IRS says they don't have direct deposit information for people filed tax using Turbotax to send Economic Impact Payments. What is Turbotax doing to address this matter?

[DoninGA]

If you filed a 2019 or 2018 federal tax return with a federal tax refund and selected Direct Deposit for the tax refund then the IRS has your bank routing and account information.  When you e-file a federal tax return with a federal tax refund and select Direct Deposit the bank routing and account information is sent with the tax return.  This has been the procedure for sending direct deposit information every tax year since e-file of tax returns started over twenty years ago.

However, if you selected to have your TurboTax account fees deducted from the federal tax refund, then there may be an issue where the IRS will not have your direct deposit information.  That is being corrected by the third party processors who handle those federal tax refunds and the IRS.

[Critter]

TT has nothing to do with any payments ... if you used the third party processing bank to withhold the TT fees from the federal refund  then your issue is with them ... and according to their web site the refunds/stimulus checks will be passed thru to either your bank account or the Debit card.

https://www.sbtpg.com/coronavirus-stimulus-payment-info/

I paid for tax preparation using Santa Barbara TPG this tax season. How will I receive my Economic Impact Payment?

The IRS will issue direct deposits to taxpayers that requested a direct deposit disbursement or applied for a new debit card when they prepared their own return online. An IRS-issued check will be mailed to taxpayers that requested a check printed from their tax professional's office, Walmart Direct2Cash or a Walmart MoneyCard issued by their tax professional.

If a payment is returned to the IRS (Ex. bank account is closed), the IRS will mail a check to the taxpayer.

In the rare event that payments are inadvertently sent to TPG, a plan is in place to help identify and expedite the return of these payments immediately to the IRS so that the IRS can reissue payments directly to affected taxpayers as soon as possible. If we are unable to identify the payment as an Economic Impact Payment, the deposit will be processed as a federal refund, with all associated fees withheld from the deposit amount.

We understand that taxpayers need their refund or EIP more than ever, so we are committed to getting money to taxpayers as quickly and easily as possible.