Thousands of TurboTax users are experiencing problems with getting stimulus payments.
Some, like Michael Wade, are furious.
“If you haven’t gotten it yet, you’re not going to get it until you file as a tax credit and get it on your 2021 tax return,” Wade said.
Those who use the service are affected. Apparently, temporary bank accounts were used to collect filing fees, and those accounts are now closed. It’s to those closed accounts that the IRS sent the stimulus direct deposits.
Wade said it’s going to cause him a financial problem.
“Everybody is hurting right now,” he said. “I could definitely use that.”
TurboTax admitted it is being inundated with complaints. It said it is trying to respond as quickly as possible.
For money sent to closed accounts, TurboTax said that, by law, it must return the payment to the IRS, which said it is exploring options to correct those payments.
What will happen with those payments is still up in the air. TurboTax is directing people to the IRS website and the “get my payment” portal for updates.
Wade said he never thought getting a stimulus payment would be a problem, especially since he got his payment in May without any issues.
Some financial experts blame the IRS’s speed of delivering those payments for the problems. The agency is rushing to find a fix, but doesn’t have a timeline for it.