IRS Issues Additional Information for EIP Recipients
January 11, 2021
As the Internal Revenue Service continues to address the error that caused millions of economic impact payments to be incorrectly routed to temporary or incorrect bank accounts, the IRS on Friday said that, together with tax industry partners, it is “taking immediate steps to redirect stimulus payments to the correct account for those affected.”
The IRS directed EIP recipients who have not yet received direct deposit to continue monitoring their bank accounts in the coming days. “The IRS emphasizes that the information taxpayers see in the Get My Payment tool, including account numbers and potential deposit dates, may continue to display unfamiliar account numbers as the IRS continues to work through and update this issue. No action is necessary for taxpayers as this work continues; they do not need to call the IRS, their tax provider or their financial institution.”
Meanwhile, some EIP recipients may receive their payment via mail, either as a paper check or prepaid credit card. The IRS reminded taxpayers that do not receive a payment to claim the Recovery Rebate Credit when filing their 2020 tax return electronically. Read more.