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vintel7
New Member

Wrong bank account information

Doesn't it just infuriate you? It was a subtle bait and switch scheme. Turbo snuck it in the fine print. The manager or executive that made that poor boneheaded decision will regret it as Turbo lose thousands of customers because of this charade. 

 

Turbo did not overtly and unambiguously disclose that your tax refund would be intercepted by Credit Karma. who is getting into the banking business as "MVP" or whatever it was. The whole thing stinks and I quit Credit Karma over this issue also. 

 

Next Year I'm moving over to H&R's tax platform. 

N8nathen32
New Member

Wrong bank account information

Iam having the same problem I haven’t gotten my second or third stimulus package and on my tax return it says it is deposited into the same bank MVP banking That I’ve never used before at all I though maybe its going onto a prepaid debit card so hopefully that’s the same with you idk but it sucks hopefully they figure it out

N8nathen32
New Member

Wrong bank account information

I found out mVB bank is part of credit karma banking I recently received a credit karma debit card and signed onto it and found out it matches my routing number and account number on my tax return so that explains that when u filed your taxes you clicked credit karma debit card or savings account so that’s where your return is going I was confused also but now just waiting for my money

Dseverson82
Returning Member

Wrong bank account information

I had the same exact thing happen ! For 7 years all info was the same, received my stimulus dd last years returns, it is july 14 2021 i filed February 17 2021 AND STILL NO MONEY BECAUSE TT MESSED UP MY ACCOUNT NUMBER!

Smokie10514
Returning Member

Wrong bank account information

I got the wrong account number new account #

account # [phone number removed]

routing # [removed]

xmasbaby0
Level 15

Wrong bank account information

@Smokie10514 

 

It looks like you tried to post banking information here in the public user forum.  Luckily for you there is a filter that removed it --hopefully before an identity thief saw it.   Do not EVER post your personal information here where it can be seen by scammers and identity thieves who would love to get hold of your information.

 

If you already filed your tax return you cannot change the banking information for your tax refund.   If the refund goes to a wrong or closed account then the money is sent back to the IRS by the bank.   The IRS will then issue and mail a check to the address on your tax return.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
xmasbaby0
Level 15

Wrong bank account information

@Dseverson82  TurboTax does not enter your banking information.   Banking information is entered by the user.  If you chose to have your TurboTax fees deducted from your refund, then the banking information you see on your tax return is the information for the third party bank that will get the refund from the IRS, take out your fees and send the rest to you.

 

Or, if you somehow had your own typo for your banking information this time,  the bank will reject the refund and send it back to the IRS.  Then the IRS will issue a paper check and mail it to the address you put on your tax return.  Expect a delay of at least a couple of weeks to receive your refund.

Here is what the IRS says about entering incorrect banking information

https://www.irs.gov/help-resources/tools-faqs/faqs-for-individuals/frequently-asked-tax-questions-an...

 

 

 

 

Or it might have nothing at all to do with your banking information----millions of 2020 refunds are delayed.

 

The IRS is backlogged —-they are still trying to process millions of 2019 returns; they received millions of e-files on the day they opened for 2020 returns, and now they are burdened with sending out another round of stimulus checks.   Congress changed the tax laws in the middle of the tax season so millions of returns need to be recalculated; and now on top of all that,  they have to gear up to start making monthly child tax credit payments.

 

 

Some delays are resulting from incorrect amounts that folks entered for stimulus checks they received.   Many people have been confused by the recovery rebate credit and completed it incorrectly.  The IRS may delay your refund while they cross-check to see what you received.  Some refunds are delayed because of the tax law changes that went into effect recently.   If your return has unemployment or the premium tax credit on it, that may be delaying it.

 

 

First, check your e-file status to see if your return was accepted: 

https://turbotax.intuit.com/tax-tools/efile-status-lookup/

 

Once your federal return has been accepted by the IRS, only the IRS has any control.  TurboTax does not receive any updates from the IRS. Your ONLY source of information about your refund now is the IRS.

You need your filing status, your Social Security number and the exact amount  (line 34of your 2020 Form 1040) of your federal refund to track your Federal refund:   

https://www.irs.gov/refunds

To track your state refund:    

https://ttlc.intuit.com/questions/1899433-how-do-i-track-my-state-refund

 

https://ttlc.intuit.com/questions/1901548-why-do-some-refunds-take-longer-than-others

If you chose to have your TurboTax fees deducted from your federal refund, that will take some extra time, while the third party bank handles the refund processing.

https://www.irs.gov/refunds/tax-season-refund-frequently-asked-questions

https://ttlc.intuit.com/questions/2840013-does-accepted-mean-my-refund-is-approved

https://ttlc.intuit.com/questions/2724106-my-return-is-accepted-but-still-not-approved-is-there-a-pr...

 

 

 

 

 

 

From this IRS website - https://www.irs.gov/newsroom/irs-operations-during-covid-19-mission-critical-functions-continue

 

 As of June 23, 2021, we had 17.5 million unprocessed individual returns in the pipeline. Unprocessed returns include tax year 2020 returns such as those requiring correction to the Recovery Rebate Credit amount or validation of 2019 income used to figure the Earned Income Tax Credit (EITC) and Additional Child Tax Credit (ACTC). This work does not require us to correspond with taxpayers but does require special handling by an IRS employee so, in these instances, it is taking the IRS more than 21 days to issue any related refund. If, as a result, a correction is made to any RRC, EITC or ACTC claimed on the return, the IRS will send taxpayers an explanation. Taxpayers are encouraged to continue to check Where’s My Refund? for their personalized refund status and can review Tax Season Refund Frequently Asked Questions.

How long you may have to wait: The IRS understands the importance of timely processing of tax returns and refund issuance. We have processed all error free returns received prior to 2021, and continue to work the returns that need to be manually reviewed due to errors.  We are rerouting tax returns and taxpayer correspondence from locations that are behind to locations where more staff is available, and we are taking other actions to minimize any delays. Tax returns are opened and processed in the order received. As the return is processed, it may be delayed because it has a mistake including errors concerning the Recovery Rebate Credit, is missing information, or there is suspected identity theft or fraud. If we can fix it without contacting you, we will. If we need more information or need you to verify that it was you who sent the tax return, we will write you a letter. The resolution of these issues depends on how quickly and accurately you respond, and the ability of IRS staff trained and working under social distancing requirements to complete the processing of your return.

What you should do: If you filed electronically and received an acknowledgement, you do not need to take any further action other than promptly responding to any requests for information. If you filed on paper, check Where’s my refund? If it tells you we have received your return or are processing or reviewing it, we are processing your return, but it may be under review. We’re working hard to get through the backlog. Please don’t file a second tax return or contact the IRS about the status of your return.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
Dseverson82
Returning Member

Wrong bank account information

Or it might be that a turbo tax problem the fact that I have had the same bank account and used turbo tax every year and it auto filled in my information. It is my fault for not double checking but considering I have always gotten returns that way than all of a sudden it’s wrong !? NO ITS NOT ME ITS YOUR **bleep**TY COMPANY

xmasbaby0
Level 15

Wrong bank account information

https://ttlc.intuit.com/community/refunds/help/how-do-i-review-the-federal-refund-method-i-chose-aft...

 

 

What are you seeing ----and where are you seeing it --- that makes you believe that the wrong bank information was on your tax return?

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
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