![]() ![]() Financial institutions by law must return the checks sent to closed or inactive accounts, and the IRS said that recipients affected by this error may need to wait to file their 2020 taxes, when they can claim the stimulus payment as a tax rebate. People whose checks were sent to closed or inactive accounts may have to wait weeks or months to receive their second stimulus checks. But that's come with some errors, with an estimated 13 million checks reportedly sent to closed or inactive bank accounts. The money has gone out faster this time around, with the checks deposited directly into millions of bank accounts on January 4 - a little over a week following Mr. In the initial round of payments authorized last year under CARES, it required weeks and sometimes months to distribute the payments to more than 160 million households. The IRS has rushed to send the latest checks after the stimulus payments were signed into law on December 27 by President Donald Trump. Treasury announced that roughly a hundred million more stimulus checkstotaling more than 420 billionare headed to financially. "Some people who received a paper check last time might receive a prepaid debit card this time, and some people who received a prepaid debit card last time may receive a paper check." Faster delivery of funds Earlier this week, the Internal Revenue Service and U.S. "Taxpayers should note that the form of payment for the second mailed may be different than the first mailed ," the IRS said in a statement. two one hundred dollar bills in cash into white paper envelope that lies.
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