Stimulus Payments May Be Delayed For Those Who Use Tax Preparation Service
FORT WORTH (CBSDFW.COM) — While millions of Americans received a stimulus check this week, many were left wondering where their money is.
A glitch in the system is delaying checks for potentially millions of Americans who used a tax preparation service.
When Tiffany Williams of Fort Worth logged on the IRS "Get My Payment" tool, it showed her stimulus payment has been deposited. However, the bank account listed was not her normal account.
"I don't know what account that was," she said.
Turns out her stimulus check had been sent to what's known as a tax bank account.
This temporary account was set up by her tax preparer as an account for Williams' tax refund. Once the tax preparer took out her fees and transferred the remaining amount of the refund to Williams, the account was closed.
However, this is the account the IRS has on file and is where the government sent her stimulus check.
Williams' stimulus check will most likely be bounced back to the IRS where her check will then be printed and be sent in the mail.
"It will probably be Christmas by the time I get my check," she said.
This glitch could potentially affect millions of Americans and has resulted in a flood of call to professional tax preparers.
"I started getting calls yesterday at 6 a.m. I was still asleep," said Bridgett Cooper, a professional tax preparer in Fort Worth. "I am having to explain to my clients, 'I don't have your money.' We can't print it. Everyone is just at a standstill to see what their next step will be."
Right now, the IRS "Get My Payment" online tool does not allow account information to be changed unless there is no bank account on file. The IRS says this is to protect against fraud.
If you used one of the large tax services, such as H&A Block, Turbo Tax or Jackson Hewitt, and received your refund on a debit card, your stimulus money may be transferred to that card.
