The Internal Revenue Service sent millions of Americans’ stimulus checks to the wrong bank accounts in its rush to deliver them, tax preparers say.
The agency “inadvertently sent payments to over 13 million bank accounts that are no longer open or valid,” forcing affected banks to return the money to the US Treasury, according to tax-preparation service Jackson Hewitt.
The estimate is the latest sign that the IRS’ rollout of the $600 coronavirus relief payments suffered from a large-scale glitch as the agency worked to distribute the money by Jan. 15.
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The IRS now says it’s trying to figure out a way to deliver the bounced-back funds to Americans’ correct bank accounts. That marks a shift from earlier this week, when officials indicated that unlucky taxpayers would have to claim the payments on their 2020 tax returns later this year.
“If the second Economic Impact Payment was sent to a temporary account that is closed or is no longer