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paulas-1987
New Member

I need to change my bank account ASAP , so that I am able to receive my stimulus check by direct deposit

 
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bluedeb
Level 15

I need to change my bank account ASAP , so that I am able to receive my stimulus check by direct deposit

If you are filing a 2020 tax return, you will change your banking information when you go through the steps to file your return.  The IRS will most likely use information from your 2019 return.  If your banking information is incorrect, you will automatically be switched to receiving a check.  

 

You cannot change a direct deposit for your 2019 return.  The IRS may or may not have a portal for tax payers to enter their direct deposit information if they are not going to file a 2020 return.  So far no news on how the IRS is going to handle the stimulus checks.

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3 Replies
xmasbaby0
Level 15

I need to change my bank account ASAP , so that I am able to receive my stimulus check by direct deposit

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.  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.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
Critter-3
Level 15

I need to change my bank account ASAP , so that I am able to receive my stimulus check by direct deposit

Well you can't thru TT and the IRS has not posted any info on this subject yet ...  

 

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.  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 which cannot be done for the 2020 return until sometime in January at best. 

 

If they manage to send out stimulus checks before you can change your information, we hope the IRS provides a way for you to change it with the IRS.  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.

 

bluedeb
Level 15

I need to change my bank account ASAP , so that I am able to receive my stimulus check by direct deposit

If you are filing a 2020 tax return, you will change your banking information when you go through the steps to file your return.  The IRS will most likely use information from your 2019 return.  If your banking information is incorrect, you will automatically be switched to receiving a check.  

 

You cannot change a direct deposit for your 2019 return.  The IRS may or may not have a portal for tax payers to enter their direct deposit information if they are not going to file a 2020 return.  So far no news on how the IRS is going to handle the stimulus checks.

View solution in original post

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