Covid-19 (Coronavirus) personal finance thread
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Community Manager

Covid-19 (Coronavirus) personal finance thread

Hello everyone, we know these uncertain times raise questions for all of us.

 

We've collected helpful tips and resources here: https://blog.mint.com/updates/mint-money-hub-what-to-know-about-coronavirus-covid-19-and-your-financ...


What other questions do you have? What personal finance information would you find most valuable that we can provide?

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Level 3

Covid-19 (Coronavirus) personal finance thread

I filed using the stimulus registration portal for non filers, added direct deposit information and it said I was set up for direct deposit.  I triple checked everything and submitted it.  It was accepted by the IRS but when I downloaded the submission PDF the direct deposit was xxxx'd out.  Is this normal?  I'm scared I'll have to wait for a paper check and there is no way I'll make if I have to wait.  Please help!!!!

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Expert Alumni

Covid-19 (Coronavirus) personal finance thread

Yes, that is normal, its encryted for the purpose of security and privacy. Don't worry, just continue to monitor any updates that arrive from the IRS via you're email. 

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New Member

Covid-19 (Coronavirus) personal finance thread

I used turbotax free last week (before the stimulus check registration portal was set up) to draft a simple return since I haven't met the required income threshold to file taxes in 2018 or 2019. The program required me to finish by mail, but never allowed me to enter my banking information. After using the registration portal today it said that my information had already been sent. Does this mean that it's impossible for me to register for direct deposit?

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Expert Alumni

Covid-19 (Coronavirus) personal finance thread

If your simple return didn't show a refund, the direct deposit information would not have been recorded. The tax return processing system is not equipped to collect that data except when processing a deposit.  

 

However, the IRS has indicated HERE that it will be setting up a portal in the coming days to collect this information from taxpayers for whom it does not yet have this information. 

 

Please check the above site for updates.   Also, please use caution when providing this information to safeguard your data. 

 

Be sure that you go to any IRS provided link directly; do not click on links that may be sent to you via e-mail asking for your bank information.  

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New Member

Covid-19 (Coronavirus) personal finance thread

Katie-

 

I have a kind of 'tricky/unique' situation I was hoping for some guidance with. I share custody of my son and his mom and I alternate years for claiming him.  I claimed him in 2018, but filed my taxes 'on time' for 2019 last month, so that's what information the IRS/govt has and have already received my Fed refund via direct deposit.

 

She will claim him for 2019, but makes too much money to be eligible for the stimulus check for herself or our son. If I would have just 'waited' a couple of weeks, they would be using my 2018 return (on which I claimed him), instead of my 2019, on which I do not claim him. 

 

Do I have any options/recourse to make sure that at least one of us gets stimulus 'credit/$500' for our son?  I'm struggling to come up with a reasonable solution.

 

Thanks,

Anthony

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Expert Alumni

Covid-19 (Coronavirus) personal finance thread

I am sorry, but 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.  Please see IRS Stimulus Checks for more information.

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New Member

Covid-19 (Coronavirus) personal finance thread

I e-filed even though I don't have an income thinking that I was going to get the stimulus check sooner if I did. However, I never got a chance to enter my banking info during my e-file.

 

Now, when I try to use the turbotax stimulus registration link to enter bank info, I'm not allowed to. Can you help me?

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Expert Alumni

Covid-19 (Coronavirus) personal finance thread

Treasury plans to develop a web-based portal for people to provide their banking info to the IRS online, so that individuals can receive payments immediately as opposed to checks in the mail. Please continue to check for updates by clicking on the link below.

 

https://www.irs.gov/newsroom/economic-impact-payments-what-you-need-to-know

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New Member

Covid-19 (Coronavirus) personal finance thread

Im having issures receiving my fed return IRS send me a letter about identity theft protection yet i have received my State Return but not my Federal i have been to IRS website and tryed to use the site to identify my identity but it requires a credit card student loan or a car loan the complete I have none of these never had having trouble getting in contact with the IRS over the phone how do I solve this?

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New Member

Covid-19 (Coronavirus) personal finance thread

How do you apply for the stimulus check like what do i have to fill out? Ive already done my 2019 taxs, do i have to fill anything out?

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New Member

Covid-19 (Coronavirus) personal finance thread

It says my stimulus check was accepted. Then says the IRS will check eligibility before sending me the stimulus check. Does that mean I am accepted?

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New Member

Covid-19 (Coronavirus) personal finance thread

What and where do you fill it out? Can you post or comment link please 

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Level 7

Covid-19 (Coronavirus) personal finance thread

If you have already filed your taxes this year, no action is required to receive your stimulus check, if you need to file your taxes, or are not required to file a tax return, check out this link for helpful information. https://turbotax.intuit.com/stimulus-check/

 

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Level 1

Covid-19 (Coronavirus) personal finance thread

I'm getting 0 back but need to no is bank info is on here to get 1200

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