Level 15

After you file

Maybe ... details still to come if you used the refund processing option to have the TT fees withheld from the fed refund  ...


SO look at your 2019 form 1040 at the DD info on page 2 ... if that is the same DD info for the Debit card you have then the IRS already has the card info and will send it there automatically.  


If not then it is still to be determined if the deposit will go thru the third party processing bank like the original refund  OR  if you will need to change that DD info in the IRS portal to be built  OR  just get a check. 



How will the IRS know where to send my payment?


The vast majority of people do not need to take any action. The IRS will calculate and automatically send the economic impact payment to those eligible.


For people who have already filed their 2019 tax returns, the IRS will use this information to calculate the payment amount. For those who have not yet filed their return for 2019, the IRS will use information from their 2018 tax filing to calculate the payment. The economic impact payment will be deposited directly into the same banking account reflected on the return filed.


The IRS does not have my direct deposit information. What can I do?

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.


Patience will be needed while hard working folks are trying their best to develop and implement  this distribution DURING a tax season AND a pandemic.  



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