Second stimulus payment & closed bank account

[NikoleRae]

I have been a TT Max customer for 12 years.

I received both emails from TT “your stimulus is on its way!”

My bank account associated with my 2019 tax refund and EIP1 has been closed. I cannot update my 2020 tax refund with my bank account because the self employed documents will not be ready until 1/21/20. How will I receive my second EIP? 

[DoninGA · Accepted solution]

As stated by the IRS -

Your payment information cannot be changed. If you don’t get a payment and you are eligible to receive one, it may be claimed on your 2020 tax return as the Recovery Rebate Credit.

Go to this IRS get my payment website - https://www.irs.gov/coronavirus/get-my-payment

If you do not receive any other stimulus payments by January 15, 2021, then the stimulus payment for which you are eligible to receive will be entered on your 2020 federal tax return as a tax credit on Form 1040 Line 30.

The TurboTax program will ask about stimulus payments in the Federal Review section of the program.

[Giggles13]

I have a question I filed with turbo but I bank acct from the 1st stimulus is closed it was deposited to the closed bank acct on 01/4/2021 . From what I knew we were not able to change or update that info  I just filed my 2021 taxes will it be deposited from the new one I entered or will it go to the address on file I entered on rebate credit it was already checked on 1200 the first one the 1nd I left at 0.00 because I have not received it is that correct ?

[DoninGA]

---

@Giggles13 wrote:

I have a question I filed with turbo but I bank acct from the 1st stimulus is closed it was deposited to the closed bank acct on 01/4/2021 . From what I knew we were not able to change or update that info  I just filed my 2021 taxes will it be deposited from the new one I entered or will it go to the address on file I entered on rebate credit it was already checked on 1200 the first one the 1nd I left at 0.00 because I have not received it is that correct ?

---

The credit entered on the 2020 federal tax return is included in the federal tax refund.  If you entered a bank routing and account number for direct deposit of a tax refund in the File section of the TurboTax program, then is where it will be deposited.