Wednesday is deadline to update banking information for stimulus payment

National

TAMPA, Fla. (WFLA) – If you haven’t received a stimulus payment yet, it could be because the IRS doesn’t have your banking information.

The deadline to provide your banking information is Wednesday at 12 p.m. You can do this on the IRS website. The IRS started with direct deposits and is soon moving on to mailing out paper checks.

If the IRS has to send you a check, it could take months to receive it.

“Those checks will go out from now until September, so that’s quite a ways, especially if you’re unemployed and your really waiting on that check, that’s a long time to wait,” said Celine Patore, a financial advisor.

Some people report that they see an error on the website when they try to update. Here’s what Pastore says about that:

“There’s a number of reasons why you might be getting an error,” she said. “One of the reasons could be that you’re currently receive social security or veteran benefits. If that’s the case, they’re going to use a separate system because they already know what your direct deposit information is. You’re already getting those benefits from the government so there are no worries there.”

It could also be that you don’t qualify, she said. Check your income and make sure you are entitled to the payment.

Some people have told Better Call Behnken that the IRS website shows a deposit in their bank accounts, but the money is already gone.

In that case, call you bank and track down where the money went. Report fraud to the IRS, but keep in mind that creditors can get this money to settle debt, so they may have retrieved it before you.

Copyright 2020 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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