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I need help to update my new checking account to with you all so I can receive my second stimulus. What can I do this?

 
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5 Replies
CatinaT1
Employee Tax Expert

I need help to update my new checking account to with you all so I can receive my second stimulus. What can I do this?

This link provides the most up to date information available from the IRS:  IRS Update

 

If you have a Turbo Card, this link will be helpful to you:  Turbo Card

 

This link will tell you more about the Recovery Rebate Credit:  Recovery Rebate Credit.

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evewoh19
New Member

I need help to update my new checking account to with you all so I can receive my second stimulus. What can I do this?

there's no way to edit my checking account 

I need help to update my new checking account to with you all so I can receive my second stimulus. What can I do this?

You can call the IRS directly toll-free at 800-829-1040, M - F, 7 a.m. - 7 p.m to change your bank information.  However, the IRS is no longer sending payments.  You can receive your stimulus payment through the Recovery Rebate Credit.

 

https://www.irs.gov/coronavirus/get-my-payment

 

To receive your stimulus payment that has not yet been sent to you by the IRS, complete your 2020 tax return with TurboTax.   At the end of the interview, the software prompts you about your stimulus payment. If you did not receive one, it will factor in as a credit and you will receive a refund.

 

Your 2020 TurboTax return "stimulus credit" should kick the payment into action, making it easier for you to receive it timely without chasing it down.  

 

If I didn't receive my payment

 

Every stimulus check recipient should get a confirmation letter in the mail. If you received the letter but no money, you can initiate a trace on your payment by calling the IRS at 800-919-9835.   

 

If you didn't receive a letter, or if you believe your payment could be lost or stolen, you can view your account on the IRS website.  From there, you can also view the status of your stimulus payment and contact the IRS directly.

 

@evewoh19

 

evewoh19
New Member

I need help to update my new checking account to with you all so I can receive my second stimulus. What can I do this?

Please advise me how to update my checking account information?

JamesG1
Expert Alumni

I need help to update my new checking account to with you all so I can receive my second stimulus. What can I do this?

You may choose to update your checking account information on your 2020 Federal 1040 income tax return, but the IRS will not generate your second stimulus check after you update your checking account information.

 

If you have not received one or both of your stimulus checks, you will receive your payment in the form of a Recovery Rebate Credit on line 30 of your 2020 Federal tax return when you file.

 

TurboTax will compare your one or two stimulus payment amounts to the computations within TurboTax.  The computations within TurboTax are based upon the information that you have entered into the tax software.  If you are due an additional amount, it will be issued as a Recovery Rebate Credit (RRC) on line 30 of the 2020 1040 tax return.

 

In TurboTax Online, you are prompted to input stimulus check 1 and stimulus check 2 information under Review down the left hand side of the screen.

 

You can access your stimulus check choices by following these steps: 

  • Down the left side of the screen, click on Federal.
  • Across the top of the screen, click on Other Tax Situations.
  • At the screen Let’s keep going to wrap up.  Click on Let’s keep going.
  • At the screen Let’s make sure you got the right stimulus amount, click Continue.
  • At the screen Did you get a stimulus payment? you can update your stimulus check entries. 

See also this TurboTax Help.

 

If your 2020 Federal 1040 tax return generates a refund, you may include your checking account information on your 2020 Federal 1040 income tax return.  This would notify the IRS of your most current address and banking information if there is legislation to authorize a third round of stimulus payments.

 

To change refund banking account:

  • Sign in to TurboTax Online.
  • Select Take me to my return.
  • Select Pick up where I left off.
  • Select the File tab (right of the screen).
  • Select Revisit / Start next to Your refund info.
  • Select In my bank.
  • Edit on the Let's get your bank account info screen.
  • Press Continue (bottom right corner)

As of this date, the legislation to authorize a third round of stimulus payments has not been enacted and signed into law.  Google 'third round of stimulus checks' to review news articles on the topic.

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