Stimulus for 2021

[Laceylove713]

Does anybody know when we will receive our stimulus money on our TurboTax cards for Jan 2021 my friend got his dec31st he get ssi but his money goes on to his ace flare account card  that’s were his stimulus money went to last year and this year 

[xmasbaby0]

TurboTax has NO control over your stimulus check, nor can TT track it or tell you when you will receive it.  The IRS will use the same banking information for the 2nd stimulus that they used for the first one.  If that account (or card) is closed then the stimulus will go back to the IRS and they will mail you a check.

See this information from the IRS:

https://www.irs.gov/newsroom/treasury-and-irs-begin-delivering-second-round-of-economic-impact-payme...

From the IRS:

How do I find out if the IRS is sending me a payment?

People can check the status of both their first and second payments by using the Get My Payment tool, available in English and Spanish only on IRS.gov. The tool is being updated with new information, and the IRS anticipates the tool will be available again in a few days for taxpayers.

How will the IRS know where to send my payment? What if I changed bank accounts?

The IRS will use the data already in our systems to send the new payments. Taxpayers with direct deposit information on file will receive the payment that way. For those without current direct deposit information on file, they will receive the payment as a check or debit card in the mail. For those eligible but who don’t receive the payment for any reason, it can be claimed by filing a 2020 tax return in 2021. Remember, the Economic Impact Payments are an advance payment of what will be called the Recovery Rebate Credit on the 2020 Form 1040 or Form 1040-SR.

Where can I get more information?

For more information about Economic Impact Payments and the 2020 Recovery Rebate, key information will be posted on IRS.gov/eip You may check the status of your payment at IRS.gov/GetMyPayment. For other COVID-19-related tax relief, visit IRS.gov/Coronavirus.

[Laceylove713]

My account and card are still active I check it everyday just tryna find out when it comes thank you

[DoninGA]

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@Laceylove713  wrote:

My account and card are still active I check it everyday just tryna find out when it comes thank you

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The stimulus payment will go to the account you entered for direct deposit on the 2019 tax return.  The direct deposit information cannot be changed.  If the account is closed the IRS will send the payment by mail or on a debit card.

Go to this IRS website for stimulus information - https://www.irs.gov/newsroom/treasury-and-irs-begin-delivering-second-round-of-economic-impact-payme...

Go to this IRS website to check the status of your payment - https://www.irs.gov/coronavirus/get-my-payment

If you do not receive the second stimulus payment on or before January 15, 2021 and you are eligible it will be entered on your federal tax return, Form 1040 on Line 30.

The Form 1040 has not been finalized and needs to updated to include the 2nd Economic Impact Payment.

[LadyLee1965]

APPARENTLY, that is not true for those who used turbo tax and DIRECT DEPOSIT!  The reason this information is completely false is that the IRS website that we all get redirected to is stating that they do not have direct deposit individual account numbers.. why? because the previous tax year.. turbotax implemented their OWN account number so that they get paid first from your refund. so how can you even say what you did about that?

there is no way to reach someone directly at both turbotax now as well as the IRS.. The IRS call line and website is practically useless whereas the turbotax company was never like that before .. until now!  I am so frustrated. I want to speak with someone at turbo tax directly and get nothing but lame automated gate keeping preventing me from this directive both by phone and by chat .  I even put my phone on a call wait list for a freaking hour.  the call finally comes, I answer it and it disconnects!  this is not okay I tried calling back .. thrown into the monotonous call que and they claim they dont recognize my email address.. yet then offer to send me a text or email to it.  this is NOT okay.. Especially since I am pretty certain I paid extra for direct assistance with my turbo tax fees last year to prevent this kind of crap. 

Irs said they will do direct deposit and follow their protocal with last years filing.. I chose turbo.. when I try to see where GET MY PAYMENT shows.. it shows last years information as well as an UNKNOWN BANK account number.. so you try again !!!

[johnwiltsejr]

I received a stimulus amount both in 2020 and 2021. Do I report the 2021 amount on my 2020 return. There is a block in turbo tax to do so  and the instructions are not clear if I report the 2021 amount.

[DoninGA]

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@johnwiltsejr wrote:

I received a stimulus amount both in 2020 and 2021. Do I report the 2021 amount on my 2020 return. There is a block in turbo tax to do so  and the instructions are not clear if I report the 2021 amount.

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The $600 you received in January 2021 is to be entered on the 2020 federal tax return in the Federal Review section where it asks about the stimulus payments received.  The stimulus payment is an advance tax credit from the 2020 federal tax return so it must be claimed on the 2020 return.