H & R Block Delays Stimulus Payments to its Customers
It's being reported by some H&R Block users that new Stimulus payments are being delayed, even after they're getting notifications of fund disbursement. After receiving this notification ourselves, we found some interesting info.
As one of the presumably millions of H&R Block customers, we filed our taxes with H&R using their online tax software rather than meeting with one of our agents like we've done for the past several years. Now with 2020 stimulus payment, the IRS sent our payment to us direct deposit our account.
Yet this year; we came to find out that the 2021 stimulus payments were sent to a random account number that we didn't recognize. At this point, we began to call H&R Block. Which ironically was having problems, and dropped every call. It took us 12 times to get the automated system for specific information to us.
A quick trip to their Twitter reveals this little gem, as well as many people extremely eager to know where their money is:
Intentionally Delaying Stimulus Payments?
So what this says is that H&R Block intentionally diverted Stimulus payment funds into THEIR own accounts.
After reading this on Twitter; I pulled up my records from my prior year's e-filing via H&R Block and low and behold: The last four numbers of the account match the numbers that were cited on the IRS site, and what was given to us as the disbursement account as per H&R Block. Yet strangely, this didn't happen last year when we filed with a live H&R Block Representative.
So now, millions of struggling American's are being delayed their payment by H&R Block.
While we don't necessarily know the official reason; one user responded to H&R Block accusing them of holding up the stimulus payments to gain extra interest on all of these funds. Given that the stimulus was well into the billions, that's a great deal of money in interest - even if only a day or two!
As someone who has personally received the last stimulus payment direct deposit last year, and having filed with a live agent vs this past tax season e-filing; it's quite the red flag. Hopefully, everyone receives their payment from them quickly.
We for one, are never using H&R Block again. Not because we were distressed and needed the money right away; but the principle of it all, overall lack of transparency, and frankly - playing with the money of millions of Americans who desperately need that money.
Additionally; some users are now starting to report that fees have been taken out of their payments. One Twitter user stating they only received $67 from their stimulus checks!
This however may be a one off issue, and until more people report on their proceeds, I'm unable to verify if they've taken fees out globally for everyone. I can't begin to speculate, but doubt nothing at this point given the lack of clarity surrounding this process.
We will add more information on this if or when we receive it, and if H&R Block makes an official statement as to why the Stimulus Payments were routed to their accounts rather than directly sent to individual's accounts directly.