Turbo Tax: Stimulus payments for customers ‘are on their way’

Turbo Tax: Stimulus payments for customers ‘are on their way’

After days of confusion for customers, Turbo Tax said stimulus payments for its customers “are on their way,” according to an email sent overnight by the tax preparer.

“We are happy to share that stimulus payments for those impacted by an IRS error will begin to be deposited starting January 8th,” said Greg Johnson, Executive Vice President and GM at Turbo Tax. “We expect most payments to be available that day, but your bank could take a few business days to process.”

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Turbo Tax is not the only tax preparation company that had issues with stimulus payments reaching its customers directly from the IRS. H&R Block had received its customers second stimulus payments and began paying them out earlier this week via direct deposit and the company’s Emerald Cards.

Turbo Tax was clear in its communication to customers that the company believes the IRS is responsible for the delay to its customers.

“We know how important these funds are for so many Americans and we regret that an IRS error caused a delay,” Johnson said. “This update may not immediately be reflected in the IRS Get My Payment tool.”

Turbo Tax said the stimulus payment will show up as “GOV PAYMENT REF” in the same account where your 2019 tax refund was deposited.

“If you changed your bank account or if your account was closed, your bank has to reject this payment and send it back. We are working with the IRS and Treasury to find an alternative way to deliver your stimulus payment,” Turbo Tax said on its website.

The company said “millions of stimulus payments were sent to the wrong accounts.”

Turbo Tax said if you are a customer and didn’t receive a confirmation email informing you that your payment is on the way they may not have enough information to process your payment.

“We are still working with the IRS and Treasury to find an alternative way to deliver your stimulus payment,” Turbo Tax said.