Ask Terry Questions Stimulus Check-Changed Banks since 2019 tax filing

Stimulus Check-Changed Banks since 2019 tax filing

By Terry Savage on December 23, 2020 | Wild Card

Hi Terry,
I have changed banks since I filed my 2019 taxes. However, I receive Social Security and that is deposited in the new bank. Will the government match the bank in which my Social Security is deposited? If they do not is there a way to update the direct deposit information?
Thank you!!

Terry Says

I just checked with the IRS and they haven’t developed a policy statement on that yet — whether they will first check for SS (and SSI andSSCI) recipients. But if your new stimulus is direct deposited to the old account, it will “bounce” immediately — and they will likely look for any direct deposits before sending a paper check.

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