topic I moved states and changed banks accounts how do I go about my taxes now? in Other financial discussions

I moved states and changed banks accounts how do I go about my taxes now?

mayahbscott18 — Sat, 02 Jan 2021 18:15:02 GMT

Re: I moved states and changed banks accounts how do I go about my taxes now?

xmasbaby0 — Sat, 02 Jan 2021 18:18:21 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

Re: I moved states and changed banks accounts how do I go about my taxes now?

DoninGA — Sat, 02 Jan 2021 18:18:50 GMT

You enter your current mailing address for the 2020 tax return in the My Info section of the program.

You enter your bank routing and account number for a direct deposit in the File section of the program on Step 2.

Go to this IRS website for address changes - https://www.irs.gov/faqs/irs-procedures/address-changes

Make sure that you have notified the US Postal Service your address change - https://moversguide.usps.com/mgo/disclaimer

If reference to any stimulus payment -

The payment will go to the account you entered for direct deposit on the 2019 tax return. If the account is closed the IRS will send the payment by mail or on a debit card.

Go to this IRS website for stimulus information - https://www.irs.gov/newsroom/treasury-and-irs-begin-delivering-second-round-of-economic-impact-payme...

Re: I moved states and changed banks accounts how do I go about my taxes now?

xmasbaby0 — Sat, 02 Jan 2021 18:20:11 GMT

Another consideration if you moved during 2020:

When you prepare your 2020 tax return you can change your address in My Info--but that will not go to the IRS until you file your tax return. The IRS will not be accepting 2020 returns until the end of January.

To change your address now with the IRS --- but this takes weeks --

CHANGE OF ADDRESS

https://www.irs.gov/faqs/irs-procedures/address-changes/address-changes

Make sure the post office is forwarding your mail.

And....if you lived and worked in more than one state during 2020 you may have more than one state tax return to prepare and file. Post back to us if you need help with that.