topic Are y’all depositing money tonight in After you file

Are y’all depositing money tonight

user022120177 — Sat, 02 Jan 2021 04:36:28 GMT

Re: Are y’all depositing money tonight

VolvoGirl — Sat, 02 Jan 2021 04:39:16 GMT

Turbo Tax does not deposit anything. Refunds come from the IRS. What are you expecting tonight?

Re: Are y’all depositing money tonight

xmasbaby0 — Sat, 02 Jan 2021 05:06:13 GMT

If you are asking about a stimulus check

TurboTax has NO control over your stimulus check, nor can TT track it or tell you when you will receive it. The IRS will use the same banking information for the 2nd stimulus that they used for the first one. If that account (or card) is closed then the stimulus will go back to the IRS and they will mail you a check.

See this information from the IRS:

https://www.irs.gov/newsroom/treasury-and-irs-begin-delivering-second-round-of-economic-impact-payments-to-millions-of-americans

From the IRS:

How do I find out if the IRS is sending me a payment?

People can check the status of both their first and second payments by using the Get My Payment tool, available in English and Spanish only on IRS.gov. The tool is being updated with new information, and the IRS anticipates the tool will be available again in a few days for taxpayers.

How will the IRS know where to send my payment? What if I changed bank accounts?

The IRS will use the data already in our systems to send the new payments. Taxpayers with direct deposit information on file will receive the payment that way. For those without current direct deposit information on file, they will receive the payment as a check or debit card in the mail. For those eligible but who don’t receive the payment for any reason, it can be claimed by filing a 2020 tax return in 2021. Remember, the Economic Impact Payments are an advance payment of what will be called the Recovery Rebate Credit on the 2020 Form 1040 or Form 1040-SR.

Where can I get more information?

For more information about Economic Impact Payments and the 2020 Recovery Rebate, key information will be posted on IRS.gov/eip. Later this week, you may check the status of your payment at IRS.gov/GetMyPayment. For other COVID-19-related tax relief, visit IRS.gov/Coronavirus.

Re: Are y’all depositing money tonight

Critter-3 — Sat, 02 Jan 2021 05:09:16 GMT

If you did not use the processing service and instead entered the debit card direct deposit info directly into the FILE tab then the following doesn't apply to you.

If you used the refund processing service to pay the TT fees from the federal refund and the balance put on the TT card then the processing bank will NOT be accepting those deposits. They will be rejected and the IRS will issue a check mailed to the address they currently have on file. Putting in a change of address with the IRS before filing your return will be a waste of time but you can put in a forwarding address with the IRS instead so the check can find you.

The IRS will stop mailing payments on 1/15 so if you do not get a check in the mail by 1/27 you can get the money on the 2020 return you will file. The IRS will not start processing returns until 1/27 at the earliest so you have time to wait and see.

https://www.sbtpg.com/coronavirus-stimulus-payment-info/Economic Impact Payment Information

Last updated: Dec. 30 2020 8:12 am

12/30/2020 Update

The IRS has announced that the second round Economic Impact Payments(EIP) are being delivered directly to qualified taxpayers, and the IRS has indicated payments will NOT be delivered to Refund Transfer banks including Santa Barbara TPG. TPG will not play a role in facilitating these payments. The eligibility amount and status of your stimulus payment can be found at IRS.gov/coronavirus.

If the IRS indicates funds were sent to TPG those funds will be rejected back to the IRS. The IRS may indicate funds were deposited to an account ending in the last four digits of your Social Security number. For your protection any account that was established at TPG to facilitate processing of your tax refund was closed when you received your original tax refund, and that account no longer exists.

Unfortunately, TPG does not have any visibility into this information, therefore our agents cannot answer any questions regarding these payments.

See this information from the IRS:

https://www.irs.gov/newsroom/treasury-and-irs-begin-delivering-second-round-of-economic-impact-payme...