No, Turbo tax didn't take moves into consideration without warning customers that it may result in some confusion as to customers' direct deposit.
In January 2020, during the distribution of the second round of stimulus payments, an IRS error caused delays in the distribution of some stimulus payments. In an effort to do all that we could to help these customers get the funds they deserved as quickly as possible, we were able to create a secure portal used to update banking information.
Here is what you should expect when you provide information in the secure portal:
- If you filed your 2020 tax return and it has been processed by the IRS, your stimulus will be sent to the account you provided in that return.
- If you provided updated banking information via the TurboTax Stimulus Portal for the second stimulus, that information was given to the IRS so they could deposit a third stimulus payment in that account.
- If a bank account the IRS has on file is closed and your bank rejects the payment, the IRS will either:
- Deposit your stimulus check into the bank account you entered into the TurboTax portal, or
- Send your stimulus by check to the address they have on file for you within 14 days.
If this applies to you, you can get updated information on how you can expect to receive your stimulus payment. If the IRS reissues a payment, they will update the status no more than once a day at: IRS Get My Payment
You can use the free TurboTax Stimulus Registration product to easily provide the IRS with the information they need to calculate and send your stimulus payment.
Here is a TurboTax article with updated stimulus information.
@Detmike208
