Ank Wrote: It says the letter will just state the method and time of payment and what you should do if you don't receive the funds.
Yeah.. that exert I shared above suggests it miiighhht include more info. But its just unclear. I can't in good conscious tell you exactly what you want to hear, that you are 100% able to use the money with no strings attached in the future, or not. Not until its officially addressed.
Thing is, the IRS might not want to ever officially address it, because its a mistake on their part. And you don't often get govt agencies jumping at the chance to admit a mistake openly, and admit they gave out money where they shouldn't have, and that they don't plan to do anything about it.
All that said, I think for the time being, the best info out there seems to be -- there is no precedent for them asking for stimulus checks back when they have made this mistake in the past.
Neka Wrote: Hi I was wondering if anybody else have updated their bank information to receive payment and also why did it say it was successfully updated and will be sent to my bank but now says it will be mailed
Its unclear. But the IRS faq page suggests that if that's the case, it could be because they weren't able to successfully use the bank info you provided. And will instead mail you your stimulus check.
But more than likely, what's going on is the IRS Portal is having issues and is giving incorrect status updates. We honestly don't know right now because the IRS hasn't outright addressed this yet, at least not that I'm aware of.
Dozens have made comments on this site asking the same question throughout our forums. Refer to our main thread on this and we will try and update once there is clarity on this:
Still Waiting For Your Stimulus Check? This Might Be Why