topic Need to find out about the update my information for my direct deposit so I can get my stimulus check in After you file

Need to find out about the update my information for my direct deposit so I can get my stimulus check

ericvidal — Sat, 02 Jan 2021 22:51:28 GMT

How do I get all the TurboTax

Re: Need to find out about the update my information for my direct deposit so I can get my stimulus check

xmasbaby0 — Sat, 02 Jan 2021 22:52:21 GMT

BANKING INFORMATION

Your banking information cannot be changed after your tax return has been filed and accepted.

Banking information does not go from TT to the IRS until you file your 2020 tax return and it is accepted. The IRS will begin to accept and process 2020 returns at the end of January 2021.

You enter/change banking information in the FILE section before you file your 2020 return. Changing it on the TurboTax site does not do any good until you file your return and the IRS processes your return. If they manage to start sending out stimulus checks before you can change your information, we hope the IRS provides a way for you to change it with the IRS. If your check goes to a wrong or closed account, it will be sent back to the IRS and then the IRS will mail a check to the address on your tax return.

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.

P.S. If you just do not KNOW what account you had your 1st stimulus deposited to, please look at either your own tax return from the past year or at the filing instruction sheet that is part of the pdf for that return. The banking information you used is there. We cannot look it up for you.

Re: Need to find out about the update my information for my direct deposit so I can get my stimulus check

annesweeney1969 — Sat, 23 Jan 2021 19:46:21 GMT

Turbo tax did my refund last year and my payment was mailed to me. I still have not gotten my stimulus payment this year. The IRS website tells me over and over the samething. That they dont have enough information on me to send my refund to me. Can you please find out what is going on with my payment please.

Re: Need to find out about the update my information for my direct deposit so I can get my stimul...

ReneeM7122 — Sun, 24 Jan 2021 19:54:34 GMT

To receive your stimulus payment, complete your 2020 tax return with TurboTax. At the end of the interview, the software prompts you about your stimulus payment. If you did not receive one, it will factor in as a credit and you will receive a refund.

Turbo Tax does not issue refunds; it transfers information to Federal and State taxing authorities, who in turn issue or collect money from taxpayers (TurboTax customers). If you did not receive the stimulus payment due to you, the issue is from the Federal (IRS) side. Your 2020 TurboTax return "stimulus credit" should kick the payment into action, making it easier for you to receive it timely without chasing it down.

You can check here for the status of your stimulus payment, or view an article that explains where your stimulus check might be.

@annesweeney1969