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Tax rebate direct deposit question?

I am worried about this tax rebate coming.. I filed my 2007 tax returns back in february and since then I have actually closed the checking account that was used for my refund direct deposit. Any idea what will happen with this? I have heard that if there is a problem with the direct deposit I will basically be screwed and never see that rebate. Is there any way to update the IRS with new account information?

It probably will take more than a couple of weeks to see the check - If the last two digits of your SSN are really high, the check probably will not be mailed until late July...

IRS has to transmit the rebate data to the agency that is issuing the rebate. (Rebate checks are not coming from the IRS, they are coming from the agency that issues SS checks.) That agency will transmit the bank info and rebate amount to your bank using the info provided on your return. If they use the same transmission schedule as the IRS - they will transmit on Wednesday, banks will process Thursday, money will hit the accounts Friday, or Monday or Tuesday (depending on bank policy and technology.) Probably that next Wednesday, the bank will send notification to the agency that they could not process your deposit. Then the rebate agency will throw your information into the check batch information based on the last two digits of your SSN - and if you are lucky, your check will go out with the appropriate check batch in June or July.

Unfortunately, there is no way to update direct deposit account information with the IRS.

If the account has been closed, the rebate will bounce when the IRS sends it. When that happens they'll process it for payment by check. This takes about 4 or 5 weeks from the time they send the ACH transmittal. The check will be mailed to the address on your tax return. If you have moved since then, file a change of address with the IRS using Form 8822 and file a Change of Address Notice with the Post Office.

It's not possible to update the account information with the IRS. You'll just have to wait for the paper check in the mail.

You can't update the account number now, but when the direct deposit is rejected by the bank, the IRS will send you a paper check in the mail.

ur not screwed!!! dont worry because the accounti s closed the bank will reject the deposit, and you will have to wait a couple of weeks for the irs to issue you a check

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