I need to update my information

[jtinkcaver]

I need to change my banking information because my banking account has been closed

[DoninGA]

TurboTax does not store your bank information.

Once a tax return has been filed the bank information cannot be changed.

When you file the 2020 federal tax return you can enter the bank routing and account number for a direct deposit of a federal tax refund in the File section of the TurboTax program.

[VolvoGirl]

You can only change it when you file your 2020 return.  And you can't file until Jan27.  You enter or change it when you go through the File Tab.

For the Stimulus......We don't know if the IRS will have a way to change it Online before you file your 2020 return.

[rjs]

There is no way to change your bank information for the second stimulus payment. For security reasons, the IRS is not expected to provide a way to change it. If the account has been closed, the bank will reject the deposit. The IRS will then mail a check for your payment to the most recent address they have on file, which is usually the address on the last tax return that you filed. It will take about two weeks for you to get the check after the bank rejects the deposit.