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Question

Official COVID-19 (Coronavirus) stimulus payment thread

Forum|Forum|6 years ago
March 27, 2020
176 replies
0 views

For the latest information about COVID-19 stimulus payment checks, refer to this article: https://blog.turbotax.intuit.com/tax-news/what-the-coronavirus-covid-19-stimulus-bill-means-for-your-taxes-46623/

This Help Article is also available for reference:

How are my taxes affected by Covid-19?

You can also post your questions here to receive expert answers and to learn from others during these unprecedented times.

Expletive

Level 2

The IRS recommends e-filing for the stimulus check, but TurboTax doesn't allow you to e-file if you have no taxable income. Will TurboTax allow people without taxable income to e-file so that they don't have to file by mail and potentially spread/catch the Coronavirus?

Critter

Level 15

@Expletive

You are NOT reading that page correctly ... the suggestion to EFILE is for those who are required to file a return ... it is preferred over mailing in a return. If you are NOT required to file and you have income from SS or VA benefits then a check will be mailed to you automatically ... you need not file if you have no reason to file.

Pay attention to the stimulus check info here : https://www.irs.gov/coronavirus

and NOT the general info on this page for those who are required to file : https://www.irs.gov/newsroom/irs-operations-during-covid-19-mission-critical-functions-continue

slobjones

Level 2

READ the info posted at this time ... more info to come :

https://www.irs.gov/newsroom/economic-impact-payments-what-you-need-to-know

The IRS does not have my direct deposit information. What can I do?

In the coming weeks, Treasury plans to develop a web-based portal for individuals to provide their banking information to the IRS online, so that individuals can receive payments immediately as opposed to checks in the mail.

I am not typically required to file a tax return. Can I still receive my payment?

Yes. People who typically do not file a tax return will need to file a simple tax return to receive an economic impact payment. Low-income taxpayers, senior citizens, Social Security recipients, some veterans and individuals with disabilities who are otherwise not required to file a tax return will not owe tax.

How can I file the tax return needed to receive my economic impact payment?

IRS.gov/coronavirus will soon provide information instructing people in these groups on how to file a 2019 tax return with simple, but necessary, information including their filing status, number of dependents and direct deposit bank account information.

I followed instructions to file my 2019 1040 (https://www.irs.gov/coronavirus/non-fi[product key removed]nt-info-here), specifically so the IRS has my bank account information and can complete its direct deposit of my $1,200 stimulus.

However, I had zero income in 2019 (which makes me a "non-filer") and because of that the online portal keeps kicking my return back to me, insisting that "At least one of the following must have a non-zero value on Form 1040".

And yet, I'm told that "non-filers" can and should use this portal to provide their banking info. But the IRS keeps kicking back the form. I'm stuck in a Catch-22.

Can I in fact file taxes with zero income for the year? If I can't, how do I get my banking information to the IRS?

Thanks.

Goalie79

Level 2

Married Filing Jointly (what we have normally done) we may be over the threshold for a stimulus payment. Can we continue to prepare our TurboTax filing that way, then copy that saved return into two separate files and model Married Filing Separately to see if that would allow at least one of us to receive a stimulus payment? Income wise, one of us is impacted significantly more by the current situation than the other.

DoninGA

Level 15

@Goalie79 wrote:

Married Filing Jointly (what we have normally done) we may be over the threshold for a stimulus payment. Can we continue to prepare our TurboTax filing that way, then copy that saved return into two separate files and model Married Filing Separately to see if that would allow at least one of us to receive a stimulus payment? Income wise, one of us is impacted significantly more by the current situation than the other.

You are prepared to lose $12,200 in a Standard Deduction on your federal tax return for a $1,200 stimulus check?

Goalie79

Level 2

Ouch....why I asked ! I knew someone would have an answer! Thanks for your prompt response.

Ddeg12

Level 2

I wrongfully labeled myself as a dependent although I paid for all of my own things and nobody claimed me on their returns. Will I be able to receive a stimulus check?

Critter

Level 15

OK ... FIRST .... will people on SS benefits ONLY ... at this time you do NOT need to file anything to get the stimulus check HOWEVER if you read the article did you not notice the word "MAY" not must but since the IRS has not issued any guidance on this situation I would watch the IRS for the OFFICIAL word and not the "talking heads" that just need to say something to sell papers. https://www.irs.gov/coronavirus

Next ... if you filed an incorrect return you will need to amend it however it may not process fast enough to get the stimulus check. The unofficial word on the street is this is an advance of a 2020 credit based on your 2020 situation that will be reconciled on the 2020 return .... so if you don't get the correct amount in advance you will on the return ... again ... NOT a confirmed rule yet ... keep watching the IRS site for the final word .... https://www.irs.gov/coronavirus

hunakai

Level 2

Question about direct deposit for coronavirus payments. I owed money to the irs and submitted my checking info on my 2018 return with direct debit and paid off my balance. Would the IRS direct deposit the stimulus payment to that checking account I submitted on the return? Or will they mail it? Thanks!

Turtle8

Level 2

According to an old IRS FAQ about the 2008 stimulus:

https://www.irs.gov/newsroom/economic-stimulus-payment-qas-direct-deposit

If they follow the same procedure as they did previously, entering direct deposit information on my tax return even if I'm NOT expecting a refund will allow the stimulus to be direct deposited. Unfortunately, it is not possible to manually enter direct deposit information in TurboTax unless I am owed a refund. I use the desktop version of TT.

Could you guys add the option to manually enter this information?

LeonardS

Level 14

Any implementation of the stimulus package can not take place until the IRS finalizes the stimulus procedure. You can check for updates at TurboTax Corona Virus Update Center and here IRS Corona Virus Update Center.

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jayjin20

Level 2

I work and live abroad, but I heard I could also be eligible to receive the stimulus payment. I don't get any refund and I also don't owe anything, so TurboTax doesn't ask me for my direct deposit information and I don't see any way to enter it manually. Is there any way I can add my bank information to my returns before it gets submitted? Right now it's just all X's when I preview my tax return.

DoninGA

Level 15

@jayjin20 wrote:

I work and live abroad, but I heard I could also be eligible to receive the stimulus payment. I don't get any refund and I also don't owe anything, so TurboTax doesn't ask me for my direct deposit information and I don't see any way to enter it manually. Is there any way I can add my bank information to my returns before it gets submitted? Right now it's just all X's when I preview my tax return.

Go to this IRS website for information - https://www.irs.gov/newsroom/economic-impact-payments-what-you-need-to-know

jayjin20

Level 2

Thank you so much! Very helpful.😃

For anyone else who is curious, this is what the IRS website said:

The IRS does not have my direct deposit information. What can I do?

In the coming weeks, Treasury plans to develop a web-based portal for individuals to provide their banking information to the IRS online, so that individuals can receive payments immediately as opposed to checks in the mail.

Saltwateraddict

Level 2

I am a 23 year old who works full time but I still live at home. Am I eligible for the $1,200 stimulus check if I can still be claimed and on my parents health insurance?

DavidD66

Level 15

Your health insurance has nothing to do with your stimulus payment eligibility. If you can be claimed as a dependent by someone else, you are not eligible. If you work full time and are not a student, then you probably aren't eligible to be claimed by someone else, which means you will get a stimulus payment. If you were claimed as a dependent for 2018 and you haven't yet filed 2019 indicating that no one else can claim you, you will probably not receive a payment until you file.

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vucci

Level 2

Let me get the facts straight: I was unemployed 2018 and 2019 but I believed my parents claimed me as a dependent. Since I was unemployed I did not file a tax form for 2018 and 2019.

Am I still eligible for the stimulus check? And for safety measure, I just file a free turbo tax federal and state so they have my info and address on file.

What is my best course of action to be eligible for the stimulus check? Thank you for taking your time to read this.

Lurrch

Level 2

My mother (61) adopted 2 special needs boys a while back and her only income is the adoption money she gets. She doesn't file because this isn't taxable money. How can she be sure to get a stimulus check?

marc386999

Level 2

Will I have any trouble getting my stimulus check? I filed 2018 and, I think 2017 as well, with TurboTax, and entered my Direct Deposit info on the return. However, the IRS has been keeping whatever refund I am owed to pay on student loan, which will hopefully be paid off in the next year or so, only owe between 3-4k now. Will they still have my banking info on file for purposes of receiving my $1,200 stimulus payment, or will I need to go input that on the IRS site, once they have that up and running?

Critter

Level 15

The stimulus check will not be taken for student loans.

marc386999

Level 2

No, I understand that, I am just wondering, since I never actually got a direct deposit due to them keeping my refund, will they have my direct deposit info on file? Even though they withheld my check, the info WAS on my return. I don't want to suddenly find out mine is being sent through the mail because of that.

nlanci17

Level 2

If we efiled through Turbo Tax and received a refund this year, will the IRS have OUR direct deposit info or the 3rd party they use to take the fees out. Turbo tax refunds get run through another bank before it gets to use so how will the IRS know who's account info to send the payment to?

Critter

Level 15

Maybe ... details still to come if you used the refund processing option to have the TT fees withheld from the fed refund ... https://www.sbtpg.com/coronavirus-stimulus-payment-info/

SO look at your 2019 form 1040 at the DD info on page 2 ... if that is the same DD info for the Debit card (or your personal account) you have then the IRS already has the card info and will send it there automatically.

If not then it is still to be determined if the deposit will go thru the third party processing bank like the original refund OR if you will need to change that DD info in the IRS portal to be built OR just get a check.

How will the IRS know where to send my payment?

The vast majority of people do not need to take any action. The IRS will calculate and automatically send the economic impact payment to those eligible.

For people who have already filed their 2019 tax returns, the IRS will use this information to calculate the payment amount. For those who have not yet filed their return for 2019, the IRS will use information from their 2018 tax filing to calculate the payment. The economic impact payment will be deposited directly into the same banking account reflected on the return filed.

The IRS does not have my direct deposit information. What can I do?

In the coming weeks, Treasury plans to develop a web-based portal for individuals to provide their banking information to the IRS online, so that individuals can receive payments immediately as opposed to checks in the mail.

https://www.irs.gov/newsroom/economic-impact-payments-what-you-need-to-know

Patience will be needed while hard working folks are trying their best to develop and implement this distribution DURING a tax season AND a pandemic.

lightpull

Level 2

How do I determine if the IRS has my account information so they can send a deposit directly to my Credit Union account?

LeonardS

Level 14

The IRS will have your account information if you filed a 2018 or 2019 tax return and it included your banking information. If you are receiving SS or RR benefits the IRS will use the banking information associated with those accounts.

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