Right now, there is no way to change your information for your stimulus check. If the bank information is invalid or the account has been closed, the bank will return the payment to the IRS and the IRS will mail it to the taxpayer by check at the address they have on file.
- If the IRS is using wrong Direct Deposit information, that generally means that they did not process or finalize your 2020 income tax return and are using your prior year income tax return information.
Note: None of the three stimulus checks (or Recovery Rebate Credits) are considered income, and therefore aren’t taxable. They won’t reduce your refund or increase what you owe when you file your taxes this year, or next. They also won’t affect your eligibility for any federal government assistance or benefits.