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Turbotax is not a bank and does not have any IRS funds.
No one here can tell you if you are eligible or when the IRS will send your payment. You can check the IRS web site. In some cases (read below) the IRS is supposed to mail a check or debit card instead of making a direct deposit. If you don't receive a payment by January 15, you can claim a credit on your 2020 tax return.
Read more below
Some customers who used refund transfer to pay their turbotax fees from their refunds are experiencing delays due to a mistake at the IRS. If you used refund transfer to have your fees deducted from your refund, that means your refund was sent to Turbotax's banking partner SBTPG, to open a temporary account in your name, receive the refund, subtract the fees, forward the rest of the money to your regular account, and close the temporary account.
That means that the IRS never had your real banking info, just the temporary closed account. The IRS had a web site open through October where you could have updated your banking information.
The IRS should not try to make deposits into these closed accounts, because they know which banks provide this service. During round 1, when the IRS mistakenly sent stimulus payments to SBTPG, SPTBG tried to match them to their customers and forward the money. However for round 2, SBTPG has decided to bounce all payments back to the IRS for security reasons.
So if you used refund transfer to pay your fees, and if you never updated the IRS with your banking information, the IRS should recognize this fact and mail you a check or debit card. If the IRS makes a mistake and tries to do a direct deposit, it will bounce, and the IRS would normally mail a check or debit card later, but it takes longer.
The new law says the IRS can only make payments until January 15. After that, if you don't receive a deposit, check or debit card, you can claim the rebate as a credit on your tax return and it will be added to your refund.
Turbotax has no idea if you are eligible, and no control over where the IRS sends the money. If you did not use refund transfer, you should get the second stimulus payment in the same way as the first payment.
Refund transfer is a terrible product -- not only is it overpriced, but putting a bank you don't know in between you and the IRS is always a bad idea. In 2020, it turns out to be a galactically bad idea.
It's not yet clear if there are other IRS mistakes not related to refund transfer.
I will never use Turbo tax again. I cannot believe H @R block are forwarding the information and checks. Turbo tax is choosing not to. I will never spend another dime with Turbo tax and I have filed for years with them. Never, ever, again.
I thought your company was the best on helping people boy was I wrong you could do the same as H R BLOCK but you will not and guess what I will not use you ever again and will spread the word to friends and family as well . Please forward to my account my stimulus check you can and I know it.I .
really need it
@Tracyt7562 wrote:
I will never use Turbo tax again. I cannot believe H @R block are forwarding the information and checks. Turbo tax is choosing not to. I will never spend another dime with Turbo tax and I have filed for years with them. Never, ever, again.
HRB's claim is puzzling to me. They mention Green Dot accounts. Turbotax's refund processor is SBTPG. SBTPG is not going to try and forward deposits this time around. (They did in round 1, which was actually a violation of banking laws, and resulted in at least some further mishaps when customers had changed their regular accounts in the meantime.). If the IRS does not have secure banking information for a payment, they are supposed to mail a check to the taxpayer's last known address. And the IRS knew ahead of time who used refund transfers and those accounts weren't secure.
@vanjames354 wrote:
I thought your company was the best on helping people boy was I wrong you could do the same as H R BLOCK but you will not and guess what I will not use you ever again and will spread the word to friends and family as well . Please forward to my account my stimulus check you can and I know it.I .
really need it
Check the IRS to see if a payment was really issued.
https://www.irs.gov/coronavirus/get-my-payment
If you used refund transfer last year, the IRS should mail you a check. The checks must be mailed before the January 15 deadline imposed by the new stimulus law. If there is no check mailed by January 15, you can claim the rebate on your tax return.
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