JamesG1
Expert Alumni

Get your taxes done using TurboTax

@angielougarcia

Have you filed a 2020 Federal 1040 tax return?  The only option that the IRS provides to update addresses and bank account information is to file the 2020 Federal 1040 tax return.

 

If you have not received your second stimulus check, you will receive your payment in the form of a Recovery Rebate Credit on line 30 of your 2020 Federal tax return when you file.

 

TurboTax will compare your one or two stimulus payment amounts to the computations within TurboTax.  The computations within TurboTax are based upon the information that you have entered into the tax software.  If you are due an additional amount, it will be issued as a Recovery Rebate Credit (RRC) on line 30 of the 2020 1040 tax return.

 

If you have e-filed your 2020 Federal tax return and the tax return is accepted by the IRS, you will have to amend your 2020 Federal tax return and correct the entries and calculations to receive the Recovery Rebate Credit.

 

If you have e-filed your 2020 Federal tax return and the tax return is rejected by the IRS, you will have to correct the entries and calculations to receive the Recovery Rebate Credit as well as correct the entries that generated the rejection.

 

In TurboTax Online, you are prompted to input stimulus check 1 and stimulus check 2 information under Review down the left hand side of the screen.  You can also access your stimulus check choices by following these steps: 

  • Down the left side of the screen, click on Federal.
  • Across the top of the screen, click on Other Tax Situations.
  • At the screen Let’s keep going to wrap up.  Click on Let’s keep going.
  • At the screen Let’s make sure you got the right stimulus amount, click Continue.
  • At the screen Did you get a stimulus payment? you can update your stimulus check entries.

If the IRS issues the third stimulus payment and the bank account and mailing address on file with the IRS is incorrect, you may be able to update this information with the IRS.  

 

This IRS FAQ My payment was mailed but my post office was unable to deliver it. states:

 

Once we receive your payment back, you may be able to provide your bank account information in Get My Payment to have your payment reissued as a direct deposit.

 

If this is the case, then Get My Payment will show “Need More Information,” usually two to three weeks after the payment is issued. At this point, you can enter a routing and account number for your bank account, prepaid debit card or alternative financial product that has a routing and account number associated with it.

 

If you do not provide account information, your payment will be reissued when we receive an updated address.

 

If you need to update your address, the easiest way to do it is by filing your 2020 tax return with your current address, if you haven’t already done so. The fastest way to file the return and update your address is to file the return electronically.

 

Stimulus payment information may be available if you view or create an IRS Account.  See this.

 

Online Account is an online system that allows you to securely access your individual account information.  You may view: 

  • The amount you owe, updated for the current calendar day
  • Your balance details by year
  • Your payment history and any scheduled or pending payments
  • Key information from your most recent tax return
  • Payment plan details, if you have one
  • Digital copies of select notices from the IRS
  • Your Economic Impact Payments (EIP 1 and EIP 2), if any

 

 

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