Hi. I e-filed with Turbo Tax Online. I'm supposed to receive my refund today in my account. My question is when my bank rejects the deposit. What happens?

[corbinantonia]

Hi. I e-filed with Turbo Tax Online and set up the direct deposit to receive my refund. But then my bank account was closed. I'm supposed to receive my refund today. My question is when my bank rejects the deposit. What happens?

[Carl]

The IRS will cut a paper check and mail it to the address on your return. It will be 4 weeks or longer before you get that paper check.

[corbinantonia]

It will be 4 weeks from what date?

[Carl]

It will be "at least" 4 weeks from the date the rejected deposit is returned to the IRS. It could be longer, as this time of year the IRS pays more attention to correctly filed returns in an effort to get them in, processed, and out.

[corbinantonia]

Ah! I see. Thank you. This was helpful.

[Carl]

Also, I view the wording on the webpage (both IRS and TurboTax) as misleading. The deposit date is not necessarily the date the bank will credit the deposit to your account. IT's actually the date the IRS estimates that they will "send" it to your bank. Then on top of that, it's just an estimate, and not a hard fast guarantee in any way. So just because the IRS transmits the DDD on a specific date, in no way means your bank will receive it on that date, or even credit it to your account on the date they receive it.

[MichelleLO]

If your bank rejects your refund, the IRS will mail you a refund check. Please see the below FAQ for more information.

https://ttlc.intuit.com/replies/3302459