I've had a change of address and bank account information since I last filed. If I update my information on TurboTax will it update to the IRS for the stimulus deposit

[bluedeb · Accepted solution]

Not unless you file the return for 2020.  If you are filing a 2020 tax return, you will change your banking information when you go through the steps to file your return.  The IRS will most likely use information from your 2019 return.  If your banking information is incorrect, you will automatically be switched to receiving a check.  

You cannot change a direct deposit for your 2019 return.  The IRS may or may not have a portal for tax payers to enter their direct deposit information if they are not going to file a 2020 return.  So far no news on how the IRS is going to handle the stimulus checks.

[xmasbaby0 · Accepted solution]

Your banking information cannot be changed after your tax return has been filed and accepted.

Banking information does not go from TT to the IRS until you file your 2020 tax return and it is accepted. The IRS will begin to accept  and process 2020 returns at the end of January 2021.

You enter/change banking information in the FILE section before you file your 2020 return. Changing it on the TurboTax site does not do any good until you file your return and the IRS processes your return.   If they manage to start sending  out stimulus checks before you can change your information, we hope the IRS provides a way for you to change it with the IRS.  If your check goes to a wrong or closed account, it will be sent back to the IRS and then the IRS will mail a check to the address on your tax return.

You change your address in My Info---just like your banking information--that does not go to the IRS until your 2020 return has been filed and accepted.  Make sure you have completed a change of address with the post office.

To change your address with the IRS  (remember they are backlogged and do not open mail quickly)

CHANGE OF ADDRESS

https://www.irs.gov/faqs/irs-procedures/address-changes/address-changes

[bluedeb · Accepted solution]

To add:  You can put a change of address in to the IRS using form 8828.

https://www.irs.gov/taxtopics/tc157

and the form

https://www.irs.gov/pub/irs-pdf/f8822.pdf