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polarbear244
New Member

Will my stimulus deposit be made using the direct deposit information I provided to Turbo tax if I had the cost of tax preparation deducted from my refund?

 
5 Replies
RobertG
Expert Alumni

Will my stimulus deposit be made using the direct deposit information I provided to Turbo tax if I had the cost of tax preparation deducted from my refund?

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:

IRS Coronavirus Tax Relief

TurboTax Corona Virus Tax Center Updates"

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polarbear244
New Member

Will my stimulus deposit be made using the direct deposit information I provided to Turbo tax if I had the cost of tax preparation deducted from my refund?

Thanks but no thanks. The payments are going out as we speak and you folks still can't answer this simple question. It's sad really.  Your company has exerted great effort to provide people who don't do their taxes with a way to ensure their payment is coming as opposed to long time tax filing customers. Thanks for nothing Intuit/TurboTax

LeonardS
Expert Alumni

Will my stimulus deposit be made using the direct deposit information I provided to Turbo tax if I had the cost of tax preparation deducted from my refund?

In order to deliver money as quickly as possible to those who need it, the IRS is sending stimulus payments to eligible taxpayers who filed a tax return in either 2019 or 2018 and chose to receive their refund via direct deposit into their checking account.  These taxpayers will automatically have their stimulus payment deposited into the account they received their refund.  We have not yet received confirmation from the IRS on whether they will be putting stimulus payments on prepaid debit cards.  However, we have noticed that the IRS has started depositing stimulus payments on some prepaid debit cards for taxpayers that chose to receive their refund through that method in tax year 2019 or 2018.  If you received your refund on a prepaid debit card in tax year 2018 or 2019, here is what you need to know: 

  • I have access to my debit card: If you have access to your debit card (most people), there is nothing more you need to do.  If the IRS deposits a stimulus payment onto your prepaid debit card, you will be able to immediately use the stimulus funds upon deposit. 
  • I don't have access to my debit card: If you received a notification that you will be receiving your stimulus payment from the IRS on your prepaid debit card and no longer have access to it, we will have information coming shortly.  We encourage you to visit this site, where we are continually updating with the latest information and guidance. We know everyone is anxious to get their stimulus money and we are committed to helping our customers get access to their stimulus payment as fast as possible. 
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polarbear244
New Member

Will my stimulus deposit be made using the direct deposit information I provided to Turbo tax if I had the cost of tax preparation deducted from my refund?

Will the IRS be able to send my stimulus payment direct deposit if I had the cost of tax preparation deducted from my refund. Nobody can seem to answer this simple question. Not TurboTax. No Intuit. Not Santa Barbara Tax Preparation Group. These payments are going out now but all I keep hearing is we're working on an answer. It seems working with the IRS to design a portal for non taxpayers to sign up was more important than making sure long time customers would be taken care of. It looks like I'll have to sign up on the IRS website once everyone else with direct deposit has their stimulus. Intuit, TurboTax, and SBTPG dropped the ball on this big time

DeanM15
Expert Alumni

Will my stimulus deposit be made using the direct deposit information I provided to Turbo tax if I had the cost of tax preparation deducted from my refund?

If you had your fees taken out of your Federal refund, it is unlikely the IRS will deposit the money in your account. They do not have your account number, they have the third party account number of the firm that made the split. That account is likely closed. 

 

You will need to wait for the Treasury to set up the web portal for you to enter the banking information. If you did not have a refund with Direct Deposit, the IRS does not have your banking information. 

 

"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."

 

@polarbear244

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