Why you should set up direct deposit with the IRS and correct errors now

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Categories: Health & Fitness, Beauty

5:31 A few years ago, CNET took a deep dive into the Apple event timeline and emerged with a compelling Labor Day hypothesis, which you can read about here. Based on the 2021 calendar, the Labor Day rule would put the September Apple event (and the unveiling of the iPhone 13) on Sept. Though GameStop shares have been jumping in recent days, analysts and experts say they’re doing so because of quirks in the market and not because of actual increased value for the struggling video game retailer.

The same is true for the movie theater chain AMC, which had warned it was near bankruptcy late last year. The second issue to know about is that the IRS sent direct deposit transfers to millions of temporary bank accounts used by tax preparation software like TurboTax and Jackson Hewitt (these accounts are a typical part of the third-party tax preparation process). While many people may need to claim the stimulus check credit in their taxes, the companies have promised to work with clients to ease the process.

As a result, there were delays with second stimulus check delivery to this group, as the IRS and the companies attempted to untangle the problem. Its worst community members, who repeatedly broke Discord’s rules, caused the group to be banned from the platform, the chat app company said in a statement. It added that the ban had nothing to do with any talk of finances or stock that happened among WallStreetBets users.

“Today, we decided to remove the server and its owner from Discord for continuing to allow hateful and discriminatory content after repeated warnings,” Discord said. All this wasn’t the only bad news for the WallStreetBets community. Some groups, such as Social Security beneficiaries, are even required by the US Treasury to use direct deposit. Most people use direct deposit as the method of payment for receiving tax refunds and stimulus checks. The IRS sent out more than 100 million payments via direct deposit with the second stimulus check, and over 80% of people use direct deposit for getting their tax refunds, according to Benefits.gov.

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Also, because stimulus checks are expected to arrive while tax season is still ongoing, filing your taxes early could mean the next check is based on your 2020 filing rather than 2019, which may have certain advantages. Direct deposit would mean you’d potentially receive the new payment more rapidly.

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