One clarification: If a TurboTax customer chose to have their tax return software fees paid out of their refund, the IRS was given information that sent the refund to a third party bank. TurboTax sends information to that bank so they know what to do with the refund when they get it. That bank, after receiving the refund from the IRS, pulls out the TurboTax fee, pulls out their own fee ($40), and then send the rest to whatever method the customer set up for their refund. If the customer uses a prepaid card or a regular bank account, there is a routing number and account number for the deposit of funds.
Since the IRS would only have the third party bank, there is no way for the IRS to know about your own bank account or prepaid card number.
According to Santa Barbara TPG, a Green Dot Company:
"The IRS will issue direct deposits to taxpayers that received a direct deposit. An IRS-issued check will be mailed to taxpayers that received a check printed from their tax professional's office or a debit card issued through Santa Barbara TPG."
As a professional tax preparer for over 35 years, I interpret this to say that, if the SBTBG was involved in getting your refund and forwarding it to you (either by direct deposit or Green Dot card), you can expect to get a paper check. I believe that if the IRS has your Green Dot (or any other prepaid card) routing number and account number, you should expect the stimulus check to be deposited in that account.
The key here is knowing how you got your refund. Did it come from the third party bank, or possibly the preparer who gave you an advance and then collected the refund when it arrived, or did it come straight from the IRS to your account?
@mikefreemancpa the ones who had fees taken out first had to go through Santa Barbara TPG then onto the turbotax debit card or direct deposit to their bank. I did the turbotax debit card. If I end up waiting for a paper check because of that, I will never ever do business with Intuit again. That includes Quickbooks. That's something they should have handled earlier if they did not. They better hope they figured it out.
NEVER ever again WILL WE DEAL W TURBO TAX. HORRIBLE and I MEAN HORRIBLE CUSTOMER SERVICE... My Wife is telling me to calm down,, BUT TURBO TAX ONLY cares and THEIR $$$$$. THEY DONT care about its customers!!!! Especially DURING a LIFE ALTERING PANDEMIC!!!!!
I think SB is referring to those who got the full refund advance either by check or on a debit card at one of their sites. You know some companies give you the entire refund early. In those cases the IRS would only have the third party bank info because all the money is owed to them.
Has anyone received information on whether or not debit cards provided from TurboTax (2019 tax refund) for direct deposit , will be considered a "bank account" by the IRS to deposit stimulus checks???
I never said you needed a peep talk but because their is no REAL actual answer I’m saying hope for the best.... it’s out of our hands at this point... no need to get an attitude or get smart with anyone... best of Luck
I just talked to someone on TurboTax Intuit and they said that you will receive your payment on your TurboTax prepaid card but they do not have a date yet so you have to keep checking your card next week to see if it's posted on your account
According to the tax rep I talked to at tubocard. The checks will not go on our turbo cards because the irs is bypassing the 3rd party bank they use. However, the irs should have the portal up early next week for us to update our direct deposit info here's the link https://www.irs.gov/coronavirus/economic-impact-payments scroll down to the direct deposit info