When the scale of a program is so massive, there are bound to be a few minor issues, and the same is happening with the $1.9 trillion stimulus package. As with the first round, many people are reporting that the IRS has sent their coronavirus stimulus checks to the wrong bank account. If your stimulus payment has also been sent to a wrong account, then detailed below are the possible reasons why and what you need to do.
One reason, and the most likely one, why your check was deposited in the wrong account is because the account number you have on the latest tax return is closed. In this case, the payment will automatically return to the IRS.
You don’t need to do anything to get the payment to the new bank account because there is no way to update your bank account. The IRS, in this case, will issue you a physical paper check or prepaid debit card.
If your usual payment method is via Direct Express card, and you get Social Security retirement and disability benefits, are railroad retirees, or get veterans' benefits and don’t file a return, then also you may face bank account confusion.
Those who get payment via Direct Express card, the IRS "Get My Payment" tool may show an account number connected with your card. You may not know this account number, but since it is connected with your card, you can be assured of the payment onto your Direct Express card once the IRS sends it.
TurboTax or H&R Block users may see different account number
The IRS "Get My Payment" tool will also show a wrong account number if you file taxes with H&R Block, and chose to get a refund on an Emerald Card. In such a case, the “Get My Payment" tool will show the account number related to the card. Even though you may not recognize the account number, you can be assured that the payment will reach your card.
TurboTax users opting for a refund on a Turbo Visa Debit Card would also see a different account number in the "Get My Payment" tool. This account number would also be related to their card on which they will get the coronavirus stimulus payment.
Some TurboTax or H&R Block users, who opted for refund transfer, may also be the victim of their stimulus payment going to the wrong account. When a user opts for a refund transfer, they are basically allowing the tax filing company to take their fees from the refund, and send the balance to the user’s bank account.
So, the tax filing company collects the user’s tax refund in a temporary bank account, and the same account appears on the users’ tax return as well. Though TurboTax and H&R Block say they have provided the IRS with the correct details, things still may go wrong.
Even if the IRS sends the payment to the wrong account, the payment will automatically return to the IRS, which will then send you a paper check or prepaid debit card.