I do not believe that there is a way to ensure that the IRS uses the correct checking information.
At this point, we do not have information about how long it will take the IRS to update checking account information.
Filing the 2020 Federal 1040 tax return is the only procedure to update your mailing address and checking account information.
However, we do not know whether the information from your 2020 Federal 1040 tax return will have time to be updated before a third stimulus payment is sent out within the next few days.
We believe that the stimulus payment will go to the bank account or address the IRS has on file for you. You may also receive the payment by check. This TurboTax Help states:
The IRS began issuing the first batch of stimulus payments, and they could arrive as early as this weekend (March 13-14), with more arriving over the coming week. Further batches of payments will arrive during the following weeks. If you’re eligible, check the status of your stimulus payment and the way it’ll be sent to you by going to the IRS Get My Payment Tool, which will be live on March 15th.
Do I need to do anything to get my stimulus check?
You don’t need to do anything to get your stimulus check. The IRS will determine eligibility based on your last tax return (either 2019 or 2020) and will likely send your payment to the bank account where your tax refund was deposited.
Can I change or update my bank information?
Right now, there is no way to change your information for your stimulus check. The payment will be based on the information from your latest tax return and will go to the bank account or address the IRS has on file for you.
Follow the TurboTax COVID Tax Center and the IRS Economic Impact Payment Information Center for further developments.
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