Will my 3rd stimulus payment be direct deposited using the updated info I gave Turbo Tax for the 2nd payment? IRS site says it’s using the previous acct. which is closed.

[Cgrosklos]

My 2nd payment bounced back to the IRS, at which point TurboTax contacted me to provide my current bank info. I did, and received the payment without issue. Now the Where’s My Refund tool says it is set to send the 3rd payment to the previous, closed account.
Can something be done or do we have to do the same thing all over again?

[JamesG1]

At this point, 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:

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.

[Cgrosklos]

Hi James!

Thank you for the reply. The TurboTax help selection you've copy/pasted echoes the IRS website, and matches the info provided previous to distribution of the 2nd Stimulus Payment, with the IRS site stating that if the Direct Deposit was rejected, a check would be mailed. As the account the IRS had on file had closed, I resigned myself to waiting for a mailed check. Instead, I received an e-mail from TurboTax w/ the subject:

"CRITICAL STIMULUS UPDATE: Update Your Stimulus Payment Direct Deposit Information"

I was asked to provide updated direct deposit account information to TurboTax's "secure portal" and told that I would receive my stimulus payment within 5 business days of submitting that updated info. I provided it and received the payment via direct deposit within that window.

I am just confused as to why the IRS appears to have reverted to using my previous incorrect direct deposit info instead of the updated info provided by me to TurboTax then from TurboTax to the IRS. That confusion is compounded by TurboTax's "Stimulus check FAQs" page, which states:

"We have confirmed with the IRS that they have the accurate banking information for all TurboTax filers, which the IRS is able to use to deposit stimulus payments."

...which is, at least in my case, inaccurate. Both TurboTax Help and the IRS website state that I am personally unable to update that information, but TurboTax as an entity is not only obviously able to, but already had for my previous payment. This updated information apparently vanishing could be the fault of the IRS (failure to save, accidental deletion, etc.) or a mistake/oversight in TurboTax's Banking Info "Confirmation Process."  Ultimately it doesn't really make a difference to me where the error occurred. I am simply requesting that my previously updated direct deposit info, already used for my 2nd stimulus payment, be given to the IRS (again) so that my 3rd payment arrives swiftly, without the need to repeat the rigamarole. 

Thanks so much! Let me know how to proceed! 

[KathrynG3]

If your bank account information which was updated for the second stimulus payment and successfully used, was then used when filing your 2020 tax return, the IRS should have your most recent information. 

To find out why the Where's My Refund link has not been updated for the most recent information, you would need to reach out to the IRS directly and ask them to confirm what account is on file, since the most recently filed information is not reflected in their Where's My Refund link. 

To contact the IRS, call 1-800-829-1040 and they are open Monday through Friday, 7 AM to 7 PM. For more contact resources, see IRS Let Us Help You.

For more information about the third stimulus, see this article for more information: IRS begins delivering third round of Economic Impact Payments to Americans.

[mossman43]

so i hope it happen the same because i really need my money asap

[DianeW777]

It should be deposited with the most recent information provided on your 2020 tax return. The first round of payments for the third stimulus will not the full amount.  The IRS will continue to send payments and process returns at the same time. They are behind and also follow the instruction they have been given.  Continue to watch for the rest of your third stimulus payments.  Here is the most recent updated information for the third economic impact payment (EIP) stimulus payments. IRS EIP3 page 

[Cgrosklos]

Thank you for the reply Kathryn!

If your bank account information which was updated for the second stimulus payment and successfully used, was then used when filing your 2020 tax return, the IRS should have your most recent information. 

I haven't filed my 2020 taxes yet.

To find out why the Where's My Refund link has not been updated for the most recent information, you would need to reach out to the IRS directly and ask them to confirm what account is on file, since the most recently filed information is not reflected in their Where's My Refund link. 

The IRS has taken great pains during this disbursement of this 3rd stimulus to discourage people from contacting them with questions like this, saying in several different areas that representatives would have no more information than is already available on the website.

[Cgrosklos]

Thank you for your reply Diane!

It should be deposited with the most recent information provided on your 2020 tax return.

I haven't filed my 2020 return.

The first round of payments for the third stimulus will not the full amount.  The IRS will continue to send payments and process returns at the same time. They are behind and also follow the instruction they have been given. 

The Get My Payment tool specified a date for direct deposit (Mar 17th) and the account to be deposited to, which is incorrect. Thank you for including a link to the IRS page, but please know that I have read the whole thing, and there is no answer for why they have the incorrect account after being provided the correct one by TurboTax for the 2nd stimulus, which is especially galling after TurboTax went as far as to announce that the IRS had correct info for all of their customers.

As has become obvious in the last week+, I am not the only customer with this problem. I would like an answer, and for TurboTax to hop-to and fix this issue.

[KathrynG3]

The best thing to do at this point is to file your 2020 tax return. The sooner the IRS has the correct information established directly in their system, the better it is for you.

Regarding the stimulus payment update via TurboTax that the IRS did not retain, it is the responsibility of the IRS at this point. 

Unfortunately, the information submitted in the portal will not be used by the IRS for this third round of stimulus payments, you are correct. The IRS is in charge of distributing money. They will use the latest bank account information they have in your file which will be:

• Your 2020 tax return.
• Your 2019 tax return if your 2020 return was not processed when the IRS started issuing payments.
• Information you entered on your Non-Filer registration in 2020.
• Information you entered on Get My Payment in 2020.
• A federal agency that provides you benefits, such as: the Social Security Administration, Veteran Affairs or the Railroad Retirement Board.
• Federal records of recent payments to or from the government, where available, for those without direct deposit information on file with the IRS.

If the bank account is closed, a paper check will be mailed to the last known address. 

See: Get My Payment Frequently Asked Questions under Bank Account.

@Cgrosklos

[chadus83]

I Think Turbo Tax need to offer its customers and update on what happened to all our banking information which was sent to the IRS. Because if everyone's updated information was sent on the 2nd stimulus. they should have it on file period.

My deposit date changed as I am assuming it went to my closed bank account. but they have sent it to my new bank account on the 2nd stimulus. which was updated with the turbo tax portal tool.

[LenaH]

Per the IRS, the third stimulus will be sent to the account used from your last filed tax return or information you entered in the Get My Payment tool.

In addition, if the account was closed or no longer active, the bank is required to return the stimulus payment. Your payment will be issued as a check to the address we have on file for you. This is generally the address on your most recent tax return or as updated through the United States Postal Service (USPS).

Questions and Answers about the Third Economic Impact Payments — Topic G: Receiving My Payment

@chadus83

[chadus83]

You Keep saying that but did you read that I was talking about Turbo Taxes Portal Updating banking information?????

[Cgrosklos]

Thank you for your Reply @KathrynG3 

As an update, the IRS attempted a 2nd direct deposit on March 31st TO THE SAME CLOSED ACCOUNT

"The best thing to do at this point is to file your 2020 tax return."

Crazy coincidence that the best thing I could do is also the best thing for TurboTax, the tax filing company.

"The sooner the IRS has the correct information..."

They did have the correct information...in January, when TurboTax gave it to them. 

"Regarding the stimulus payment update via TurboTax that the IRS did not retain, it is the responsibility of the IRS at this point."

Of course it is. But TurboTax issued a pre-rollout statement saying the company "made sure" the IRS had the correct Direct Deposit info for its customers' 3rd stimulus. Then when millions of bounced back deposits exposed that as false, it sent out an e-mail explaining that any 2nd Direct Deposit attempt would be to the account provided by TurboTax for the 2nd stimulus, which also was false. Addressing these falsehoods and the fallout from them is most definitely the responsibility of TurboTax.

"Unfortunately, the information submitted in the portal will not be used by the IRS for this third round of stimulus payments, you are correct."

Yes, I know I am. You say "will not be used" as if this totally contradictory information was known before the stimulus was rolled out. Thanks for holding onto it until it is of no help to anyone.

Thank you for finishing up with the usual copy/paste of the previously copy/pasted info.

[Cgrosklos]

Thank you for the reply @LenaH 

Using a screen capture of the previously copy/pasted info is very eye-catching, even if it doesn't help answer any of the actual questions here. Does break up the visual monotony so thank you.

[chadus83]

It's a joke to think that we all got an email saying in the email that if the IRS send a payment to a closed account they will attempt to send to the banking information you used when updating in the turbo tax portal.

Now I am getting sent a check and i don't even live at that address any more.