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Second Stimulus and TurboTax

Forum|Forum|5 years ago
January 6, 2021
9 replies
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I filed my taxes last year and used the refund to pay for the service, and like many others I'm stuck in limbo regarding the second stimulus payments. If I read all of this correctly, the IRS would have sent payment to TurboTax like they did for my refund last year. Intuit would then need to forward the money like they did from the refund (except this time not taking their payment out). Both IRS and Intuit are pointing fingers rather than solving the problem.

I'll make this clear. If TurboTax doesn't take an active role in resolving this issue and I have to file for a refund credit next year I'm going to be *$&$^@^. I will *never* use this product again even though I've used it most of my life. This is the first ever time I've had any issue that needed TurboTax to step up and take action, and if doing nothing but pointing the blame back at the IRS is the action you take then I guess I've been using the wrong company all these years.

To be frank, finding an electronic filing company isn't what it used to be... there isn't just one company doing it anymore. I probably am not the only person who feels like this. So if you want to continue to be a leader in this business then LEAD us to a solution!

Best answer by SusanY1

Millions of Americans, including some TurboTax customers, were affected by an IRS processing error that delayed payments.

We are happy to share that TurboTax customers who were affected by this error should begin seeing deposits into their accounts as soon as January 8, 2021.

This update may not be reflected in the Get My Payment tool at the IRS due to the focus on efforts to distribute the payments.

These payments will be distributed to the account listed for your federal refund on your 2019 tax return. If you did not have a refund in 2019, did not receive your 2019 refund via direct deposit, or did not file a return, the IRS may not have your direct deposit information and you should expect to either receive a check or to claim the payment on your 2020 tax return.

If you do not see a payment either in your bank account or your mailbox by January 15, 2021 you should claim your payment via the Recovery Rebate Credit on your 2020 tax return. Please hold off filing returns until after this date to ensure that you are preparing the most accurate return possible.

If you should need to claim the credit on your tax return, you are encouraged to file early (but after January 15) to receive these funds as quickly as possible. In TurboTax, you will enter information about the credit near the end of the interview in the Final Review section of the program.

More information about the payments and any additional updates can be found at the following links:

IRS Updates on the Second Stimulus

IRS Statement about Second Economic Impact Payments

Why Haven't I Received My Second Stimulus Check?

TurboTax updates on the second stimulus

SusanY1Answer

Level 15

Millions of Americans, including some TurboTax customers, were affected by an IRS processing error that delayed payments.

We are happy to share that TurboTax customers who were affected by this error should begin seeing deposits into their accounts as soon as January 8, 2021.

This update may not be reflected in the Get My Payment tool at the IRS due to the focus on efforts to distribute the payments.

These payments will be distributed to the account listed for your federal refund on your 2019 tax return. If you did not have a refund in 2019, did not receive your 2019 refund via direct deposit, or did not file a return, the IRS may not have your direct deposit information and you should expect to either receive a check or to claim the payment on your 2020 tax return.

If you do not see a payment either in your bank account or your mailbox by January 15, 2021 you should claim your payment via the Recovery Rebate Credit on your 2020 tax return. Please hold off filing returns until after this date to ensure that you are preparing the most accurate return possible.

If you should need to claim the credit on your tax return, you are encouraged to file early (but after January 15) to receive these funds as quickly as possible. In TurboTax, you will enter information about the credit near the end of the interview in the Final Review section of the program.

More information about the payments and any additional updates can be found at the following links:

IRS Updates on the Second Stimulus

IRS Statement about Second Economic Impact Payments

Why Haven't I Received My Second Stimulus Check?

TurboTax updates on the second stimulus

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J

jag911Author

Level 2

I appreciate the response. Like many others I received the blanket email that issues are being worked finally. Which is all I was pleading to see happen. We haven't received ours just yet but it is too early to worry about that now. Thank you for your time.

M

Mikantor

Level 2

I've not gotten an email

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richfieldmall

Level 3

We are in a similar situation and have similar sentiments regarding this issue.

My family received our payment late, on January 8. However, it is half what my family of three expected -- $900. It should have been $1800.

According to my research, there were to be no offsets or other reductions to the second stimulus payments, regardless of well anything.

So, TurboTax, where's the rest of our money?

I

Irene2805

Level 15

I can't explain why the IRS did not send you the full amount of the stimulus. However, you can make an adjustment on your 2020 tax return for stimulus payments you qualify for, but have not received.

To do this in TurboTax, please follow these steps:

Enter the information in your return.
Click Federal Review at the top of your screen.
On the screen, Let's make sure you got the right stimulus amount, click Continue.
You will be asked about the amounts of first round and second round stimulus payments you received.
TurboTax will then calculate the amount of stimulus payment remaining that you are still entitled to. This will show as a credit on line 30 of the 1040.

@richfieldmall

E

evanteck318

Level 2

@Irene2805

Thanks for these step-by-step instructions. It says that I'm eligible for both stimulus payments. I only received payment #1 so I've followed your instructions and it still doesn't change the amount of refund due to me nor does it show up on line 30 of my 1040 when I review my return documents. Any further suggestions?

S

stewartr6

Level 2

I need to update my direct deposit information, I got a email and when I go to the site it says it can not update the information. Who can I call to get the information updated.

DoninGA

Level 15

@stewartr6 wrote:

I need to update my direct deposit information, I got a email and when I go to the site it says it can not update the information. Who can I call to get the information updated.

Did you use the procedure as shown in this TurboTax support FAQ - https://ttlc.intuit.com/community/internal-revenue-service/help/update-your-stimulus-payment-direct-deposit-information/01/1794099

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richfieldmall

Level 3

Today, Jan. 15, I received a letter and "EIP Card" from the Dept. of Treasury via a private company, "Economic Impact Payment Card, PO Box 247022, Omaha, NE 68124-7022. (It could have passed for a bill or junk mail, although there was a note on the envelope that it was neither).

I activated the enclosed debit card and the balance contains the rest of the stimulus payments that were due. Much relieved.

My best guess is that these funds could have been offset for anything other than a stimulus payment (student loan debts, etc.) and were diverted to a card-based payment for... reasons.

So CHECK YOUR POSTAL MAIL VERY CAREFULLY.

More info here: https://www.eipcard.com/
Also here: https://www.irs.gov/coronavirus/economic-impact-payments

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CValinsky

Level 2

I received my second stimulus check full amount of $600 on January 4th, 2021 even though this is not in tax year 2020 should I be declaring that I received the 2 payments in full, and not claim the rebate tax credit?

C

Corrierasmussen

Level 3

I feel you. I’ve used TurboTax three years in a row and all I’ve had is problems. Last year I could get any help or talk to a real person despite paying the premium fees. And it came late. I always opt to pay fir their services separately so less hands are on my return. This year a tax consultant from turbo tax told me to “file now, get the money, amend it later “. Now I knew that didn’t sound right but he kept throwing in my face he was doing this for twenty years and he knew more.
use credit karma. I tried to this year but didn’t know how to import my last tax return. They’re actually free and they get you your money faster. I know this from personal experience with friends and family. They get their refund in like two weeks tops and it’s direct deposit from the irs.

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susanacano

Level 2

Did you ever get this resolved? I never got my second stimulus payment and the IRS says they sent it to Turbo Tax but that money never made it to me. I’m wondering how many others have the same problem?

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Claire55

Level 2

I did not get my second $600 stimulus. I did receive the first $1200 stimulus. How do i file for a credit for 2nd stimulus?

VolvoGirl

Level 15

You have to file a 2020 return to get any missing stimulus payments #1 or #2. Have you filed yet?

When you go through the federal review tab it will ask how much you got if any. Or to enter your stimulus payment in TurboTax, type "stimulus" (without the quotes) in the Search box, then click the link that says "Jump to stimulus." Say no to the amounts it shows you. Then 2 boxes will open up for each round. If you didn't get one enter a 0 in the box.

After you have entered your tax information and are ready for the Federal Review, it will be the first question.

If you are trying to trigger it, you can go to Other Situations, answer any questions and click Done. The next automatic selection is Federal Review and it will ask about payments received.

The Recovery rebate credit is on 1040 line 30. It either adds to your refund or reduces a tax due.

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Claire55

Level 2

thank you. i can understand you. I will try your way.

A

angiem247

Level 2

First time filing with TT and I did receive my third stimulus. And I cannot get any information from no one to why I have not received IRS say no information found I’m well under the requirements to qualify. . I can’t get any answer from TT if they received it not sent back out to me .

VolvoGirl

Level 15

Turbo Tax does not send refunds. It comes from the IRS. They are backlogged and the IRS Refund Lookup is delayed and doesn't work right. If you efiled and Turbo Tax says it was Accepted you just have to keep waiting.

You can double check your efile status here

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

When you efile you get back 2 emails. The first email only confirms the transmission. The second email says if the IRS (or state) Accepted or Rejected your efile.

When you log into your account you should also see the status and if it was Accepted or Rejected, Started, Printed, Ready to Mail, etc. What does it say?

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angiem247

Level 2

IRS accept my 2020 return as I’m reading comments look like TT client is missing stimulus money that they qualify for . Since they have flow thru bank . But will we receive our money ? And when ?