TurboTax expects 'most' customers to receive stimulus payments today

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Friday, January 8, 2021
IRS says some won't receive second stimulus check automatically
While the IRS is sending out the second round of stimulus payments, some are reporting problems with the money being deposited into a bank account they don't recognize.

TurboTax announced Friday that stimulus payments will begin to be deposited Friday for millions of customers affected by an IRS error that sent the payments to the wrong accounts.

The IRS previously admitted to depositing millions of dollars in stimulus payments not attached to the actual consumer.

Many H&R Block customers were impacted and now TurboTax is addressing the issue with its customers.

The tax preparation company said earlier this week in part: "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."

'Payment Status Not Available': IRS says some won't receive second stimulus check automatically

Those waiting for their stimulus money are frustrated with the mistake as many say they had no problem getting their first stimulus payment in their account, so they don't understand why the second payment went to an account not associated with them.

On Friday, TurboTax said the latest payments would be deposited into the same bank account that customers received their 2019 tax refund.

"We expect most of these payments to be available today, but banks could take a few business days to process," the statement said. "Customers receiving a stimulus payment will receive an email from TurboTax letting them know their stimulus payment is on the way."