The 2008 economic stimulus package is a story that won’t die. Many people have been concerned that they haven’t received their stimulus payment via direct deposit by the date originally scheduled based on the last two digits of their Social Security number.
The Associated Press is now reporting that 1,500 stimulus payments have been sent to the wrong bank accounts. That’s a small portion of the total rebates being delivered, but it may explain why you haven’t received yours.
New York-based IRS spokesman Kevin McKeon acknowledged in a statement that about 1,500 payments nationwide went to wrong bank accounts. But he said the problem was dwarfed by the nearly 30 million stimulus payments totaling more than $27 billion that have been issued correctly…
Anyone receiving a misdirected IRS deposit is required to report the mistake to their bank, he said. Anyone who receives a paper check they are not entitled to must also return the money.
Unfortunately, the IRS has not officially explained to taxpayers the exact amount they should expect to receive, and many people have not used this stimulus payment calculator or the one at the IRS to determine what they should receive.
Updated September 4, 2016 and originally published May 16, 2008.