Deposits are being sent today for the majority of affected taxpayers. Some banks vary in regard to the time it takes to post funds received to individual accounts.
You will likely see a deposit today if all of the following are true:
- You filed a qualifying 2019 tax return,
- Had a refund on the 2019 tax return,
- Used direct deposit to receive their refund, and,
- Still have this same bank account.
If you do not see a payment either in your bank account or your mailbox by January 15, 2021 you may should claim your payment via the Recovery Rebate Credit on your 2020 tax return. Please hold off filing returns until after this date to ensure that you are preparing the most accurate return possible.
If you should need to claim the credit on your tax return, you are encouraged to file early (but after January 15) to receive these funds as quickly as possible. In TurboTax, you will enter information about the credit near the end of the interview in the Final Review section of the program.
More information about the payments and any additional updates can be found at the following links:
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