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kittybear34
Returning Member

Self-employed and submitting direct deposit info - can't figure it out

I am self-employed and usually owe every year. I have not filed 2019 yet. How can I give the IRS my direct deposit information?

4 Replies
GabiU
Level 15

Self-employed and submitting direct deposit info - can't figure it out

According to this IRS article Economic impact payments: What you need to know
"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."

TurboTax has also created a way to register your information with the IRS. Check out this link: https://turbotax.intuit.com/stimulus-check/ 
 

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kittybear34
Returning Member

Self-employed and submitting direct deposit info - can't figure it out

That's the thing, we have a CPA that does our taxes. It looks like the only way we can send in our direct deposit info is to file our 2019 taxes with TurboTax. If we want the stimulus money, do we have to use TurboTax?

DoninGA
Level 15

Self-employed and submitting direct deposit info - can't figure it out


@kittybear34 wrote:

That's the thing, we have a CPA that does our taxes. It looks like the only way we can send in our direct deposit info is to file our 2019 taxes with TurboTax. If we want the stimulus money, do we have to use TurboTax?


No you do not have to file your 2019 tax return with TurboTax.  If your 2019 federal tax return will have a tax refund and you select Direct Deposit to receive the federal tax refund, then the IRS will have your bank information for the stimulus payment.

 

If you are not receiving a tax refund, then go to this IRS website for information -

If you have filed a 2019 tax return and need to change or add your direct deposit information, see this IRS website - https://www.irs.gov/newsroom/economic-impact-payments-what-you-need-to-know
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.

 

kittybear34
Returning Member

Self-employed and submitting direct deposit info - can't figure it out

Does that mean that there will be a portal in addition to TurboTax? We will certainly owe for 2019, so there will be no opportunity for us to submit our direct deposit info.

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