For others, the cash sometimes thousands of dollars came as a surprise. If you no longer have access to a copy of the check, call the IRS toll-free at. When calling the IRS do not choose the first choice re: "Refund", or it will send you to an automated phone line. And, as the IRS points out the tactics are probably evolving, so youll want to stay alert. The IRS just issued an alert to watch for unexpected IRS refunds being deposited into your personal bank account. Taxpayers who filed their returns after the new law was signed were able to take advantage of the change. For additional IRS help, see the Let Us Help You page. Unexpected Electronic Deposit IRS Treas 310 : r/IRS - Reddit Yes, if you need to know whether your federal tax refund check was cashed, you can initiate a refund trace by using one of the following methods: Call us at 800-829-1954 (toll-free) and either use the automated system or speak with a representative. And if you own a home, use the same technique to find a lower price on homeowners insurance. What you need to know about COVID variant arcturus and a new, odd symptom, $7 million settlement reached in lawsuit against Idaho Springs police for using Taser on 76-year-old, Inmates death at the Adams County Jail under investigation, Silicon Valley Bank shutters amid nationwide modern-day bank run, Do Not Sell/Share My Personal Information. IRS direct deposit: Tax refund, stimulus, or something else? The next batch of refunds is expected to go out in mid-June. For related FAQs see the IRSFrequently Asked Questions about Splitting Federal Income Tax Refunds, 2023 Madison County Federal Credit Union. Submit the check immediately, but no later than 21 days, to the appropriate IRS location listed below. If you have been the recipient of an automatic deposit or a check, you will have to return the money to the IRS or risk owing the amount plus interest which grows on a daily basis. Theres always someone who doesnt know its coming, or doesnt know what the payment is for once they get it. As we reported last week, many people were surprised to wake up to an additional tax refund on Wednesday, after the IRS corrected their 2020 returns and determineddue to changes in the tax lawthat they overpaid on unemployment compensation. Do you know of a tax issue that affects a large group of taxpayers? Then, using that information, they file fraudulent tax returns and use the taxpayers' real bank accounts to deposit erroneous tax refunds. Here's how it works. If youre a regular reader of our blogs, you know that we have, for the last few years, featured a different state of the month, and have profiled a number of things about that state. A Colorado native, he joined The Denver Post in 2014 after a decade at The Indianapolis Star. But by then, millions had already filed their tax returns so the IRS owes those filers some or all of the taxes they paid or had withheld from those benefits. All rights reserved, first alerted taxpayers to this scheme in 2018, Oakland Bike Shop Offers Free E-Bike Test Rides, French Bulldog Stolen From Car in Oakland, Steph Curry's 50-Point Game 7 Explosion Vs. Kings Lights Up NBA Twitter, 1 Shot During Gunfight in Oakland: Police, This 28-Year-Old Pays $62 a Month to Live in a Dumpster He Built for $5,000Take a Look Inside. Why are you mailing it to me as a paper check? Contact the Automated Clearing House (ACH) department of the bank/financial institution where the direct deposit was received and have them return the refund to the IRS. Know of a tax issue that affects a large group of taxpayers? You will need to file a 2020 tax return to get the first and second stimulus checks and a 2021 tax return to get the third stimulus check. Note: It is not possible to change your bank information once your payment has been processed. It means the IRS has a different view about your tax return than you do and that requires your immediate attention my friend. Include a note stating "Return of erroneous refund check" and give a brief explanation of the reason for returning the refund check. You wouldnt want to think the government was just being nice, would you? 1 Best answer. So if you receive an unexpected IRS refund check or bank deposit, what should you do?
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