The short story is that the IRS started making stimulus deposits but an error on their part ending up sending many deposits to the wrong accounts. But the IRS has fixed the problem and started making the corrected deposits starting yesterday (Jan. 8).
The IRS recently began issuing a second round of stimulus payments to those eligible. Unfortunately, because of an IRS error, millions of payments were sent to the wrong accounts and some may not have received their stimulus payment.
We are happy to share that stimulus payments will begin to be deposited on January 8th for millions of our customers affected by the IRS error. We expect most of these payments to be available that day, but banks could take a few business days to process. Payment will be deposited into the same bank account that customers received their 2019 tax refund.
Customers receiving a stimulus payment will receive an email from TurboTax letting them know their stimulus payment is on the way. We have been working tirelessly with the Treasury and IRS to get stimulus payments to our customers. We know how important these funds are for so many Americans and we regret that an IRS error caused a delay.
Please note the following pages for additional information: Why Haven’t I Received My Second Stimulus Check? and TurboTax Stimulus Payment FAQ.
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