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Havent been here in awhile I havent seen the comments, but is there any one who recieved their stimulus pay yet

 
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Havent been here in awhile I havent seen the comments, but is there any one who recieved their stimulus pay yet

Both of my daughters received theirs by direct deposit. 

Havent been here in awhile I havent seen the comments, but is there any one who recieved their stimulus pay yet

Millions have and millions have not yet ... patience will be needed as the IRS tries to send out millions ASAP.  

 

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...

             

From the IRS:

 

 

How do I find out if the IRS is sending me a payment?

People can check the status of both their first and second payments by using the Get My Payment tool, available in English and Spanish only on IRS.gov. The tool is being updated with new information, and the IRS anticipates the tool will be available again in a few days for taxpayers.

 

How will the IRS know where to send my payment? What if I changed bank accounts?

The IRS will use the data already in our systems to send the new payments. Taxpayers with direct deposit information on file will receive the payment that way. For those without current direct deposit information on file, they will receive the payment as a check or debit card in the mail. For those eligible but who don’t receive the payment for any reason, it can be claimed by filing a 2020 tax return in 2021. Remember, the Economic Impact Payments are an advance payment of what will be called the Recovery Rebate Credit on the 2020 Form 1040 or Form 1040-SR.

 

 

Where can I get more information?

For more information about Economic Impact Payments and the 2020 Recovery Rebate, key information will be posted on IRS.gov/eip. Later this week, you may check the status of your payment at IRS.gov/GetMyPayment. For other COVID-19-related tax relief, visit IRS.gov/Coronavirus.

 

 

 

The stimulus checks are an advance on a credit you can receive on your 2020 tax return.  If something went wrong or you did not get either or both  stimulus checks  in advance  of filing the 2020 return  you can get it when you file your 2020 return in early 2021—if you are eligible ... it will end up on line 30 of your 2020 Form 1040.

 

https://www.irs.gov/newsroom/economic-impact-payment-information-center-topic-j-reconciling-on-your-...

 

https://www.irs.gov/coronavirus/coronavirus-tax-relief-and-economic-impact-payments-for-individuals-...

 

https://ttlc.intuit.com/community/tax-topics/help/how-will-the-stimulus-package-impact-me/00/1393859

            

We know that the IRS is already revising the 2020 Form 1040 to include the 2nd stimulus, but that change will entail a lot of re-programing at the IRS and for the tax software programs.  It may be at least a month — or longer— before the forms are changed.  Do NOT be in a hurry to file your 2020 tax return until more is known. Give some extra time to the IRS and the software programmers so that the software can handle the new 2nd stimulus, so that you can get it all by filing ONE time.  It is never a good idea to file too early; filing your 2020 return too soon may result in a lot of extra confusion that can be avoided if you wait and file a little later.

 

 

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