Breaking news alert as of 1/6/21 The IRS backtracks on it's own rules yet again with reguards to the issuance of the second stimulus checks ... what a shocker !!!
Once again the IRS makes errors and the processing banks have to rescue them after both the IRS and processing banks originally posted that the checks would be mailed only and skip the bank direct deposits completely … one day the confusion will be avoided all together so millions who pay the extra fee to use the refund processing service will not have to wait at the back of the line. These are the folks who need the money the most since many cannot afford to pay the TT fees upfront, don't have a credit/debit card to make the payment and/or do not have bank accounts of any kind.
This was announced this afternoon.
The TurboTax Blog | It's all about the refund (intuit.com)
And the processing bank site also updated today.
https://turbotax.intuit.com/coronavirus/
Going forward I hope that folks who qualify for one of the IRS FREE FILE options use the free file link and stop paying fees they don’t have to pay and be insulted with an extra processing fee on top of it. If the taxpayer needs a debit card to receive the refund then they can get one for only $5 at almost any store instead of paying $45+ thru TT.
If you qualify AND if you wait until mid January THEN you can use one of the 10 IRS FREE FILE options to file a fed & state return for free ... but you must be patient. https://www.irs.gov/filing/free-file-do-your-federal-taxes-for-free
IRS Free File: Closed until January 2021
IRS Free File is closed for the 2020 tax season. Check back in January for Filing Season 2021 opening details.
For Filing Season 2021, you must make $72,000 or below to use one of the 10 IRS Free File partner offers.
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