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Level 1
April 10, 2020
Question

Hello, does Turbo tax provide the IRS with my bank info? I owe taxes but also want to know if I need to do anything more to receive the stimulus check?

  • April 10, 2020
  • 1 reply
  • 27 views
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1 reply

Level 15
April 10, 2020

No,  TurboTax does not provide your direct deposit information to the IRS. The IRS gets your direct deposit information from your tax return.

  • If you had a balance due this year, the IRS will mail a paper stimulus check to the address on your 2019 return, unless you were sent a refund by direct deposit in 2018, in which case your stimulus payment will be sent to that account.

 

However, 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 the meantime, you can visit the following links for the most recent updates:

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Level 2
April 25, 2020

This is a complete total F@Y%Up on the new TurboTax 2019 not providing our new Bank Direct Deposit account information to the IRS this year!  My situation is the old Bank Account we used for last year's 2018 E-Filing to the IRS was closed and we got a new Bank Account for 2019.  TurboTax Deluxe 2019 asks for your Bank Direct Deposit information when you E-File this year and we entered our NEW Bank Account info (which is different from last year's 2018 Bank Account info!).  Only to find out that IRS says that they do not have the new bank account info!  They have our old closed bank account which is closed out and no longer exists.   So not only did that cause them to attempt to send our Stimulus payment to the wrong bank account and delay our payment, but they don't allow us to tell them our new Bank Account info once they've initiated processing the stimulus payment.  Since we have no way (I've searched and searched!) to update the IRS with our new bank direct deposit account,  HOW ARE THEY GOING to deduct the Taxes we owe???  From the looks of it, the IRS will also try to deduct the taxes owed from the old closed bank account and it will FAIL!  And so, they will then charge a late payment penalty fee!!!???  All because TurboTax 2019 software change screwed things up.  TurboTax you will pay the extra penalty fees if this happens!  Why the heck did you stop sending our Bank Direct Deposit account info to the IRS?  You put all XXXXXXXX's on the 1040 form and the IRS monkey that looks it over thinks there is no bank account info!