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Deductions & credits
Even during “normal” times it takes about four months for the IRS to process an amended return. During the pandemic and due to the severe backlog at the IRS it is taking much longer—six months or more for many amended returns. Do not expect quick results from amending. When the IRS issues a refund for an amended return it will be by check. They do not make direct deposits for refunds for amended returns. You can watch for information here:
https://www.irs.gov/Filing/Individuals/Amended-Returns-(Form-1040-X)/Wheres-My-Amended-Return-1
There is nothing TurboTax or you can do to speed up the processing of your amended return or to speed up the release of the EIP payments. If you used the recovery rebate credit to get the 2nd EIP payment it will be part of the amount in the refund check they will mail to you when they finish processing your 1040X. The 3rd check is often released after a 2020 return has been processed.
The IRS is issuing 3rd stimulus checks on its own timetable.
You can use the IRS Get My Payment site to see what is expected for your 3rd stimulus check:
https://www.irs.gov/coronavirus/get-my-payment