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We are happy to share that stimulus payments will begin to be deposited on January 8th for millions of our customers affected by the IRS error. We expect most of these payments to be available that day, but banks could take a few business days to process. Payment will be deposited into the same bank account that customers received their 2019 tax refund.Customers receiving a stimulus payment will receive an email from TurboTax informing them of the deposit.
We have been working tirelessly with the Treasury and IRS to get stimulus payments to our customers. We know how important these funds are for so many Americans and we regret that an IRS error caused a delay. We appreciate your patience as these payments are processed. This update may not immediately be reflected in the IRS Get My Payment tool. For more information visit our FAQ here. 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. We know how important these funds are for so many Americans and that everyone is anxious to get their money, now more than ever. We will keep you updated on our efforts, and we will stay on this until you get your money. For additional information about stimulus payments, including eligibility, payment timing and distribution details, the IRS urges people to visit IRS.gov for the most up to date information. |
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January 2021
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