IRS and major software companies warn that stimulus check payments could be delayed
Photo: Chip Somodevilla / Getty Images
The second stimulus check could be delayed for some taxpayers based on a warning issued by the Internal Revenue Service (IRS) and by major tax preparation software companies .
The problem is that the payments deposited directly ended up in temporary or alternative bank accounts used to receive the first round of stimulus payments that the companies had closed. These include refund transfer services used with tax preparation software and prepaid debit cards .
The delay in depositing the second stimulus check could affect up to 14 millions of people who may have lower incomes and be among the people who may need the stimulus money the most , as confirmed by a source from the banking industry to NBC News .
After the new legislation was passed, the second round of stimulus check payments began the distribution of $ 600 dollars from night of the 29 from December via direct deposit by the IRS .
When some of the recipients started tracking their stimulus check through the tool Get My Payment They were surprised to see a different bank account number listed as their own, however, their bank account did not have money from the deposit.
A similar problem arose during the delivery of the first stimulus check in April. Some of the taxpayers used the Refund Transfer services that allow them to pay their tax preparer with the refund itself, an option that is attractive to some filers who also reported late payments due to a clerical error.
For the refund transfer to work, the tax preparer creates a temporary bank account to receive the refund , then take your hand and then spends the rest of the money to the declarant and close the account. But the IRS used the closed bank account in the archive leaving some of the funds in limbo.
Depending on the situation, some of these taxpayers will continue to receive their funds deposited directly into their bank account or on a reloadable prepaid debit card. However, others may face longer delays in receiving a paper check or receiving your credit at the time of filing their taxes from 2020.
In some of In the cases, the money was sent to a different account than the first stimulus payment, as reported by the company of preparation of taxes H&R Block .
The IRS Get My Payment website may display an account number you don’t recognize. If you took a Refund Transfer, it may be reflecting that account number. Check your 2020 return to confirm.
– H&R Block (@HRBlock) January 5, 2021
Related: How to track your second stimulus check and other shipments through the USPS app?
The IRS reported that if the tracking site reflects a direct deposit date or partial account information “then your payment will be deposited there.” The site indicates that the payment date can take up to four weeks. In case the message “Payment Status # 2 – Not Available” appears in the tracking tool, then the only option to claim your payment will be through a claim for a tax credit completing the line 80 of the form 600 0 1040 – SR del 2020.
The place Get My Payment may display an account number that is difficult to recognize. This deposit will be transferred in the form of a direct deposit , paper check or debit card .
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