Regarding the email, TurboTax was telling you what they understood to be in place at that time, but they do not control the IRS. The IRS is doing their best on updating their records, but while they are not updated, they have not choice but to revert to what is on file.
Unfortunately, at this time, treat it as if the information submitted in the portal will not be used by the IRS for this third round of stimulus payments.
The IRS will use the latest information they have in your file which will be:
- bank account information used when filing the 2019 or 2020 tax return or
- bank account information entered on their non-filer registration or
- bank account information entered on the IRS Get My Payment link before December 22, 2020, or
- banking information used to provide benefits for Social Security, Veteran Affairs, or the Railroad Retirement Board.
If the bank account is closed, a paper check will be mailed to the last known address. It takes time for it to be rejected, returned to the IRS, get the address on file, issue a replacement check and mail the check.
They are otherwise processing millions of returns, issuing and in some cases reprocessing millions of checks.
For more information, see: Stimulus payment resources for your 2020 taxes
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