topic Re: Coronavirus Stimulus Payment in Deductions & credits

Coronavirus Stimulus Payment

dms616 — Sat, 28 Mar 2020 17:08:58 GMT

The news reports say that payments will be made via direct deposit. I usually have TurboTax subtract my fee from my federal tax refund. I believe this is processed by Santa Barbara Tax Products Group. I believe my refund comes from SBTPG rather than directly from the IRS. So I am not sure the IRS has my direct deposit information on file. Will I sill be able to get my stimulus payment through direct deposit?

Re: Coronavirus Stimulus Payment

ColeenD3 — Sat, 28 Mar 2020 17:25:11 GMT

Yes. any intermediary bank merely temporarily hold the money to deduct fees. The balance is forwarded to your bank account.

Re: Coronavirus Stimulus Payment

oldhamwe1 — Sun, 29 Mar 2020 17:51:56 GMT

Can it be confirmed that SBTPG left their temp routing account open after processing the actual refund? If it isn't still open what happens?

Re: Coronavirus Stimulus Payment

DianeC958 — Sun, 29 Mar 2020 17:58:51 GMT

If you had your refund directly deposited to your bank account, your stimulus payment will be routed to your bank account.

What do I need to know about the coronavirus stimulus package?

Re: Coronavirus Stimulus Payment

Larrywman — Sun, 29 Mar 2020 21:04:36 GMT

I used TurboTax to send in my federal refund, TurboTax informed me it was accepted early January, but the IRS says 2019 is still processing. Then I received a document notifying me that my return had to be amended and that I needed two additional documents. I have sent in these two forms and my taxes for 2019 are still being processed. Will the funds be deposited to the updated accurate bank/account from my 2019 return that is still processing? or will the IRS use the old dead account from my 2018 returns?

Re: Coronavirus Stimulus Payment

MaryK4 — Sun, 29 Mar 2020 21:10:56 GMT

If the 2019 request form the IRS was for the 1095-A Advanced Premium Tax Credit reconciliation, the 2019 information is the most current and in their system so both your 2019 refund (when they process) and the stimulus check will go to the current account.

@Larrywman

Re: Coronavirus Stimulus Payment

Larrywman — Sun, 29 Mar 2020 21:13:22 GMT

It was for the premium tax credit. I have sent in these two forms and it has taken over a month and my 2019 return is still processing. Will I still receive the stimulus funds if my 2019 return is still processing?

Re: Coronavirus Stimulus Payment

Critter — Sun, 29 Mar 2020 21:14:54 GMT

@oldhamwe1

NOTHING can be confirmed at this time ... until the IRS posts directions and the third party banks figure if they can re open closed accounts (may not be possible) we cannot be sure of anything ... watch these sites :

The details of the Stimulus payments have not been worked out yet. Once things are finalized we will be able to provide more guidance. In the meantime, you can visit the following links for the most recent updates:

IRS Coronavirus Tax Relief

TurboTax Corona Virus Tax Center Updates

Here is the SBTPG site … https://www.sbtpg.com/coronavirus-stimulus-payment-info/

Re: Coronavirus Stimulus Payment

Critter — Sun, 29 Mar 2020 21:27:30 GMT

@Larrywman

It should since your return is in the system but I cannot confirm this ... watch the same sites posted in the last answer for updates as posted.

Re: Coronavirus Stimulus Payment

oldhamwe1 — Wed, 01 Apr 2020 19:17:03 GMT

Thanks for the pointers. I've checked them daily and see nothing addressing this concern. TurboTax should contact SBTPG (you know the contacts) now and at least determine if the temp accounts are still valid for use. If not they need to be reopened. Nothing is impossible, just easy or hard to do.

There are people that will be desperately in need of this money. If these checks can't be deposited and they go the the bottom of 'to be mailed' pile it could be months. All of TurboTax's customers that used this service should be informed directly if this is a real problem.

Re: Coronavirus Stimulus Payment

LeonardS — Wed, 01 Apr 2020 20:18:04 GMT

Until the details have been worked out and provided to TurboTax. TurboTax can not provide an answer to your question regarding Santa Barbara Tax Products Group. This link CARES Act Update Coronavirus Stimulus Payment Information has information directly from Santa Barbara Tax Products Group that you may find helpful.

Re: Coronavirus Stimulus Payment

Critter — Wed, 01 Apr 2020 20:20:02 GMT

FYI ALL .... THERE IS NO INSTRUCTIONS YET ... EVEN MY PROFESSIONAL PROGRAM HAS NOTHING YET ... PATIENCE WILL BE NEEDED.

THE STIMULUS CHECKS WILL NOT START GOING OUT FOR 3 WEEKS OR MORE AND THEY WILL NOT ALL GO OUT ON DAY ONE ... IT TOOK MONTHS TO GET THEM OUT LAST TIME.

WORD TO THE WISE ... DON'T EXPECT THE MONEY ON ANY CERTAIN DATE AND YOU WILL NOT BE DISAPPOINTED.

Re: Coronavirus Stimulus Payment

bige2443 — Fri, 03 Apr 2020 18:34:49 GMT

If you look at your 1040 even if you had turbotax deduct your fees it should have your banks direct deposit information on it. So the people that had fees deducted should be just fine.

Re: Coronavirus Stimulus Payment

Kalibsdaddy2 — Sun, 12 Apr 2020 20:52:06 GMT

My name is Chris Hummel and I need help with finding out if I'm going to get the stimulus package I did the thing on the IRS for the stimulus package then it took me 2 TurboTax to do my federal taxes I don't know what I did wrong or if I didn't do it wrong well I still qualify for the stimulus can somebody email me at [email address removed] please and thank you

Re: Coronavirus Stimulus Payment

Kalibsdaddy2 — Sun, 12 Apr 2020 20:54:08 GMT

I entered the wrong account number for direct deposit on the stimulus what will happen and will I still receive my money I need help to find out as soon as possible can someone email me as soon as possible [email address removed]

Re: Coronavirus Stimulus Payment

DoninGA — Sun, 12 Apr 2020 20:55:57 GMT

@Kalibsdaddy2 wrote:

I entered the wrong account number for direct deposit on the stimulus what will happen and will I still receive my money I need help to find out as soon as possible can someone email me as soon as possible [email address removed]

https://www.irs.gov/coronavirus/economic-impact-payments

To help everyone check on the status of their payments, the IRS is building a second new tool expected to be available for use by April 17. Get My Payment will provide people with the status of their payment, including the date their payment is scheduled to be deposited into their bank account or mailed to them.

An additional feature on Get My Payment will allow eligible people a chance to provide their bank account information so they can receive their payment more quickly rather than waiting for a paper check. This feature will be unavailable if the Economic Impact Payment has already been scheduled for delivery.

Re: Coronavirus Stimulus Payment

DaveF1006 — Sun, 12 Apr 2020 20:57:52 GMT

if yo filed a 2018 or 2019 return, you will receive a stimulus check if you qualify. Please visit the IRS Coronavirus website for more details.

Re: Coronavirus Stimulus Payment

Kalibsdaddy2 — Sun, 12 Apr 2020 21:45:09 GMT

I did not file taxes 2018 an 2019 but I had done something through TurboTax that allowed me to have something in the IRS file 2 receive the stimulus package

Re: Coronavirus Stimulus Payment

BillW55 — Mon, 13 Apr 2020 18:13:42 GMT

What handling fees will be deducted from our Coronavirus Stimulus payments?

Re: Coronavirus Stimulus Payment

CatinaT1 — Mon, 13 Apr 2020 18:19:57 GMT

Good question. I haven't seen this addressed either way.