COVID Stimulus Payment:(Please allow people who used Turbocard to change our Payment method to avoid having our stimulus payments delayed by having to receive it by mailed check

[Dholmes23]

Hi Everyone. I filed for free(no fees taken out) with TT and did not  get  an adavance with my turbo card. My Turbo card statement says DD: IRS TREAS 310- TAX REF.

Im curious, did those who had preparation fees taken out or recieved an adavance say anything similar or did it mention anything about SBTPG. 

Thank you.

[MXA1521]

@Dholmes23 Edit: I think that was just my state refund, as for federal it just says federal refund.

[memacd62173]

@Dholmes23 

Do you live in California bc I think you’re looking at something dealing with your state taxes, not federal. 

[mrkprrt23]

So I went into a rabbit hole here, and found this. Getting to know the Turbo® Visa® Debit Card 

In it, it says "Turbo Tax works with Green Dot to get the IRS and/or the State your account information" so I am pretty sure that answers our question as to wether the IRS has our Turbo Tax Card account number, right? And that being said, since the IRS does have our account info, then that's where they would send the stimulus check.

[Stinkerbellkity]

From working at TuroTax in 2008 and several years before and after, and I was in a position to know this.

[Stinkerbellkity]

I never said it would work the same way this year.  People seemed to want to know what 2008 was like.

[Dholmes23]

Hello @memacd62173 ,  I live in texas and we dont have state tax returns.

[NCperson]

@mrkprrt23 - it only matters if you requested the TT fees be withheld from your refund.  My comments are specific to that situation

THAT is when SBPTG gets involved.  In that case, I do not believe the DD is going to work. THAT is what SBPTG's FAQ is referring to.  In that case the IRS had to send the tax refund to SBPTG before SBPTG put the remaining refund on your card. That means the IRS doesn't have your account number - it has the temporary number that ensures that SBPTG received the money first.   That is why I do not believe the DD is going to work. 

[Phylicia969]

This is true. Turbo tax already explained it. I don’t understand why people can’t b patient. The web portal will open and then you’ll be able to change it. 

[Phylicia969]

Wait for the **bleep** web portal. Gosh. 

[NCperson]

@SierraCundy - -this will work itself out, but it will take some time.  

These stimulus payments are really an ESTIMATE of what you are ultimately due.  So since it's an estimate either 2018 or 2019 tax returns are being used.  It isn't explained that way in the press, but i suspect that will occur when we get to January.

When the 2020 tax returns are filled out next year, that will be the basis of the ACTUAL,   Your income and dependents will be the basis of this actual rebate.  This is where your recently born child will come into the equation as you can add that child to you actual calculation because as I state, everything is based on 2020.

if the actual amount is GREATER THAN the estimate, that additional rebate will come back to you on your 2020 tax return.

if the actual is LESS THAN the estimate, that extra money you received will NOT need to be returned.  it's a gift from the IRS.  that is written into the CARES ACT.

does that help? 

[bige2443]

Unfortunately you will not get the 500 for the newborn. They are going by the 2019 taxes. You will get a 500 dollar tax credit when doing taxes next year. However congratulations on the new child in your life!

[NCperson]

@bige2443 -  she will get the $500 for the newborn, but just not now... here is the text from the CARES act

‘SEC. 6428. 2020 RECOVERY REBATES FOR INDIVIDUALS.
22 ‘‘(a) IN GENERAL.—In the case of an eligible individual, there shall be allowed as a credit against the tax
imposed by subtitle A for the first taxable year beginning in 2020 an amount equal to the sum of—

‘‘(1) $1,200 ($2,400 in the case of eligible individuals filing a joint return), plus
‘‘(2) an amount equal to the product of $500 multiplied by the number of qualifying children 

[Ewd0614]

When are the Stimulus direct deposits support to sent out? I was woundering if anyone has received anything yet. I guy I work with said he got his this morning.

[mrkprrt23]

@NCperson I'm not sure why you feel the need to say the same exact thing you have been saying this whole time, but in BOLD! I am WELL aware what the question is. I am not confused. I am talking about the same exact situation. At this point, I am throwing out any and all information I find while you are just repeating the same thing.