Coronavirus stimulus checks: Where is the missing money going? - USA TODAY

Americans are reaching out to tax preparers and lining up at their offices around the country to find out what happened to their stimulus checks.One answer: The IRS sent those missing payouts to an intermediary bank account if a client got an advance on their tax return, tax professionals say.Clients tipped tax preparers off to the problem when they used Get My Payment, the government’s new stimulus deposit tracking portal, and uncovered that the payments of up to $1,200 for individuals were sent to an account number they didn't recognize.Agencies that help people file for government-issued refunds are receiving an influx of calls regarding the one-time payout meant to be disbursed to 80 million Americans this week. She discovered that the unrecognized digits that people found listed on the portal were linked to refund transfers accounts, often created on behalf of taxpayers who want preparation fees taken out of refunds so they don’t have to pay preparers upfront.“Those last four digits on the Get My Payment portal match the transfer provider's information that has been submitted to the IRS,” Parchment said.After you file your taxes with a tax professional, transfer banks such as MetaBank, Republic Bank and Santa Barbara Tax Product Group set up temporary accounts for taxpayers who want a refund advance or to deduct tax preparation fees from a refund.