If your return has been accepted, you cannot change banking information in TurboTax.
From the IRS:
What if my direct deposit information has changed or I want to add it for the first time?
On March 30, the I.R.S. said on its website that it would build a portal where people can update their information “in the coming weeks.”
If your return has been accepted, you cannot change banking information in TurboTax.
From the IRS:
What if my direct deposit information has changed or I want to add it for the first time?
On March 30, the I.R.S. said on its website that it would build a portal where people can update their information “in the coming weeks.”
In the coming weeks, Treasury plans to develop a web-based portal for individuals to provide their banking information to the IRS online, so that individuals can receive payments immediately as opposed to checks in the mail.
Has there been any updates to this? I don't see anything on the IRS website that this was ever completed. I closed out my account this past year that I have used for my refund in the past.
BANKING INFORMATION
Your banking information cannot be changed after your tax return has been filed and accepted.
Banking information does not go from TT to the IRS until you file your 2020 tax return and it is accepted. The IRS will begin to accept and process 2020 returns at the end of January 2021.
You enter/change banking information in the FILE section before you file your 2020 return. Changing it on the TurboTax site does not do any good until you file your return and the IRS processes your return. If they manage to start sending out stimulus checks before you can change your information, we hope the IRS provides a way for you to change it with the IRS. Right now there are no new guidelines. If your check goes to a wrong or closed account, it will be sent back to the IRS and then the IRS will mail a check to the address on your tax return.