Did turbotax receive our stimulus check?

[ahmed817]

Will I get my stimulus through turbotax?

[Critter-3]

If you used the refund processing service to pay the TT fees from the federal refund and the balance put on the TT card then the processing bank will NOT be accepting those deposits.  They will be rejected and the IRS will issue a check mailed to the address they currently have on file.  Putting in a change of address with the IRS before filing your return will be a waste of time since it will not be processed fast enough but you can put in a forwarding address with the post office if allowed.

The IRS will stop mailing payments on 1/15  so if you do not get a check in the mail by 1/27 you can get the money on the 2020 return you will file.  The IRS will not start processing returns until 1/27 at the earliest so you have time to wait and see.  

https://www.sbtpg.com/coronavirus-stimulus-payment-info/Economic Impact Payment Information

Last updated: Dec. 30 2020 8:12 am

12/30/2020 Update

The IRS has announced that the second round  Economic Impact Payments(EIP) are being delivered directly to qualified taxpayers, and the IRS has indicated payments will NOT  be delivered to Refund Transfer banks including Santa Barbara TPG. TPG will not play a role in facilitating these payments. The eligibility amount and status of your stimulus payment can be found at IRS.gov/coronavirus.

If the IRS indicates funds were sent to TPG those funds will be rejected back to the IRS. The IRS may indicate funds were deposited to an account ending in the last four digits of your Social Security number. For your protection any account that was established at TPG to facilitate processing of your tax refund was closed when you received your original tax refund, and that account no longer exists.

Unfortunately, TPG does not have any visibility into this information, therefore our agents cannot answer any questions regarding these payments.

TurboTax has NO control over your stimulus check, nor can TT track it or tell you when you will receive it.  The IRS will use the same banking information for the 2nd stimulus that they used for the first one.  If that account (or card) is closed then the stimulus will go back to the IRS and they will mail you a check.

See this information from the IRS:

https://www.irs.gov/newsroom/treasury-and-irs-begin-delivering-second-round-of-economic-impact-payme...

[Jkang770]

You should quit replying to people, it doesn't make it any better.

Problem with Turbotax and their employees and moderators, are making ridiculous excuses and saying and writing the exact opposite of what they have been advising and blogging about since the first stimulus. NO NEED TO MAKE ANY CHANGES. Now Turbotax employees and Moderators are claiming their customers should have made changes to their banking information on file with the IRS.... quit making excuses and these absurd statements about Santa Barbara Bank, pretty sure the bank notified Intuit and Turbotax early on about the problem, being the problem when all along it was Turbotax as the source of the problem. At least H&R Block quickly caught the problem and making every effort in "Making it Right". It has become frustrating reading these replies from moderators and employees with these excuses so quit, in fact dont reply, it is just making worse for everyone since you and all the others are making people feel stupid for not making changes with the IRS after we were told not to make any changes. Thanks for making me feel like an ahole 

[Critter-3]

Once you file a bank account CANNOT be changed ... could not do it for the first check either per IRS anti fraud regulations.   And I am sorry the truth is not to your liking but it is the truth and there is nothing you can do to change it.   

So if the check doesn't arrive by the time filing season opens later this month the missing stimulus money will be on the 2020 tax return.  

From the IRS:

Bank Account Information

Where did the IRS get my bank information, and what if I need to change it? (updated May 15, 2020)

My bank account information has changed or was incorrect. Can I update it using the tool? (updated J...

No. To help protect against potential fraud, the tool does not allow people to change direct deposit information already on file with the IRS.

If we issue a direct deposit and the bank information is invalid or the bank account has been closed, the bank will reject the deposit. We will then mail your Payment as soon as possible to the address we have on file for you, and we will update Get My Payment to reflect the date your payment will be mailed. Typically, once the payment is mailed, it will take up to 14 days to receive the payment, standard mailing time.

This was published in the Wall Street Journal  and begins to explain the timing and how these 2nd payments are going to occur: 

"To avoid sending money during tax-filing season, Congress established a Jan. 15 deadline for making the stimulus payments. Eligible individuals who don’t receive a check or direct deposit by that date will have to request a $600 refund when filing 2020 tax returns. "

That means the IRS is going to have to change how the EIP form that ties to Line 30 works prior to opening up the submission window in late January..... and it's how they are going to ensure that there isn't any unintentional 'double dipping' (I get a stimulus payment and I fail to state that on my 2020 tax return)

The IRS has no Congressional authority to send out payments after January 15, 2021.  The law further states this 2nd stimulus (like the 1st one) is an advance of the 2020 tax return - not the 2021 tax return!

Once we get past January 15, 2021, the only way the IRS has to get the 2nd stimulus to taxpayers is through the 2020 tax return, which I suspect means re-tooling the EIP form that ties to Line 30. 

and sure enough this is what the tax bill states (page 1969 if anyone really cares)

‘‘(ii) DEADLINE.—
23 ‘‘(I) IN GENERAL.—Except as
24 provided in subclause (II), no refund
25 or credit shall be made or allowed
under this subsection after January
15, 2021.

Hot off the press ... straight from the horse's mouth ...

https://www.irs.gov/newsroom/treasury-and-irs-begin-delivering-second-round-of-economic-impact-payme...   

[Jkang770]

Holy crap... that is wrong information like no tomorrow, you could make changes of address and banking information after the first stimulus was issued through the IRS website, it's to keep the IRS up to date on other business matters besides the stimulus funds, for example taxes owed to the IRS... at anytime you can update your information to the IRS, but after the first stimulus Turbotax and other tax preparation companies kept telling No Changes Needed if you received the first stimulus and that was wrong information and most people who use tax preparation services used that advice.... some expert you are hahaha...

[Critter-3]

Changes to the DD already on file could not be made  BUT  if you did not have DD already on file you could add it  and the change of address could happen if you put in a change of address form or filed a return same as you can do now. 

  After 30 years in the business and 8 years of answering questions on this forum I do know what I am talking about and I even post IRS links to support my positions.