TurboTax Filers Should ‘Expect’ Stimulus Check Deposits Friday
If you've received your stimulus payment already - congratulations! But just like you waited, others are still waiting for the little $600 payments to hit their accounts. More specifically, Americans who filed with TurboTax and H&R Block are the ones up ***t creek right now without a paddle.
But here's some good news for you - TurboTax says that its customers can expect to see their stimulus check deposits to hit their bank accounts today (probably in that 'pending' state), Friday, January 8.
The delay comes after an IRS error that sent the payments to the wrong accounts for millions of Americans. The IRS previously admitted to depositing millions of dollars in stimulus payments not attached to the actual consumer. That's....an unfortunate mistake.
TurboTax released the following statement this week:
"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."
TurboTax says that this round of checks would be deposited into the same bank account that customers received their 2019 tax refund.
Keep in mind that although TurboTax is processing the payment today, banks may still take a few business days to process it for you.
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