My second stimulus check went into my old bank account what am I supposed to do

randilynn27 · ‎January 7, 2021

SusanY1 · ‎January 8, 2021

Unfortunately, there is no option available to update a taxpayer’s bank account for the second round of Economic Impact Payments (“stimulus checks”.) Some taxpayers may receive a check, but the majority will need to claim the credit when filing their 2020 tax return.

You will claim the Recovery Rebate Credit in TurboTax by answering the two questions about the stimulus payments that will appear at the end of the TurboTax interview.

The questions are in the section Federal Review.

Once the information is entered you will see your refund increase or balance due decrease, and TurboTax will enter the amount of the credit on Line 30 of Form 1040 for you.

The IRS is distributing payments through January 15, 2021. Please wait until after this date to submit your tax return so that you will be filing the most accurate return possible.

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Critter-3 · ‎January 8, 2021

The IRS will stop mailing checks on 1/15 so if you don't get it by the time the efiling opens at the end of the month you can apply for the missing money on the 2020 return.

CAUTION to those eager to jump the gun ... if you do NOT enter the correct amount of stimulus the IRS did pay you in advance then expect your eagerness to delay your return being processed. And since the IRS is still suffering from understaffing due to the covid situation and perpetual underfunding and they are also stretched thin managing the last minute tax law/form changes on top of sending out second stimulus payments expect the delays to be long.