So you're saying this is inaccurate? I would be completely fine with what's going on if just one company would come out and admit what the actual problem is instead of deflecting or ignoring that there is a problem...this is insane.
TurboTax, H&R Block, Jackson Hewitt, and Taxslayer are the main ones who use SBTPG tax products.
If thats you then listen up.
First of all what is SBTPG? Plain and simple in a nutshell, they are the company that gives all these Tax Preparation services, temporary tax refund accounts. So what that means is anytime you get a refund back from the IRS for anything, the money first gets sent to a deposit in SBTPGS temporary accounts. It sits there while TurboTax and all these other companies take our a portion of your refund for fees.
After that, the money is then sent back to you. The problem is, for whatever **bleep**ing reason, the IRS has had a MAJOR system error that has sent back all those refunds to SBTPG once again, except into old accounts. Some people got them accurately sent into new accounts.
Meaning the IRS error used all those old temporary accounts to deposit your money into. And thats wherein the problem lies. SBTPG has rejected a portion of those deposits that were unfortunately sent to the old accounts that dont exist anymore.
So if you filed your taxes with a company that uses SBTPG, and you still dont have your deposit by now, theres a 95% chance your **bleep** got rejected bc it was sent to an old account that doesnt exist anymore.
This also holds true for people who are being shown that the second stimmy was deposited into an account with numbers they dont recognize. Of course you dont recognize them. Because theyre the numbers to an old SBTPG account you were never even supposed to see. You basically saw the internal workings of the SBTPG system.
In other words, look forward to waiting weeks for a paper check or EIP card. Seriously, thats what is happening.
Most Banks are now reporting on this to some degree. Some are outright saying its related to SBTPG, others are simply reffering to a massive IRS system wide error. Its all the same though.
