Coronavirus Stimulus Payment

[dms616]

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?

[ColeenD3 · Accepted solution]

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

[oldhamwe1]

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?

[DianeC958]

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?

[Larrywman]

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?

[MaryK4]

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

[Larrywman]

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?

[Critter]

@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/

[Critter]

@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. 

[oldhamwe1]

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.

[LeonardS]

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.

[Critter]

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. 

[bige2443]

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.

[Kalibsdaddy2]

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

[Kalibsdaddy2]

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]