Ask Terry Questions Stimulus deposit — same place as taxes withdrawn?

Stimulus deposit — same place as taxes withdrawn?

By Terry Savage on April 10, 2020 | Wild Card

What happens if I had to pay taxes but had the IRS make a direct withdrawal from my account so they will have my bank info? Will I get a direct deposit or will I get a check?

Terry Says

That is unclear at this point. They’ve only talked about how they send refunds. But it’s a good bet they will try to do everything possible electronically — thus sending the money to that account. And if not, you’ll get a paper check to your mailing address. So watch both places! And it won’t be for at least a few weeks!

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