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geoffrey-gilbert
Level 1

I got a fed refund via direct deposit in 2018, but owed fed in 2019 and paid via credit card. Will the Treasury use my 2018 DD information for my stimulus payment?

 
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AmyC
Expert Alumni

I got a fed refund via direct deposit in 2018, but owed fed in 2019 and paid via credit card. Will the Treasury use my 2018 DD information for my stimulus payment?

Our understanding is that 2018 will be used. 

We are still waiting for IRS guidance regarding updating or providing direct deposit information for the stimulus payments. We will have more information once the government finalizes the details. In the meantime, you can visit the following links for the most recent updates:

IRS Coronavirus Tax Relief  

TurboTax Corona Virus Tax Center Updates

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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geoffrey-gilbert
Level 1

I got a fed refund via direct deposit in 2018, but owed fed in 2019 and paid via credit card. Will the Treasury use my 2018 DD information for my stimulus payment?

Just as an update, the official answer came today.  The 2018 direct deposit information was not used.  (If I had to guess, it would be because it was over a year ago, and they are trying to prevent sending money to an account that hasn't been confirmed recently.  This is a good control to prevent the money going to someone it was not intended for, so I get it.)  I went to the IRS Website (https://www.irs.gov/coronavirus/economic-impact-payments) and put in my information.  I did confirm I qualified for a payment and asked for my direct deposit information.  Before accepting it, the website also had me confirm some information from my most recent tax filing, so it would be good to have that information handy when attempting to do this.  I was able to enter that information quickly and the site indicated the payment would be sent via direct deposit.

 

What I don't know is whether or not my payment will be processed faster since my banking information matches what they had on file from 2018.  If new information is used, I could see it potentially taking longer to process as there may be an additional anti-fraud check in place.

View solution in original post

2 Replies
AmyC
Expert Alumni

I got a fed refund via direct deposit in 2018, but owed fed in 2019 and paid via credit card. Will the Treasury use my 2018 DD information for my stimulus payment?

Our understanding is that 2018 will be used. 

We are still waiting for IRS guidance regarding updating or providing direct deposit information for the stimulus payments. We will have more information once the government finalizes the details. In the meantime, you can visit the following links for the most recent updates:

IRS Coronavirus Tax Relief  

TurboTax Corona Virus Tax Center Updates

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
geoffrey-gilbert
Level 1

I got a fed refund via direct deposit in 2018, but owed fed in 2019 and paid via credit card. Will the Treasury use my 2018 DD information for my stimulus payment?

Just as an update, the official answer came today.  The 2018 direct deposit information was not used.  (If I had to guess, it would be because it was over a year ago, and they are trying to prevent sending money to an account that hasn't been confirmed recently.  This is a good control to prevent the money going to someone it was not intended for, so I get it.)  I went to the IRS Website (https://www.irs.gov/coronavirus/economic-impact-payments) and put in my information.  I did confirm I qualified for a payment and asked for my direct deposit information.  Before accepting it, the website also had me confirm some information from my most recent tax filing, so it would be good to have that information handy when attempting to do this.  I was able to enter that information quickly and the site indicated the payment would be sent via direct deposit.

 

What I don't know is whether or not my payment will be processed faster since my banking information matches what they had on file from 2018.  If new information is used, I could see it potentially taking longer to process as there may be an additional anti-fraud check in place.

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