Can't add Bank Account/Routing Number to 1040 form

[SusanY1]

Unfortunately, if you are not getting a refund you cannot enter banking details that will transmit to the IRS.  TurboTax doesn't allow it, because the IRS system won't read it anyhow. 

If you are still missing payments from the first two rounds issued, you can file a claim on the tax return that should generate a refund in order to file and transmit the data. 

If you are trying to submit data for the upcoming dependent care credit advance payments, it is expected that the IRS will open a portal for this as they did the first two stimulus rounds, but they have not announced the procedure for it yet.  

[lcolantuoni14]

Thanks for your response but it does not fullly address my situation.  I am not missing paymetns from first two rounds so cannot file a claim on tax retrun.  I need to submit 202 taxes to get the 3rd stimulus for my dependent not myself.  I normally do not file as am on social security, however IRS said even if you do not file you MUST file to get my dependent stimulus payment and the banking information IRS has is wrong. It cannot be updated through IRS - they said to submit 2020 return with my banking infornation.  Just because I do not receive a refund or owe doesnt matter - they need my accnt info to get the dependent stimulus check. 

You are referring to dependent care credit and that is not what I am talking about.  I am talking abuot directions from IRS to file 2020 w banking ifno to get dpendent stim payment as there is no other way.

So are yo saying that Turbotx leader in tax prep does not have a way to do what the IRS is saying must be done?

[lcolantuoni14]

ALSO  - I am doing my sons taxes and there is no place on 1040 to put in banking information to pay his taxes!!! He owes and I though you could put in banking info on 1040 like for refund but see no place! How does he pay the 1040 owed for federal and state? 

[Cynthiad66]

You must go through the filing process and in step 2 it asks for banking information.  Once you have paid TurboTax then it asks for information on how you want to pay your tax liability.

[lcolantuoni14]

Now I have tow questions:

I am doing my taxes and my sons...I oe nothing and get no refund and dont need to file except to get stimulus for dpendent son. IRS says to file 2020 but I cant put in banking info for stimulus.  If I dont use turbotax can i do taxes by hjand to put that info inor can i prinotff and white out xxx in turbotax and put it banking info ...is it just not allowed due to efile? 

qsnt 2: its May 16 late at night and didnt efile my sons yet and he owes $990- what happens if I efile but it gets rejected after May 17 - does he get pnalties?  is it safer now to printoff and mail it and how do I know what gets printed off. I prefer to efile but payments goes wtih the efile and ik am afraid if it gets rejected! HELP ME! 

[lcolantuoni14]

What about if I printout return and whiteout the xxx and put in banking info and snail mail it? 

Or can i handwrite taxes with the forms donwloanded from IRS and fill it in that way? 

In other words is this a turbotax problme OR efile issue as you said IRS wont 'read' the info - so does that mean I can handwrite taxes and send in? 

I need to update banking info to get my dpendents stimulus...they have wrong banking on file. 

[KathrynG3]

Question 1: [Edited] Banking information is allowed, but only when e-filing either a refund or balance due. TurboTax Employee Expert @SusanY1 is correct, filing a zero would not be possible.

If your son did qualify to receive any stimulus payments as your dependent, your return would not be 0, though. Any missing stimulus payments for your dependent would result in a refund.  However, only dependent children under 17 qualify as dependents for the first and second stimulus payments.

To review how to enter your stimulus payments, follow these steps:

1. Go to the search box and enter stimulus. Click the Jump to link.
2. Answer Yes.
3. At the next screen, Let's double-check the amount you received, answer No to edit the first-round and second-round amounts.
4. If no stimulus amount was received, enter 0. An amount must be entered in each box. When finished, click Continue. Enter what was received. TurboTax will calculate any missing stimulus payment amounts. 

To see your paperwork, download the pdf by following these steps:

• From the left menu, select Tax Home.
• Scroll down to Your tax returns & documents and Show. 
• Select 2020.
• Navigate to the option to download the PDF of your return.
  • The forms are named in the top left and lower right hand corners of each page.
  • Navigate to Form 1040, page 2, Line 30 to see the stimulus payments for your dependent, now entered as the Recovery Rebate Credit. 

Question 2:

• Regarding your concern for your son's return, see: What if I e-filed before May 17, but my return got rejected after the deadline? There is a grace period if the return is submitted before the deadline but was rejected. To minimize any chance of penalties.
  • But, there are two main types of penalties: Failure to file and failure to pay.
    • To avoid the failure to file, file an extension. See: How do I file an IRS extension (Form 4868)?
    • To avoid failure to pay, still pay the tax due today. There is no extra time to pay allowed. 
      • How can I pay my federal taxes? This article shows what you could do instead of paying with e-filing so that the payment would be received on time. It will be matched to his social security number. Yes, you can skip entering payment information and pay separately even if the return was not accepted yet. The IRS will always receive payments from people. Just be sure to identify what year and for whom.
      • What if I can't pay my taxes?
• He would not get penalties for filing late if the e-file did succeed by midnight, May 17, 2021.
• But he has to either pay the balance due, or set up a payment plan by midnight, May 17, 2021. 
  • Penalties can be charged for both failure to file and failure to pay. See: Understanding Penalties and Interest | Internal Revenue Service.
     
• Yes, you could print the return instead.
  • Change from e-filing in the File section. Following the prompts will eventually lead you to the chance of printing the returns. 
    • Print the option for All official forms required for filing, and
    • Save (or print) the option with all calculation worksheets for your records 
    • Mail this certified mail so that you can track it. It is a few dollars more at the post office, but useful to have the mailing postmarked with the date and time.

For any State Tax Returns needed to be filed, see: 

What are my options for getting my state refund or for paying any state taxes I owe?

Question 3: You are correct. I have edited this answer to say that you do not need to file. Due to your son's age, no additional stimulus payment can be received by you. However, he may be able to get the stimulus payments filing single, and not claimed as a dependent on anyone else's return. 

In general, regarding the wrong banking on file, the best thing to do is what you are doing. By filing the 2020 tax return, the banking information will be updated. 

See the rules for each of the stimulus payments here: 

The first stimulus payment was for up to $1,200 each.

The second stimulus payment was for up to $600 each.

[Edited 05/17/2021 | 6:09 AM PST]

@lcolantuoni14

[lcolantuoni14]

!) asnwer to my qstn one about being bale to put in banking info differs from what other turbotax speicalists said:

To the person that just responded - i am more confused now..I must ot have worded my questions carefully...

I received different info from another turbtotax expert that said if I do not owe and do not get refund then I cannot put in bankin ginfo even though IRS directs me to do so to get my dependents stimulus. 

Here  is what they SusanY1 said at top of thread:

 SusanY1

Employee Tax Expert

Wednesday

 

Unfortunately, if you are not getting a refund you cannot enter banking details that will transmit to the IRS.  TurboTax doesn't allow it, because the IRS system won't read it anyhow. 

So, you said that wehn I get to file section I can put in banking info but that is only for if I owe taxes which is my sons case but not mine - I am usually a nonfilre  and am only doing taxes to get his depednent stimulus..

Are you saying that Susan Y is incorrect and I will be able to enter banking info even if I do not owe or get refund?

Also, I just think I read something that says if my adult dependent son - age 21 full time student made more than 4300 then he doesnt qualify.  In fact he did - does that mean he doesnt qualify anyway so need for me to file?  I know other people whose adult dependent college students made more than 4300 and got the stim payments of 1400.  

So, can i  put in my banking info even if i do not owe or get refund becuase other turbotax disucssions and my first asnwer from susan Y was NO - you said something different so i am confused!

My question was can i white out the xxxx on 1040 and put in my accnt info since I do not owed and get no refund...and was told turbotax wont let me put it in...what is the workaround for that so people can get the stimulus to their accnts? 

2) regarding qsnt about my sons taxes being submitted today May 17 but if they  get rejected after MAy 17 and he owes taxes...will he have  penalites? You said no penalties if the efile succeeds by midnight May 17 but I am asking if it gets rejected then does he have late file and lat pay penalites - becuase he owes $990 so I am afraid that if it takes a couple of days to reject then they wont get paymnent until ocrrected after May 19- or can I efile and not put inpayment info and pay separately directly thru directpay even if return not accepted yet?  Of will it not allow me to even pay separately through IRS website unless return was submitted? 

Since it is so late- is it less risky to mail in the return? 

And regarding hte IRS not reading info - you misunderstood - the Susan Y person who said no banking info can be input in turbotax if no refund or payment - she said that the IRS wont read banking info anwyway even if I did put it in - however the IRS says to file even if you noramlly dont to get the stimulus for dependents - so what is the way to fix this problem...

[lcolantuoni14]

Unfortunately, if you are not getting a refund you cannot enter banking details that will transmit to the IRS.  TurboTax doesn't allow it, because the IRS system won't read it anyhow. 

So, you said that wehn I get to file section I can put in banking info but that is only for if I owe taxes which is my sons case but not mine - I am usually a nonfilre  and am only doing taxes to get his depednent stimulus..

Are you saying that Susan Y is incorrect and I will be able to enter banking info even if I do not owe or get refund?

Also, I just think I read something that says if my adult dependent son - age 21 full time student made more than 4300 then he doesnt qualify.  In fact he did - does that mean he doesnt qualify anyway so need for me to file?  I know other people whose adult dependent college students made more than 4300 and got the stim payments of 1400.  

So, can i  put in my banking info even if i do not owe or get refund becuase other turbotax disucssions and my first asnwer from susan Y was NO - you said something different so i am confused!

My question was can i white out the xxxx on 1040 and put in my accnt info since I do not owed and get no refund...and was told turbotax wont let me put it in...what is the workaround for that so people can get the stimulus to their accnts? 

2) regarding qsnt about my sons taxes being submitted today May 17 but if they  get rejected after MAy 17 and he owes taxes...will he have  penalites? You said no penalties if the efile succeeds by midnight May 17 but I am asking if it gets rejected then does he have late file and lat pay penalites - becuase he owes $990 so I am afraid that if it takes a couple of days to reject then they wont get paymnent until ocrrected after May 19- or can I efile and not put inpayment info and pay separately directly thru directpay even if return not accepted yet?  Of will it not allow me to even pay separately through IRS website unless return was submitted? 

Since it is so late- is it less risky to mail in the return? 

And regarding hte IRS not reading info - you misunderstood - the Susan Y person who said no banking info can be input in turbotax if no refund or payment - she said that the IRS wont read banking info anwyway even if I did put it in - however the IRS says to file even if you noramlly dont to get the stimulus for dependents - so what is the way to fix this problem...

[lcolantuoni14]

I cant follow that at all but when i go into worksheet to put in banking info and routing accnt info it doesnt carry over to 1040 becuase I dont get refund or owe but need it for stimulus - turbtoax really scrweed me up - now i dont know what to do this late hour- all was done just needed to put in banking info - thats the whoel reason why i am doing taxes - to get sstimulus as i dont need to file otherwise....do other services allow me to put in info?? 

[KathrynG3]

The stimulus money for a dependent under 17 was:

$500 for the first stimulus payment

$600 for the second stimulus payment

However, if he is providing more than 50% of his own support as a college student, then he could potentially receive up to:

$1,200 for the first stimulus payment

$600 for the second stimulus payment

Regarding the third stimulus, he could potentially receive that, as well. But, it would be done on the 2021 tax return in the spring of 2022. See: How will the third stimulus impact me?

Questions and Answers about the Third Economic Impact Payments — Topic G: Receiving My Payment | Int...

@lcolantuoni14

[lcolantuoni14]

Third payment done 2021 taxes in spring of 2022????!!! Why not this tax season 2020 taxes in 2021 as that is the reason that I am filing for 2020 - as normally I dont need to file. Are you saying i dont need to file until 2021 taxes in 2022 to get third payment for my son - I got mine but he didnt get his...and he cant get first 2 as he is dpendent. So, he couldnt get 3rd becuase I didnt fil ein 2019 - so I am filing now in 2020 - why do you say that he cant get it after I file 2020?

[lcolantuoni14]

I do not see where it says I wont get dependent third stimulus of 1400 for my son until filing 2021 taxesin spring of 2022..

I read this online:

 You can file a tax return even if you didn't work in 2020. While the first batches of the third stimulus check are currently being issued, additional payments will automatically be sent later in the year based on 2020 tax returns.M

[AmyC]

Once your son files, the IRS will know his status and add him to the list, if he qualifies for #3.

As for you and stimulus 3, it is from 2021, it is still being processed and sent. It will not be able to be claimed on tax returns until next year, if missed this year. If the IRS paid you last year, it is expected they will pay this year. Updated details about the third round of Economic Impact. If you did not file 2019, you could file 2020, if you did not use the IRS portal last year. See FreeFile delivered by Intuit TurboTax.

@lcolantuoni14 

[lcolantuoni14]

I recived stim 3- im on social sec disability and they got banking info from them - however becuase I didnt file 2019 - my son who did file but can be claimed as depdent...but wasnt...is no elgible for 3rd stim unless I file a2020 taxes - areyou saying he will get it?  If he didnt get in 2019 - he should get it now as I am claiming him as dpendent - porblem is turbotax doesnt allow to put in banking info. 

Im not sure of your answer - will my son get revaluated based on my 2020 taxes that i am submitting today? 

[lcolantuoni14]

Filed extnsion not thinking I could get done intime and worried that since owe that would get rejected so wanted to pay - 

Can i now submit taxes same day or will it screw things up?