what happens i put the wrong account number on my tax return and the bank said the momey is gone?

5 Answers

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   dizneygeek on Aug 19, 2011 reply

   If the person whose account it is is honest, you will hopefully get your money but I’ve heard of so e cases where the taxpayer is out of luck since it was their error. The IRS won’t fight to get your money and they will NOT pay you again.

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   card-ron on Aug 19, 2011 reply

   When the bank rejects the direct deposit because of an incorrect account number, the IRS issues a paper check and mails it to the address on the return. You should expect your paper check 3-6 weeks after the initial direct deposit attempt.

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   the tax lady on Aug 19, 2011 reply

   You need to go back to the bank and ASK what happened to the money.

   Either they rejected the direct deposit and returned the money to the IRS (allow 4-6 weeks for a check) or they didn’t reject the money and put it into the account that had the matching number.

   The bank should have verified the last name on the account against yours. If the account number was valid–just not yours–the name still shouldn’t have matched.

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   Bash Limpbutt's Oozing Cyst© on Aug 19, 2011 reply

   If you put the wrong account number on your tax return the bank will automatically reject the deposit. Bank account numbers contain a check digit to prevent fat-finger errors from generating a real account number. Even if it did (very long odds on that) the name and SSN on the account would not match and the bank would reject the transaction.

   When an ACH deposit is rejected, the IRS will cut a paper check and mail it to you. That will add 4 to 6 weeks to the processing and mailing time.

   If you did not receive your refund, call the IRS and they will put a trace on it. If the bank erroneously accepted the deposit to a mis-matched account, they will be forced to return the money to the IRS and recover from whatever account that the funds were diverted to. Eventually you will get your refund though it may take several months.

   The ONLY time that an ACH deposit to a wrong account will stand is if it was a valid account with your name on it. I’ve seen several cases where the account was a joint account with a former spouse and the former spouse took the money. If that’s what happened, you’d have to recover from the joint owner of the account.

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   tro on Aug 19, 2011 reply

   you need to work with IRS to find out where your refund was sent

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