Millions of Americans are still waiting to get their coronavirus stimulus payment.
They’ve been checking the IRS’ Get My Payment tool, hoping for news that tells them a payment has been sent and how it was sent.
But some who have expected the payment to show up in their bank account say they don’t recognize the account number noted by the Get My Payment tool.
The IRS has issued updated guidance to help people track down the payments, known as Economic Income Payments (EIPs).
The agency said there are several reasons why the bank account information shown may be a number you don’t recognize.
If you filed a tax return using a tax preparation company, you may have chosen a way to get your refund more quickly, such as a Refund Anticipation Loan (RAL) or a Refund Anticipation Check (RAC).
“In these cases, the Economic Impact Payment may have been sent to the prepaid debit card or sent to you as a check, and the bank information shown in Get My Payment will be associated with that card or with the bank account of the tax time refund product, which may include part of your Social Security Number,” the IRS said.
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But the problem with deposits to these accounts is that taxpayers sometimes use a different preparer from year to year, or the accounts are considered temporary by the tax preparer, so the account the deposit was sent to could be closed or invalid.
The IRS said if it issued a payment to an account that’s closed, the bank will reject the deposit.
“We will then mail your payment as soon as possible to the address we have on file for you,” it said. “Get My Payment will be updated to reflect the date your payment will be mailed. Typically, it will take up to 14 days to receive the payment, standard mailing time.”
No action is needed on your part to ensure the payment will be reissued, the IRS said.
There’s another reason you may not recognize the account number.
If you receive Social Security, Supplemental Security Income, Railroad Retirement Benefits or VA benefits on a Direct Express card, your stimulus payment would be deposited to that account.
“The bank information shown in Get My Payment will be a number associated with your Direct Express card and may be a number you don’t recognize,” the IRS said.
Even if the Get My Payment tool said you should receive a check in the mail, some recipients received a debit card that some threw away after mistaking the card junk mail or a scam.
The IRS said, in some cases, you can request the agency trace a missing payment.
For that, you must have been issued Notice 1444 — those letters from the White House and signed by President Donald Trump notifying you of a stimulus payment that was sent — or you must have received a payment date from Get My Payment.
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Karin Price Mueller may be reached at KPriceMueller@NJAdvanceMedia.com.
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June 23, 2020 at 06:53PM
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Problem with your stimulus payment? IRS issues updated guidance. - NJ.com
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