The truth is no one knows ... the stimulus checks are not expected out for a couple of weeks or maybe a month so patience will be needed. And all of the checks will NOT be sent all at once ... they will go out in batches like they did the other 2 times this happened. The IRS doesn't have the personnel or the equipment to handle this volume AT THE SAME TIME they are processing millions of returns with a reduced workforce due to the virus. So Patience please as everyone deals with this impossible situation.
Now a lesson on the debit card & the processing bank .... when you use the processing bank to withhold the TT fees from the fed refund you allow/direct the IRS to send your refund to the temporary account at the third party processing bank where the bank & TT fees are paid out and the balance is sent to either your bank account or debit card OR to a newly issued card. The temp account number is what is printed on your form 1040 and is the account number the IRS has on file. Once this transaction concludes the temp account at the processing bank is CLOSED permanently. If you choose this option again next year then a NEW TEMP account is opened for this transaction ... anyone who has done this more than once can verify that there is a different account number on the 1040 every year .
NOW ... what is in question is what path the stimulus checks will take IF you used a processing bank as the intermediary to receive your tax refund....
> Will the IRS mail the checks directly to the taxpayer ?
> Will the IRS try to DD them to the processing bank and will the bank refuse them which means the IRS will have to convert to a mailed check to the address on the most current return filed?
> Will the processing bank figure out a way to reactivate the closed accounts for a second use in one tax year?
> What happens if the stimulus check arrives BEFORE the refund check ?? Will the processing bank know the difference ?? Will they take the fees from that check ?? Will they be able to process the refund that comes later ??
As you can see Congress has tasked the IRS and all these processing banks with a logistical nightmare… code will need to be written, tested and approved before any checks can go out. This is not a simple flip of a switch kind of fix and this is nothing anyone could have for seen and have already written into the programming. So some time will be needed to come up with and implement a system that will work smoothly and during a global pandemic no less. EVERYONE needs to be understanding and patient. Don't plan on any money showing up at any time and just be thrilled when it does show up.
Watch here for direct info from the bank TT uses : https://www.sbtpg.com/coronavirus-stimulus-payment-info/
NOW what you CAN do to be proactive ... if the address on your most recently filed tax return is not correct then immediately mail in a form 8822 to update your address just in case the check must be mailed to you ... it is an easy fill in the blank form your can then print and mail : https://www.irs.gov/taxtopics/tc157
