Monetary System Glitches Prevent Relief

Quick Read: Several million people who filed their taxes via H&R Block, TurboTax and other popular services were unable to get their payments because the IRS did not have their direct deposit information on file, according to the Treasury, companies and experts.

Many Americans woke up Wednesday expecting to find a payment of $1,200 or more from the U.S. government in their bank account, but instead they realized nothing had arrived yet — or the wrong amount was deposited. Parents of young children complained they did not receive the promised $500 check for their dependent children.

U.S. Treasury Secretary Steven Mnuchin has instructed the Internal Revenue Service to get payments out as fast as possible to help offset the pain of losing jobs and shutting down businesses, but numerous glitches — affecting filers who used tax preparers, parents of dependent children and people with 2019 tax returns still to be processed — are delaying payments and causing confusion.

Several million people who filed their taxes via H&R Block, TurboTax and other popular services were unable to get their payments because the IRS did not have their direct deposit information on file, according to the Treasury, companies and experts.

Credit: https://www.washingtonpost.com/business/2020/04/16/coronavirus-cares-stimulus-check/