Treasury Secretary Steven Mnuchin speaks during a Senate Banking Committee hearing on Dec. 1, 2020, in Washington.Jan. 6, 2021, 12:48 AM UTCStimulus checks may be delayed for some customers, the IRS and major tax prep software companies warned this week.
In order for the refund transfer to work, the preparer creates a temporary bank account to receive the refund, takes their cut, then passes on the rest to the filer, and closes the account. But the IRS used the closed bank account on file, leaving some funds in limbo.Depending on the situation, some of these customers will still get their funds automatically direct deposited to their bank account or reloadable pre-paid debit card.
“The IRS Get My Payment website may display an account number you don’t recognize. If you took a Refund Transfer, it may be reflecting that account number,” H&R Block. “But don’t worry — we have sent these payments on to the method you chose for Refund Transfer: direct deposit, check or Emerald Card. The money should be there by the end of the day.”
That’s not soon enough for millions of Americans who were banking on having much-needed relief payments this week.
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