Stimulus Payment Account Changed

Q. What happens if I no longer have the same checking account for my direct deposit to go into with the Economic Stimulus Check?

A. The IRS has a great section of Frequently Asked Questions regarding the Economic Stimulus payment. Many questions, like this one are already answered. According to the IRS website at this address, “Typically, the direct deposit will be rejected. After the IRS receives a rejection notice, the payment will be converted to a paper check and mailed to you.” So, if you changed bank accounts since your refund was deposited into that account, you can expect to receive your stimulus payment on paper check at the last mailing address of record for you at the IRS.

For those that chose to have a paper check refund, or owed additional tax with their return, then a paper check will be issued. Keep in mind that the IRS announced an acceleration of payments of about a week based on the original schedule.

Anyone who has not filed a 2007 tax return or has not updated their mailing address recently will have their payment delayed. You will need to contact the IRS directly to resolve these types of problems.

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