IRS determines where second stimulus payments were sent, and in some cases, money was sent to a different account than the first stimulus payment last spring," Tweeted H&R Block, another tax preparation company helping to distribute payments. 4 in customer accounts the IRS had on file. ![]() As with the first round distributed in April, millions of payments were to be directly deposited by Jan. 29 as part of a new congressional COVID-19 aid package. The IRS may deposit some stimulus payments on debit cards, including the Turbo® Visa® Debit Card, for taxpayers that chose to receive their refund through that method in tax year 2019. The Treasury Department began processing a second round of emergency payments on Dec. Banks are working with the IRS to return and re-route the rejected payments to the correct accounts, but it is not clear how long this process will take, the person said. One of the sources said the IRS used old information for millions of accounts that are thought to be closed or inactive. Where is your money if the IRS had the wrong account And if you used H&R Block or Turbo Tax & got a refund on a debit card, you could have. The IRS did not immediately return a call seeking comment. Intuit TurboTax tweeted on Wednesday: "Unfortunately, because of an IRS error, millions of payments were sent to the wrong accounts and some may not have received their stimulus payment." "For those who don't receive a direct deposit, they should watch their mail for either a paper check or a prepaid debit card," the IRS said in a notice on Thursday. Two banking industry sources confirmed the error, which will delay distribution of the badly needed aid. ![]()
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