Stimulus Payment Going To Closed Account

The irs says because of the speed at which the second payments were issued some stimulus payments may have been sent to an account that may be closed or is no longer active or unfamiliar. When your stimulus lands in a closed account the fact that americans are receiving stimulus cash via direct deposit is a good thing it means they get their money sooner. Closed bank account stimulus check deposits the irs has confirmed that if it attempts to use direct deposit but an account is closed the bank will reject the deposit and the irs will mail you a paper check with the address it has on file for you.

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In these cases payments were returned to the.

Stimulus payment going to closed account. The irs has not confirmed how many stimulus payments went to closed or invalid accounts but the agency has admitted that some checks went to the wrong destinations because of the speed at which. All financial institutions are required to return second stimulus payments in certain circumstances such as when they are sent to a closed account. The problem was that the irs erroneously sent payments for millions of americans to inactive or closed accounts that were set up by tax prep companies to receive refunds for customers.

However paper checks may take weeks longer to arrive than direct deposits. Temporary accounts are closed immediately once the money is transferred to taxpayers so they did not exist when the irs attempted to send some stimulus payments.

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