My bank account was closed earlier in the year because of a fraud issue so the direct deposit of the stimulus failed. The IRS website said that if it failed they would not send out a check and to file your taxes ASAP to get your stimulus. Well I did that and then a couple days later a stimulus check came in the mail. Now my tax refund is taking forever to get back. I have not cashed the stimulus check. What should I do?
If you claimed the Recovery Rebate credit on your 2020 tax return because you did not receive the second stimulus then subsequently receive your second stimulus payment by mail or direct deposit, I advise that you should wait to receive your refund before taking any action.
It is likely that the IRS will cross-check with their records and adjust your refund. If they do, all is fine and nothing needs to be done. If they do not adjust your refund, then you should amend your return and correct the Recovery rebate credit. With your amended return, you will enclose a check equal to the overpayment.
**Mark the post that answers your question by clicking on "Mark as Best Answer"
Thank you for the reply. I am just worried because it is taking a very long time to get back my refund and I am assuming this is the reason. Usually I get my refunds in a week or less. Everyone else I know got theirs back in a week or less this year as well. My return was accepted on Feb 11th and I still don't have it..