why do you think it was deposited into the wrong account? whose account is it? since the IRS took the account from your tax return, isn't what is on your tax return?
if the account is closed, the money would have 'bounced back' to the IRS and a paper check would be mailed.
IRS FAQ:
a letter about the Payment will be mailed to each recipient’s last known address within 15 days after the Payment is made. The letter will provide information on how the Payment was made and how to report any failure to receive the Payment.
Because the check my status or whatever app told me it was deposited it to a account ending in not the same as mine and I got a letter today in the mail sayin I got my money which is bs
@NCperson Because the check my status or whatever it is on the irs website told me it was deposited it to a account ending in not the same as mine and I got a letter today in the mail sayin I got my money which is bs
The below information may apply to your situation.
According to the IRS FAQs here:
"If you received your refund via a prepaid card or through your tax preparer, you may not recognize the information shown. In some cases, your preparer may have used an account number similar to your Social Security number.
Your bank account information for your Economic Impact Payment is captured from:
If we issue a direct deposit and the bank information is invalid or the bank account has been closed, the bank will reject the deposit. We will then mail your payment as soon as possible to the address we have on file for you. Get My Payment will be updated to reflect the date your payment will be mailed. Typically, it will take up to 14 days to receive the payment, standard mailing time. No action is needed on your part to ensure the payment will be re-issued."
@hehe121
My wife and I are seperated and the check was deposited into an account that I am no longer on. We filed jointly last year but my name is first on the check. It should have been kicked back to the IRS. This mistake is on turbo tax.
It's not the wrong account it was an account without my name on it
I just checked with the banks supervisor and it was deposited on Jan 8th
This link provides the most up to date information available from the IRS: IRS Update
If you have a Turbo Card, this link will be helpful to you: Turbo Card
This link will tell you more about the Recovery Rebate Credit: Recovery Rebate Credit.
Hey, Mike. I am actually having the same problem. Our refund and our 3rd stimulus were deposited into an account that I do not recognize at all. We were able to figure out that it is an account with MVB bank, but we can't get any further information because we aren't the actually account holders. The IRS has told me that I have to wait 5 weeks and then I can place a trace on the refund and stimulus, although because they were deposited on different dates, that means placing a trace on one this Friday and another in April.
I haven't been able to get any real answers. TurboTax keeps telling me that I must have entered the wrong information, but I really don't see how I could have entered a complete routing number and working bank account number that is absolutely nowhere close to our actual ones. Not to mention, I have used TurboTax since 2014 and this is the first time I have ever had a problem.
I don't have any answers for you, but just wanted to say you're not alone.
If your stimulus payment was deposited to the wrong bank account and you have called the IRS Stimulus department, you should be able to do a trace on that deposited payment in 5 business days. If that payment was mailed, they can begin a trace after 30 days of the date it was issued. The IRS states "The third round of Economic Impact Payments are being sent in phases. The IRS started sending the first batch of payments with an official payment date of March 17. If you haven’t received one yet, it doesn’t mean you won’t. We’ll send the third payments each week to eligible individuals as we continue to process tax returns. Payments are sent by direct deposit or mail as a check or debit card. No action is needed by most taxpayers; the payments will be automatic and, in many cases, similar to how people received the first and second round of Economic Impact Payments in 2020. Taxpayers can start checking their refund status within 24 hours after an e-filed return is received. In addition, Where's My Refund provides a personalized date after the return is processed and a refund is approved. People can check the Get My Payment tool on IRS.gov to see the payment status of the third stimulus payment. The IRS will use data already in its systems to send the third stimulus payments. Taxpayers with direct deposit information on file will receive the payment that way. Those without current direct deposit information on file will receive the payment as a check or debit card in the mail.
The first and second Economic Impact Payments no longer appear in Get My Payment.
For information on these payments, view or create your online account. Also check your mail for IRS Notices 1444 and 1444-B.
All I can say is that I spoke to someone by calling the IRS directly yesterday and was told I have to wait 5 weeks. For both. I was given specific dates by this person when I could call back and place the traces. So, I don’t know. Maybe you should also call the IRS to be sure you’re giving correct information. Maybe things have changed. I’m not sure. I will warn you - the wait times are long.
I also kind of feel like no one is actually reading anything I’ve written. When I spoke to the IRS I was told that the refund was deposited. February 26th and the stimulus was deposited on March 17th. Both to the same account. I understand that it might still be too early for the bank to have rejected the stimulus deposit, but I would think maybe by now they would have issued a rejection of the refund.
All this having been said, I am just following the instructions given to me by the IRS and hoping this gets fixed.
In January 2020, during the distribution of the second round of stimulus payments, an IRS error caused delays in the distribution of some stimulus payments. In an effort to do all that we could to help these customers get the funds they deserved as quickly as possible, we were able to create a secure portal used to update banking information.
Here is what you should expect if you provided information in the secure portal.
If this applies to you, you can get updated information on how you can expect to receive your stimulus payment. If the IRS reissues a payment, they will update the status no more than once a day at: IRS Get My Payment
@alycai
Here is the best explanation I’ve found so far. This was from an article on Business Insider (I did select to have my fees paid from my refund).
“During the last rollout of stimulus checks in January, the IRS erroneously sent stimulus payments to holding accounts at TurboTax's and H&R Block's partner banks. These accounts are used when a customer opts into refund transfer, meaning they give the company permission to take its fees out of their refund before sending the refund to their bank account.
Both TurboTax and H&R Block said they provided the IRS with the correct bank accounts for customers this time around, so the mishap shouldn't happen again — but it's not guaranteed.
In any case, if a payment bounces back to the IRS then it will be re-sent in the mail as a paper check or prepaid debit card.”
Yes I have been dealing with this issue and the IRS since March 11 2021. They have done traces with no results but I also called Chase and they identified that the deposits were made by Turbo tax into the incorrect bank account and into an account that is not mine or identified or associated with me in any way! I do not even have a Chase account.
Turbo tax is at fault and it has been 9 months talking with the IRS and all fingers point to Turbo Tax and we need to get some results!!
Once again TurboTax/Intuit NEVER touches any money from the IRS EVER EVER EVER so they cannot help with your refund/stimulus situation even if they could. You need to verify the account number used on the return to confirm what you entered ... the program cannot enter this information for you. If you used a third party processing bank then they set up a temporary account at the bank to receive the funds and forward them as directed.
Once your return has been accepted (received) by the government, they take over the refund status update duties, since they hold the purse strings. The status in TurboTax will remain as "accepted."
Check the IRS Where's My Refund site for the latest word on your federal tax refund, and your state government's refund lookup service for your state’s status.
Does this IRS "Where's My Refund" tool say your funds have actually been sent?
http://www.irs.gov/Refunds
IF SO >>>
Were you having the refund direct deposited to your bank account directly ?
If the IRS has actually sent the funds, the IRS FAQ page says to allow "up to 5 days" due to variations in bank processing procedures and times.
If so did you enter the correct routing & account number for an ACH transfer ? Here is how you can see your deposit information:
Your direct deposit information will be at the bottom of your Form 1040.
To view your 1040 after filing, Sign into TurboTax > Taxes > Tax Timeline > Some other things you can do > Download/print (.pdf).
Please see the following FAQ article below if you entered in the wrong bank account information.
https://ttlc.intuit.com/questions/1901677
Did you have the TT fees withheld from the federal refund and are getting the refund on the Turbo Tax Debit card?
If so the refund needs to go from the IRS to the third party bank to the card. This process can take up to 3 business days or more.
Check the IRS : https://www.irs.gov/Refunds
Check SBTPG: by logging into their website at: https://cisc.sbtpg.com/
Or you can get 24-hour automated info by phone at: https://cisc.sbtpg.com/contact.aspx
Check at Turbo Tax Visa : If you have any questions or need assistance with your Turbo Prepaid Visa Card, please visit TurboPrepaidCard.com or call us toll-free at (888) 285-4169.
Did you have the TT fees withheld from the federal refund and then the balance sent to your bank account or debit card ?
If so the refund needs to go from the IRS to the third party bank to your bank account. This process can take up to 3 business days or more.
Check the IRS : https://www.irs.gov/Refunds
Check SBTPG: by logging into their website at: https://cisc.sbtpg.com/
Or you can get 24-hour automated info by phone at: https://cisc.sbtpg.com/contact.aspx