We are still waiting for IRS guidance regarding updating or providing direct deposit information for the stimulus payments and how they will be distributed to these type of accounts (prepaid cards). We will have more information once the government finalizes the details.
In the meantime, you can visit the following links for the most recent updates: IRS Coronavirus Tax ReliefTurboTax Corona Virus Tax Center Updates
I understand the deposit is at the mercy of the IRS, but is there any kind of time frame TurboTax can offer us who are out of work and relying on the stimulus? Has the IRS been in communication about this with you ?
The official answer is: "We are still waiting for IRS guidance regarding updating or providing direct deposit information for the stimulus payments and how they will be distributed to these type of accounts. We will have more information once the government finalizes the details."
What I can tell you is that you will get a letter or Email prior to receiving the check.
Based on our best available information: The first group – estimated to cover 50 million to 60 million Americans – would include people who have already given their bank account information to the Internal Revenue Service.
The first group also would include Social Security beneficiaries who filed federal tax returns that included direct deposit information, according to an alert put out today by U.S. Rep. Debbie Dingell, D-Mich. Dingell's announcement said the expectation is that the first direct deposits would hit in mid-April, likely the week beginning April 13.