Don't Expect Tax Rebate Soon If You Used TaxAct

If you were one of the many Americans who used the free TaxAct software to file your tax return and chose to have your refund deposited directly into your bank account, you may be waiting awhile for your economic stimulus payment.

This is because, unlike Americans who used other programs to file their taxes, had an accountant file it for them, or filed it through the mail, and who selected the direct deposit option, people who used TaxAct to have their refund done via direct deposit will get their rebate checks via snail mail. Even though the bank account information of those who used TaxAct is on their tax returns, they can't get their rebate directly deposited into their bank account. This is because TaxAct used a third party to accomplish the direct deposits, and everyone who used TaxAct had to fill out a waiver for this to happen. However, that waiver was for a one time only deposit, and TaxAct and the IRS aren't going to go through all of the time, money, and trouble it would take to have TaxAct users fill out another waiver for their rebates to be direct deposited.

Basically, your refund money went from the IRS to TaxAct (through its bank), and then from TaxAct to your back account. So if the IRS tried to direct deposit TaxAct user's rebates, they would go to TaxAct's bank, and TaxAct has nothing set up to send the rebates out this way.

If you're like me and used TaxAct, and your Social Security number has already came up on the schedule of direct deposit dates, at least you don't have to freak out anymore because you haven't gotten your money yet; you'll just have to wait a lot longer to get your check in the mail. It's very annoying that there was no way to fix this problem, but as long as I do get my check, I won't complain. For the Americans who used the TaxAct direct deposit option and needed their rebate soon, however, they've got to be rather disgruntled. I've got more than a month longer to wait for mine than I originally thought, and I hate having to depend on the mail. But I guess if you're getting something free from the government, you have to deal with all of the problems that arise with it.

Just keep in mind that if you owe child support or money on federal student loans, you may get a reduced rebate or no rebate at all, because the government will withhold any of the money you owe from your rebate. It's just another of the stipulations that comes along with this great "gift" from the government.

SOURCES: IRS website

TaxAct website