topic Stimulus Direct Deposit: Paid TurboTax With My Refund. Does IRS Have MY Bank Account Info? in After you file

Stimulus Direct Deposit: Paid TurboTax With My Refund. Does IRS Have MY Bank Account Info?

JohnA-NJ — Sun, 12 Apr 2020 14:49:59 GMT

I’ve seen this asked numerous times with no straight answers... how will “Pay With My Refund” affect my stimulus payment via direct deposit? The return on TurboTax shows my bank account, but my refund came via deposit from Santa Barbara TPG. So what account number was ACTUALLY filed with the IRS? The Santa Barbara TPG site doesn’t address this scenario directly. Can TurboTax employees please answer this question?

Re: Stimulus Direct Deposit: Paid TurboTax With My Refund. Does IRS Have MY Bank Account Info?

Sanderschan6494 — Sun, 12 Apr 2020 15:02:39 GMT

Santa Barbara Bank will not be playing a role depositing stimulus money. Wen the tool comes up on the irs website u have to put in new direct deposit info or u will get a paper check

Re: Stimulus Direct Deposit: Paid TurboTax With My Refund. Does IRS Have MY Bank Account Info?

KatrinaB48 — Sun, 12 Apr 2020 15:11:03 GMT

If you received your refund via direct deposit after the fees were withheld then the IRS should have your direct deposit information. However, the IRS has not provided guidance on what types of financial accounts stimulus payments will be directly deposited into. Please view this IRS link for more information about the IRS Get My Payment application that will be available in mid-April. You can use this tool to check the status of your stimulus payment and enter your direct deposit information if necessary.

Re: Stimulus Direct Deposit: Paid TurboTax With My Refund. Does IRS Have MY Bank Account Info?

JohnA-NJ — Sun, 12 Apr 2020 15:18:37 GMT

Thanks for your answer. But in this scenario I wonder how the IRS can have the correct account info, since it is first deposited with the intermediary (Santa Barbara TPG) to deduct fees. Maybe there is a mechanism established for this with the IRS?

Re: Stimulus Direct Deposit: Paid TurboTax With My Refund. Does IRS Have MY Bank Account Info?

JohnA-NJ — Sun, 12 Apr 2020 15:23:30 GMT

By the way, this is not a question that requires awaiting IRS clarification. It is about the process established by Intuit’s partner, Santa Barbara TPG.

Re: Stimulus Direct Deposit: Paid TurboTax With My Refund. Does IRS Have MY Bank Account Info?

KathrynG3 — Sun, 12 Apr 2020 15:30:31 GMT

It still depends on the IRS because of exactly what you said: "Maybe there is a mechanism established for this with the IRS?" This is what we are still waiting for IRS guidance about. We will have more information once the government finalizes the details.

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

IRS Coronavirus Tax Relief

TurboTax Corona Virus Tax Center Updates

@JohnA-NJ

Re: Stimulus Direct Deposit: Paid TurboTax With My Refund. Does IRS Have MY Bank Account Info?

JohnA-NJ — Sun, 12 Apr 2020 15:41:12 GMT

Thank you very much for your answer @KathrynG3. So is that another way of saying, “Nope, the IRS definitely doesn’t have your bank account info, so we’re trying to figure out what to do about it.”? If so, is Intuit working with the IRS directly to update these filings without the customer needing to take any further action?

Re: Stimulus Direct Deposit: Paid TurboTax With My Refund. Does IRS Have MY Bank Account Info?

JohnA-NJ — Sun, 12 Apr 2020 15:48:08 GMT

I should add, many thanks to Intuit’s support staff during these chaotic times. I’m sure they are also “drinking from the fire hose” of rapidly changing information and doing their best to provide answers.

Re: Stimulus Direct Deposit: Paid TurboTax With My Refund. Does IRS Have MY Bank Account Info?

KathrynG3 — Sun, 12 Apr 2020 15:59:56 GMT

You're welcome! Well, it still depends on guidance not yet given, but definitely forthcoming by the IRS. As of now, the best thing is to watch for updates from both the IRS and from TurboTax. Thank you for trusting TurboTax for guidance. It is well placed!

@JohnA-NJ

Re: Stimulus Direct Deposit: Paid TurboTax With My Refund. Does IRS Have MY Bank Account Info?

Tanta — Sun, 12 Apr 2020 17:41:02 GMT

Untrue

Re: Stimulus Direct Deposit: Paid TurboTax With My Refund. Does IRS Have MY Bank Account Info?

JohnA-NJ — Sun, 12 Apr 2020 17:44:17 GMT

@Tanta , what is untrue?

Re: Stimulus Direct Deposit: Paid TurboTax With My Refund. Does IRS Have MY Bank Account Info?

Tanta — Sun, 12 Apr 2020 17:46:46 GMT

Did you get a state DD? If you did, it didn’t touch SBTG. Same will be done with Stimulus Check. The only way you will receive a paper check is if SBTG deposit was bounced back to them and they had to issue you a paper check or their own debit card ( Wal-Mart card) to you with your funds.

Re: Stimulus Direct Deposit: Paid TurboTax With My Refund. Does IRS Have MY Bank Account Info?

JohnA-NJ — Sun, 12 Apr 2020 17:52:32 GMT

@Tanta , the "Pay With My Refund" direct deposit option only involves your Federal refund. As such, this has nothing to do with state refunds which are paid directly by state treasuries.

Re: Stimulus Direct Deposit: Paid TurboTax With My Refund. Does IRS Have MY Bank Account Info?

Tanta — Sun, 12 Apr 2020 17:54:06 GMT

If you paid TT with your refund, you allowed TT to collect payment by SBTG. They did this and then sent your refund to the TT card. Your state refund was also deposited however it did not go to SBTG, similarly, even if you used TT and SBTG, your stimulus check will be deposited to your TT card and has nothing to do with SBTG bank.

Re: Stimulus Direct Deposit: Paid TurboTax With My Refund. Does IRS Have MY Bank Account Info?

JohnA-NJ — Sun, 12 Apr 2020 18:00:38 GMT

@Tanta To be clear, I do NOT have a TurboTax card (aka Green Dot, which is the parent company of SBTPG).

I am only talking about bank account direct deposits, like Chase, B of A, Wells Fargo, etc. Please read the prior posts in this thread to get a better understanding of the concern.

Re: Stimulus Direct Deposit: Paid TurboTax With My Refund. Does IRS Have MY Bank Account Info?

JohnA-NJ — Sun, 12 Apr 2020 18:11:23 GMT

On a side note, "Pay With My Refund" is a complete ripoff. I didn't notice the fine print... but they charge you a whopping $40 above and beyond the TT fee just to use this option! You're better off putting it on a CC. Never again. Ever.

Re: Stimulus Direct Deposit: Paid TurboTax With My Refund. Does IRS Have MY Bank Account Info?

Tanta — Sun, 12 Apr 2020 18:12:32 GMT

True. I don’t know how I didn’t use the free tool on the website.

Re: Stimulus Direct Deposit: Paid TurboTax With My Refund. Does IRS Have MY Bank Account Info?

Tanta — Sun, 12 Apr 2020 18:14:42 GMT

Oh and SBTG is not a parent company to Greendot.

Re: Stimulus Direct Deposit: Paid TurboTax With My Refund. Does IRS Have MY Bank Account Info?

JohnA-NJ — Sun, 12 Apr 2020 18:31:22 GMT

@Tanta

Other way around! Green Dot is indeed the parent company of SBTPG.

In fact, if you go to the SBTPG website (https://www.sbtpg.com/) , you'll see "A Green Dot Company" at the bottom of the page, on the right-hand side of the footer.

Re: Stimulus Direct Deposit: Paid TurboTax With My Refund. Does IRS Have MY Bank Account Info?

JohnA-NJ — Sun, 12 Apr 2020 20:55:23 GMT

[ NOTE - I'm not sure why this commentary keeps getting deleted. Am I saying something controversial or objectionable? I've made it clear it's my interpretation and I welcome corrections. ]

Unfortunately, there are still no clear answers for those of us who chose "Pay With My Refund"
with Santa Barbara TPG (SBTPG) acting as the intermediary using direct deposit into a bank
account (not a card). This is how I interpret multiple answers I’ve read from TurboTax support
staff so far:

* Even though YOUR bank account number appears in the direct deposit section, boxes 21(b) and
21(d) of the 1040 form you access via your TurboTax login, it does not necessarily mean it is
the account info that was filed with the IRS.

* More likely, your actual filing with the IRS had a routing/account number for SBTPG so they
could receive your refund, deduct the TurboTax fees, and then transfer the adjusted amount to
your account.

* If this is the case, it is possible that the IRS does NOT have your correct direct deposit
information.

* The TurboTax online support staff appear to have not yet been given guidance on this and are
awaiting answers as well.

* SBTPG’s site has a stimulus page that’s been cited on this forum, but as of now it does not
directly address TurboTax customers: https://www.sbtpg.com/coronavirus-stimulus-payment-info/

* There is no information the IRS can provide that speaks to this scenario, it is really a
question for Intuit and SBTPG to answer.

Looking forward, hopefully, either:

1) There is already an established mechanism in place between intermediaries like SBTPG and the
IRS in which they provide the customer’s ACTUAL account number secondarily with the original
filing in case it is needed for an occasion like this. If so, the IRS will already have our
account numbers and use them, or...

2) SBTPG will receive our stimulus payments and route them right into our bank accounts, just as
they did with our refunds, or...

3) SBTPG and/or Intuit are now actively working with the IRS to amend deposit account numbers
ASAP for "Pay With My Refund" customers so they can receive their stimulus deposits without
taking further action or incurring any delays.

I welcome any corrections if I’m wrong. 🙂