Stimulus Payment not being reissued? Is that correct?

[nic422361]

It seems as though it has been decided that checks will not be issued to the clients who used TT and did not get their refund due to your error. Is this indeed correct?

[Opus 17]

It is an IRS error, not a Turbotax error.

If the IRS web site says your payment information is "not available", then you will claim the credit on your tax return and it will be added to your refund.  Due to the time pressure of opening tax filing season, the IRS has decided not to issue replacement checks for direct deposits that were misdirected. 

https://www.irs.gov/coronavirus/get-my-payment

[nic422361]

I am confused now thoughm bc TT website updated and said they are working with IRS and fixing the issue. What is the correct answer?

[dmantakae925]

Piggy backing off this as I cannot find the answer... But how do you claim the second stimulus check's recovery rebate through turbo tax?  I qualified but did not receive one, the only option I see is for the 2020 stimulus check....  If I put in 1200, because I received the first one no problem, in the line that turbo tax provides, will that suffice in order to get the $600 stimulus they just sent out?  Or would I put 0? Even though I received $1200 from the first check?

[Opus 17]

---

@nic422361 wrote:

I am confused now thoughm bc TT website updated and said they are working with IRS and fixing the issue. What is the correct answer?

---

Since the IRS says they are not reissuing payments, I think that is probably the final word, unless the IRS changes their information.  This is what the IRS FAQ says

 I didn’t receive a direct deposit yet. Will I get a second Economic Impact Payment? (added January 6, 2021)

Maybe. IRS updated Get My Payment (GMP) for individuals who are receiving the second Economic Impact Payment on January 5, 2021. If you checked GMP on or after January 5 then:

• If GMP reflects a direct deposit date and partial account information, then your payment is deposited there.
• If GMP reflects a date your payment was mailed, it may take up to 3 – 4 weeks for you to receive the payment. Watch your mail carefully for a check or debit card. (See the FAQ for EIP Card)
• If GMP shows “Payment Status #2 – Not Available,” then you will not receive a second Economic Impact Payment and instead you need to claim the Recovery Rebate Credit on your 2020 Tax Return.

Because of the speed at which the law required the IRS to issue the second round of Economic Impact Payments, some payments may have been sent to an account that may be closed or, is or no longer active, or unfamiliar. By law, the financial institution must return the payment to the IRS; they cannot hold and issue the payment to an individual when the account is no longer active. If Get My Payment shows “Payment Status #2 – Not Available” you will not receive a second EIP.   

The IRS advises people that if they don’t receive their Economic Impact Payment, they should file their 2020 tax return electronically and claim the Recovery Rebate Credit on their tax return to get their payment and any refund as quickly as possible.

[Opus 17]

---

@dmantakae925 wrote:

Piggy backing off this as I cannot find the answer... But how do you claim the second stimulus check's recovery rebate through turbo tax?  I qualified but did not receive one, the only option I see is for the 2020 stimulus check....  If I put in 1200, because I received the first one no problem, in the line that turbo tax provides, will that suffice in order to get the $600 stimulus they just sent out?  Or would I put 0? Even though I received $1200 from the first check?

---

The program is not updated yet.  There are a lot of last minute changes to the tax laws.  The first major update is expected tomorrow (Jan 7) although that might mean morning or evening, and the first update might not fix everything.  Check back every few days.  It will be in the program before e-filing is allowed.

The IRS is not opening e-filing until at least January 27.  Even if turbotax opens e-filing earlier, those returns will only go into cold storage until the IRS opens.  This is not a good year to be in a hurry. 

[dmantakae925]

Awesome! Thanks for the info!

[nic422361]

I am wondering if reissue means DD to paper? Bc TT is saying they gave the account numbers. Both press releases were around same time

[Opus 17]

---

@nic422361 wrote:

I am wondering if reissue means DD to paper? Bc TT is saying they gave the account numbers. Both press releases were around same time

---

That's a good question and I don't think we know yet.  Both the Turbotax update and the IRS FAQ were changed on the same day (January 6).  Here is the Turbotax post.

https://blog.turbotax.intuit.com/tax-news/why-havent-i-received-my-second-stimulus-check-48743/

There are two ways to look at this.

a) the IRS will issue the remaining payments to the correct accounts, but will not re-issue payments that failed earlier in the week, or

b) the IRS will re-issue failed payments even though their FAQ currently says they won't.

I think we just have to wait and see. 

[beaton50]

Found this on Facebook

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 have been working tirelessly on a solution with the Treasury and the IRS. As a result, our expectation now is that within days the error will be corrected and stimulus payments will begin being deposited into the correct bank accounts. We have also re-confirmed with the IRS that they have all of the correct banking information for our customers. 

We know how important these funds are for so many Americans and that everyone is anxious to get their money, now more than ever.  

We will keep you updated on our efforts, and we will stay on this until you get your money.

For general stimulus information, you can visit our Stimulus Tax Center here: https://turbotax.intuit.com/coronavirus/ 

For additional information about stimulus payments, including eligibility, payment timing and distribution details, the IRS urges people to visit IRS.gov for the most up to date information.