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.
Note: None of the three stimulus checks (or Recovery Rebate Credits) are considered income, and therefore aren’t taxable. They won’t reduce your refund or increase what you owe when you file your taxes this year, or next. They also won’t affect your eligibility for any federal government assistance or benefits.
@HelenC12 this is a copy and paste run around answer. I know because I got the same answer from another tax expert word for word.
There is a news article in CNBC where Turbo Tax is admitting there is a small group of people whose bank info was sent incorrectly to the IRS and that Turbo Tax has reached out to this "small few". Well, that's me and no one has reached out to me, although I've reached out numerous times for help. Here's the link
What is Turbo Tax doing to help this "small group" because it looks a lot larger to me trying to find non generic copy and paste answers on the internet?
How can I make sure turbo tax reaches out to me as they've said in the article?
This is frustrating having to wait with no real answers on how to move forward. And if there really is no one from turbo tax reaching out to us small few, I need to contact CNBC to let them know the response and info they have from turbo tax is very incorrect and that they have made a mistake and are not reaching out as stated in the article.
Up until yesterday, 3/24/21, I have been getting almost immediate responses. now, no one responds. Here is the link for everyone to see, turbo tax made a mistake and now I believe is being dishonest when responding. https://www.cnbc.com/2021/03/17/turbotax-hr-b[product key removed]t-issues-get[product key removed]lus-check.html
Where is my third stimulus???? Why are you not being truthful? I will be contacting CNBC and Twitter and anyone else I can until I get a straight answer.
We have no control over your stimulus payment. The IRS is continuing to send out batches of stimulus payments weekly--some are deposited directly into bank accounts and some are being mailed (regardless of the method of delivering the previous stimulus payments). Continue to check the status of your payment by checking the IRS Get My Payment tool:
Here is the latest from the IRS:
[T]he next batch of Economic Impact Payments will be issued to taxpayers this week, with many of these coming by paper check or prepaid debit card. For taxpayers receiving direct deposit, this batch of payments began processing on Friday and will have an official pay date of Wednesday, March 24, with some people seeing these in their accounts earlier, potentially as provisional or pending deposits.
A large number of this latest batch of payments will also be mailed, so taxpayers who do not receive a direct deposit by March 24 should watch the mail carefully in the coming weeks for a paper check or a prepaid debit card, known as an Economic Impact Payment Card, or EIP Card.
@Irene2805 please quit copying and pasting answers. It shows you have no true value for your customers. Here is the link where turbo tax admits the mistake and states they're reaching out to those clients https://www.cnbc.com/2021/03/17/turbotax-hr-b[product key removed]t-issues-get[product key removed]lus-check.html
No one has reached out to me and I keep getting the run-around. So now I'll be reaching out on Twitter, CNBC and every other platform I can find with the other thousands of clients where the mistake was made but not being addressed.
@Irene2805 I agree with another replier. Please stop repeating those answers. They are not helpful and you are an employee so the damage control type of responses are not only obvious bit condescending as well. You guys DID have some hand in this just as last time and suggesting I got to the get my payment tool doesnt make any sense because being an expert you should be able to come to the conclusion that thats how I figured out that its the WRONG account. I would only like responses from other customers or employees who won't give me the run around because I'm tired.
The IRS has the information. They opted to use previously filed tax returns before using the information in the portal. They will be issuing and reissuing payments over the next several weeks. The following is a quote from the IRS, which explains where they are getting the information they are using to issue payments.
'''Your bank account information cannot be changed. The bank account information in 'Get My Payment' came from one of the following sources:
They have also stated - ''If your bank information is invalid or the account has been closed, the bank will return your payment to the IRS and we will mail it to you by check at the address we have on file.''' They probably used information in that order.
We cannot tell them to use option 3 for some taxpayers and use option 1 for others - they don't take instruction from TurboTax or any other tax software provider. They are well-aware they have used old information and are re-issuing those payments.
The most recent stimulus payment information can be found here. That is a TurboTax document that is updated continuously. The most current IRS Q and A can be found here. They just started issuing the 3rd round last week and it will take several weeks to get all funds distributed. TurboTax does not have any insider information regarding stimulus payments. We have shared our portal information with them, but we can not dictate to the IRS where to send your payment. We have to follow their rules and guidance as they are the government agency implementing the policy changes. Every time we receive new information, it is updated in the TurboTax link above.
Again, I do not want employee replies. Youre paid to cover turbotax's back side. You guys screwed the pooch last time and did it this time as well. Not my fault and repeating information I obviously know is not going to help. Thank you.
This happened to me too! The last 4 digits that are showing up in the "Where's My Refund" page for the IRS are not my account number nor one I have EVER had. I have only ever used ONE account number with TurboTax to deposit my refund so I'm not sure where my money went. IRS says they sent it on the 17th to an account that doesn't belong to me and no one can help or direct me on how I can fix it. So frustrating!
Please see this IRS answer from their Get My Payment Frequently Asked Questions page under Bank Account:
What if I don't recognize the bank information shown adn I receeive SSA, RRB, SSI or VA benefits? (updated March 25, 2021)
If you did not file a tax return and you receive SSA, RRB, SSI or VA benefits and your benefits are currently deposited to a Direct Express card, then your third Economic Impact Payment will be deposited to that card.
The bank information shown in Get My Payment will be a number associated with your Direct Express card and may be a number you don’t recognize.
For those without direct deposit information on file with the IRS, the IRS will use federal records of recent payments to or from the government, where available, to make the payment as a direct deposit. This helps to expedite payment delivery.
If you don’t recognize the bank account number displayed in the Get My Payment tool it does not mean your deposits were made to the wrong account or that there is a fraud.
If you do not recognize the account number, it may be an issue related to how information is displayed in the tool tied to temporary accounts used for refund loans/banking products. You do not need to complete Form 14039, Identity Theft Affidavit.
Your best decision would be to file your 2020 tax return as soon as possible so that the IRS has updated information directly into their system. This will avoid further calamity, hopefully.
It is important to recognize that the IRS, by definition, is separate from tax software providers.
This is not a run around or a cover up. It is an unfortunate explanation for you, and unwanted news. As one adult to another adult, I acknowledge the frustrating time delay.
TurboTax is not responsible for how the IRS is issuing checks because the IRS has 100% control over issuing millions of checks to millions of people that may or may not have updated their information. The fact is TurboTax did their best to help early on to expedite your and our other valued customers' IRS stimulus payments and had assurance at the time that it would be an effective support.