Situation no. 1: You changed your bank account
The first round of COVID-19 stimulus checks also came with unwanted surprises. While millions of Americans received the money via deposit, directly into their bank accounts, some weren’t that lucky. Uncle Sam thought it’s best to deposit them into the account listed on federal tax returns.
For many Americans, this was a problem since they had those bank accounts closed. The IRS doesn’t know when you’re closing your bank account; therefore, it’s unaware of your new bank account.
If that’s the case for you, you’ll most likely have to wait a little longer for that stimulus check. As the IRS stated, Americans who don’t have direct deposit information on their file will receive their money in the form of a check or debit card in the mail.
Psst! Are you guilty of making these eight purchases with your credit card?