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They are working with the IRS to try to get the money to us as soon as possible, according to messages from their social media team. We should hopefully hear something Friday.
One of the issues that they are finding out is that some banks held the deposits rather than sending them back as required, and at the approval of the IRS, they sent those payments to people. However, Republic did what was required by law, which may be part of the hold up.
@JD.
I have used TaxAct for 20 years, and we had the same issue, only TaxAct wasn’t going to do anything and just let everyone file for it. This afternoon they finally changed their tune and said they were going to work on getting us our money. The issue lies in having fees taken out of the refund.
Hey Bob! I just pulled that info of off the IRS website….
That page was last updated November 27th, so it’s old.
It’s not just those companies–I think it’s all tax prep companies.
@crgray I have the same 290 0.00 amount on my transcript. Do you owe taxes or have a payment plan with the IRS? I have an installment plan and I’m thinking this is the reason I’m having the issue with the stimulus.
We do. However, I thought that this payment wasn’t supposed to be affected by that.
Here’s what I don’t get: I filed jointly with my husband, and my transcript shows what I assume to be the stimulus payments, both with a 290 code and $0.00 amounts on both. We got the first payment, GMP shows our bank account. Yet apparently our second payment was sent to Republic and sent back. What is going on?!