I used my refund to pay for the small business turbo tax fee. Direct deposit came from Tax Products PE3. Will this affect the stimulus direct deposit from IRS?

Forum|Forum|6 years ago
March 30, 2020
5 replies
39 views

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TurboTax Self Employed Online

JeanneLO

Level 14

We are still waiting for IRS guidance regarding this. If the IRS does not use the same means for the stimulus check as they did for your tax refund, then they will mail the check to the address on the most recently filed tax return they have on record for you.

Once things are finalized we will be able to provide more guidance. You can also stay updated by checking back on the following links.

https://turbotax.intuit.com/coronavirus/

https://www.irs.gov/coronavirus

You will want to update the IRS about any applicable address change you may have had since you filed your most recent tax return. Please refer to Update My Information for more information.

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redtulipdesigns

Level 2

Has there been an update to this?

DoninGA

Level 15

@redtulipdesigns wrote:

Has there been an update to this?

https://www.irs.gov/newsroom/economic-impact-payments-what-you-need-to-know

How will the IRS know where to send my payment?

The vast majority of people do not need to take any action. The IRS will calculate and automatically send the economic impact payment to those eligible.

For people who have already filed their 2019 tax returns, the IRS will use this information to calculate the payment amount. For those who have not yet filed their return for 2019, the IRS will use information from their 2018 tax filing to calculate the payment. The economic impact payment will be deposited directly into the same banking account reflected on the return filed.

mmook87Author

Level 2

I paid I paid my Turbo Tax fee using my refund which resulted in a third party direct deposit however I did receive stimulus payment from the IRS direct deposited into my account today.