Hello,
I have so many reasons to be upset with the IRS, but I will start with most important and why I know has THEIR interest.
Current situation:
** HERE IS MY QUESTION/CONCERN;
I go into the IRS website to check the status of my third stimulus (after hearing this blessing cause I'm broke/still waiting on 2020 taxes from IRS) = The tracking says I'm going to get a third stimulus BUT has my OLD bank account info. Are they going to try to deposit into this old account again, after I have already updated my account with Turbo Tax for my second stimulus and I have already sent in my correct acct info on my 2020 taxes? (I HAVE NO TRANSCRIPTS SO I KNOW THEY HAVEN'T EVENT STARTED MY 2020 TAXES) I confirmed that with the rep after I called two days in a row and she said my taxes are still at the very beginning. I know my 2020 taxes are a lost cause to stress about I just really would settle for my stimulus to survive at this point in time. Please help!!! Where is the IRS going to send my stimulus ?
What we do not know is how quickly the IRS will update your stimulus information after your 2020 Federal 1040 tax return is filed and accepted.
The IRS will determine your eligibility for the third stimulus payment based on your last tax return, either 2019 or 2020, and will likely will likely send your payment to the bank account where that tax refund was deposited.
In your case, both eligibility and deposit information will almost certainly be based upon 2019 tax information. If this is the case, your stimulus check will be sent to a closed checking account and it will be returned to the IRS.
At that point, will they mail a stimulus check? We do not know. Does the IRS even have a good mailing address from your 2019 tax return? The IRS does not know.
At some point, this IRS FAQ will come into play. We do not know when.
This IRS FAQ My payment was mailed but my post office was unable to deliver it. states:
Once we receive your payment back, you may be able to provide your bank account information in Get My Payment to have your payment reissued as a direct deposit.
If this is the case, then Get My Payment will show “Need More Information,” usually two to three weeks after the payment is issued. At this point, you can enter a routing and account number for your bank account, prepaid debit card or alternative financial product that has a routing and account number associated with it.
If you do not provide account information, your payment will be reissued when we receive an updated address.
Follow the TurboTax COVID Tax Center and the IRS Economic Impact Payment Information Center as further updates are issued by the IRS.