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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.
In the meantime, you can visit the following links for the most recent updates:
TurboTax Corona Virus Updates or IRS Corona Tax Relief.
This doesn’t answer the question... does the IRS have our direct deposit info or not? Intuit’s partner Santa Barbara TPG should be able to provide this info to TurboTax support staff.
@JohnA-NJ wrote:
This doesn’t answer the question... does the IRS have our direct deposit info or not? Intuit’s partner Santa Barbara TPG should be able to provide this info to TurboTax support staff.
Is your bank routing and account number for direct deposit on your 2019 Form 1040 Lines 21b and 21d? If so, then the IRS has your direct deposit information.
Thanks for your answer, but in this situation I don’t think the bank info shown on the copy of your return in TurboTax reflects what was actually filed with the IRS. I believe it has to be modified before filing when the intermediary (Santa Barbara TPG) processes refunds to deduct fees.
Perhaps ReginaM’s answer is a vague way of saying, “You’re right! The IRS doesn’t have your account info, and we’re trying to figure out what to do about it.” ... ?
Unfortunately, there are still no clear answers for those of us who chose "Pay With My Refund" with Santa Barbara TPG (SBTPG) acting as the intermediary using direct deposit into a bank account (not a card). This is how I interpret multiple answers I’ve read from TurboTax support staff so far:
* Even though YOUR bank account number appears in the direct deposit section, boxes 21(b) and 21(d) of the 1040 form you access via your TurboTax login, it does not necessarily mean it is the account info that was filed with the IRS.
* More likely, your actual filing with the IRS had a routing/account number for SBTPG so they could receive your refund, deduct the TurboTax fees, and then transfer the adjusted amount to your account.
* If this is the case, it is possible that the IRS does NOT have your correct direct deposit information.
* The TurboTax online support staff appear to have not yet been given guidance on this and are awaiting answers as well.
* SBTPG’s site has a stimulus page that’s been cited on this forum, but as of now it does not directly address TurboTax customers: https://www.sbtpg.com/coronavirus-stimulus-payment-info/
* There is no information the IRS can provide that speaks to this scenario, it is really a question for Intuit and SBTPG to answer.
Looking forward, hopefully, either:
1) There is already an established mechanism in place between intermediaries like SBTPG and the IRS in which they provide the customer’s ACTUAL account number secondarily with the original filing in case it is needed for an occasion like this. If so, the IRS will already have our account numbers and use them, or...
2) SBTPG will receive our stimulus payments and route them right into our bank accounts, just as they did with our refunds, or...
3) SBTPG and/or Intuit are now actively working with the IRS to amend deposit account numbers ASAP for "Pay With My Refund" customers so they can receive their stimulus deposits without taking further action or incurring any delays.
I welcome any corrections if I’m wrong. 🙂 Thanks again to the TurboTax support staff for doing their best under these chaotic circumstances.
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