It depends on your filing situation. If you had no TurboTax fees or paid the fees by credit or debit card up front *and* you got a refund, the IRS should have your real direct deposit info and the stimulus should go there. However, if you had fees deducted from your refund, the IRS got direct deposit info for Santa Barbara TPG instead of your bank; what will happen there is uncertain. https://www.sbtpg.com/coronavirus-stimulus-payment-info/
If you owed the IRS money for both 2018 & 2019, they may not have your direct deposit info at all. However, the IRS plans on creating a special portal where taxpayers can provide direct deposit info and avoid paper check delays. https://www.irs.gov/newsroom/economic-impact-payments-what-you-need-to-know (This will also apply if SBTPG doesn't forward stimulus checks and the IRS sends them paper checks.)
Very good answer.Apparently,the last time stimulus checks were given to Americans,Turbotax did what you said.Those who owed Turbotax any fees for filing were sent a check and the no fee customers who had their direct deposit info on file received stimulus check via direct deposit with no issues..
Now of course things could be different this time.We should know definitively when Turbotax announces it,hopefully in a few days.
If you had your filing fee taken from your return the IRS does have your personal banking information. Turbo tax takes their fees from the front end. I got this information from a Turbotax agent.
So if we had fees deducted from taxes...which got sent to Santa Barbara....then our personal bank....irs has our bank info correct?
I paid Turbo Tax fees using my federal refund. However, when I review my tax return, the tax form has my bank routing and account number. Does this mean the IRS has my information?
Yes. The government will be able to leverage the direct deposit information in your 2019 tax return to deposit these stimulus funds electronically into your account.
Please confirm if this is true if I received my refund from Santa Barbara bank.
I believe most of us...rec the remaining of our refund from Santa Barbara bank...however...the tax expert is right ...if you look at your tax return...your account number and routing number is visible
@NCOGNDO Yes. The government will be able to leverage the direct deposit information in your 2019 tax return to deposit these stimulus funds electronically into your account.
What do I need to know about the coronavirus stimu ...
@ChondelLO I see that you are a TurboTax employee and EXPERT while @RBBrittain is "only" a CHAMP, but the link he posted from Santa Barbara TPG https://www.sbtpg.com/coronavirus-stimulus-payment-info/ is indeed unclear about whether the IRS already has our direct deposit info.
I elected to have my TurboTax fees deducted from my 2018 Federal refund (I haven't yet filed for 2019). Looking at my 2018 return PDF, my direct deposit info only appears to be on pages relating to Intuit and Santa Barbara TPG, not on the "official" Federal IRS Tax forms.
Direct deposit info is also on a sheet called "California Online e-file Return Authorization for Individuals" but I'm not sure how that will relate to the Federal level.
Should I use TurboTax's free Stimulus Registration just in case to ensure the IRS definitely has my direct deposit info?
Thank you.
Yes, you should.
The website is: CORONAVIRUS TAX CENTER: 2020 STIMULUS
In the coming weeks, the IRS plans to develop a web-based portal for individuals to provide their banking information to the IRS online, so that individuals can receive payments immediately as opposed to checks in the mail. That site is not up yet.
“I am still confused by your site. If we got direct deposit, but fees were taken out through sbtpg will we get direct deposit to our bank? Or will the funds still go through sbtpg before hitting our bank?” Is what I asked SBTPG
In regards to your stimulus checks, it will be directly deposited to your accounts if your direct deposit information is listed on your tax return.
I am still confused then. From SBTPG he is appeared to say if my refund funneled through them I will have to sign up through the IRS portal to get my refund.
Just to clarify you are telling me that though I had fees taken out through SBTPG for turbo tax it will still go through to my personal bank without me having to go through the IRS portal?
If you chose direct deposit, the IRS will have your bank information. For other forms of deposit, 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 Tax Center Updates
Per the IRS:
In the coming weeks, Treasury plans to develop a web-based portal for individuals to provide their banking information to the IRS online, so that individuals can receive payments immediately as opposed to checks in the mail.
In an article it said turbo tax had a way for those of us filing 0 to give our banking info and to file free. It never asked me for that banking info just said it was filed and had to wait to see if it accepted. I can’t wait months for that money. Was the article right did I do something wrong ?
If you entered direct deposit information on your 2018 or 2019 tax return, the IRS should have your bank information.
Please see How do I update my direct deposit bank account info with the IRS? and What do I need to do to get my stimulus check? in the TurboTax article Everything to help you get your stimulus check as soon as possible for additional information.
If you didn't file a 2018 or 2019 return, and didn't need to, see If you don’t need to file your taxes this year in the article linked above.
No I did not file either year due to not working and trying to get on disability. That’s what I was trying to say! It never gave me the opportunity to add my banking info when I tried to file the 1st time with 0 it had all my info from trying and them wanting me to mail in my return. Then the piece popped up about being able to file it never gave me a chance to enter banking info it just said it sent it to be filed.
Register here. Don't try to file a 0 income return or you will not be able to enter deposit info.
This TurboTax website will let you register if you don't need to file: CORONAVIRUS TAX CENTER: 2020 STIMULUS
Just select: If you don’t need to file your taxes this year
Yes I had already try to apply it wanted me to mail it when it said I could do the stimulus part it had all the info and didn’t ask which sucked wish they would of said that before so I could if changed to 1$ to get direct deposit into in Hope the irs gets that portal up soon!
Just jumping in and seeing this.. where is the link on turbo tax for Inputting banking information? I did see that my banking information is on my 2018 return and I did direct deposit
Follow these sites for the most up to date info. Things are changing rapidly. Not all questions have been answered yet.