My 2nd payment bounced back to the IRS, at which point TurboTax contacted me to provide my current bank info. I did, and received the payment without issue. Now the Where’s My Refund tool says it is set to send the 3rd payment to the previous, closed account.
Can something be done or do we have to do the same thing all over again?
If you have filed a 2020 tax return and it has been Accepted by the IRS, they will use that bank info for sending your Third Stimulus.
If not, they should use your updated bank info. The IRS tool may not be showing your updated bank account info yet.
Here's some info on the Third Stimulus Payment to help you.
If you have filed a 2020 tax return and it has been Accepted by the IRS, they will use that bank info for sending your Third Stimulus.
If not, they should use your updated bank info. The IRS tool may not be showing your updated bank account info yet.
Here's some info on the Third Stimulus Payment to help you.
same exact scenario for me! However, IRS website says it will be deposited (into the old, closed account) on March 17th. It's now march 19th and no indication of a deposit. Has anyone ran into this as well?
My deposit (3rd stimulus) end up coming on the 17th as stated from the irs website , to my new account I updated with turbo tax for my 2nd stimulus so anyone that updated they account for the second stimulus the irs has the new info for the 3rd
Sorry to hear that , I have Wells Fargo and most people who that bank got there’s on the 17th , maybe it’s the bank you have and it will prob post by Monday
yeahhhh I contacted my bank and they told me if it's not in my account, they have not received anything. @tenishiamumphrey did the IRS tool have the correct banking information for you? It had my old/closed account (like the original post mentioned).
You can update your bank account directly with the IRS. They use the last known bank account (from your tax return) but you can change it after you file. Here is information about how to tell the IRS about your direct deposit if you wish to change it.
@tayalva
well that's what I'm confused about. I had updated that through turbo tax for the 2nd stimulus and received it no problem (like the original post said). TurboTax claims that the IRS now has updated info, but the IRS tool still has my old info. why would they send it correctly for the 2nd stimulus, but not for the 3rd?
Unfortunately, we have been noticing that many of our customers are receiving less than the amount that is due them. We do not have information from the IRS as to why this occurs; however as customers continue to have questions regarding the Economic Impact Payments (EIP), we’re continuing to work with the IRS for guidance. We’re updating our customer and expert-facing articles with information as soon as we get it.
For the most up to date information available regarding stimulus amounts being sent to our customers by the IRS, please review the new FAQs in the article, How will the third stimulus impact me?
You can update your bank account directly with the IRS. They use the last known bank account (from your tax return) but you can change it after you file. Here is information about how to tell the IRS about your direct deposit if you wish to change it.
@tayalva
no ,it had my old account# on the irs website , thats why I was worried it wasn’t coming on the 17th but it actually came to my new account even though the irs website said it would be deposited into my old account
what you just said is contradictory to the email TurboTax sent out:
that doesn’t seem to be the case at all, at least in mine and the user that original posted this issue. So the question is, did TurboTax send that info to the IRS like they claim, or not?
Yes, you are correct, 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 you find that the information does not match the IRS database, then you can ensure that they have the correct and updated information. Here is the link to see your Online Tax Account, where you can check for sure.
The exact same thing happened to me. I updated via the portal and I used the Paypal cash card to have it sent to instead of my bank of America account which was closed.
From what I am seeing from alot of the comments its gonna be a few days delayed. as turbo tax would probably have to send IRS your updated information if it got returned back.
I am gonna say Monday you should maybe see that money
I have the same issue, but now I have an updated date from 3/17 to 3/24 but still with old bank info.
In some cases, the IRS has received a 2020 tax return, but hasn’t yet processed it. In these cases, stimulus payments may be issued to the account on the 2019 tax return.
If the bank information is invalid or the account has been closed, the bank will return the payment to the IRS and the IRS will mail it to the taxpayer by check at the address they have on file.
Please see the TurboTax Help article How will the third stimulus impact me? for more information.
I believe per an email I got the irs will send to TurboTax portal update info if bank rejects 1st attempt if we used it that’s why our deposit date changed but the account shows the same it will not change but check your account you entered on the turbo tax portal for the second one on the 24th it is going there
Thank you very much, that is the first answer that makes sense and not repetitive.
My dates on the IRS Stills shows it was sent on the 17th. my banking information was alread updated from the 2nd stimulus payment so im hoping it will just be resent to this account once the bank rejects it.
I will keep an eye open for the 24th though.
I am using Paypal cash card for the money to be sent into. the sencond one went in to it last time. maybe it just takes a little longer. according to paypal between 5-7 days to show up on the account
Yes that is exactly what the email says for us who used it we get two deposit attempts like last time wait for your date to change
That's Awesome because I really don't want to deal with getting a check. I don't supose you could paste the email you got in here could you? minus ur personal details of course just to help any worriers.
The IRS no longer has a way to update your bank account information for the stimulus payments. In 2020 it was possible to update through the Get My Payment website.
In 2021, your bank account information cannot be changed at the Get My Payment site.
The bank account information in Get My Payment came from one of the following sources:
If your bank information is invalid or the account has been closed, the bank will return your payment to the IRS and the IRS will mail it to you by check at the address they have on file.
Did you read everything that was written above or do you all just copy and paste everything here? Turbo Tax work Along Side the IRS. and if the first deposit fails and you updated your banking information with Turbo Tax the IRS use an anlternative payment.
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