Can TurboTax help me figure out if the IRS has my banking information on file? In order to know if my stimulus check will be direct deposited.

[Texas Roger]

Look at your most recent tax return (2018 or 2019) to find the direct deposit information that the IRS has. You can find it on form 1040 near the signature line or on the filing instructions prepared by TurboTax. If it is correct, you don't need to do anything. 

If you have not filed a tax return in the last two years, you can use this web site to enter direct deposit information: https://turbotax.intuit.com/stimulus-check/

If it is not correct or if there is no direct deposit information on the tax return, you will need to wait for the IRS to open up a portal for you to enter it online. It is expected soon. Use this to track it: https://www.irs.gov/newsroom/economic-impact-payments-what-you-need-to-know

[Redladyanna]

I just turned in my 2020 taxes and the IRS is at stage one. Does it mean they have my direct deposit information?

[Redladyanna]

My 2019 taxes didn't have my direct deposit information but Turbo Tax sent in my 2020 form with the information. How long will it take the IRS to process the information I added this year.

[EbonyL122824]

@Redladyanna You can verify the federal refund method you chose on the Electronic Filing Instructions for your 2020 Federal Tax Return page, next to Balance Due/Refund. To see the page, follow the instructions here. There is no way to know when the IRS will process anything and or how long it will take.