Official COVID-19 (Coronavirus) stimulus payment thread

[Turtle8]

According to an old IRS FAQ about the 2008 stimulus:

https://www.irs.gov/newsroom/economic-stimulus-payment-qas-direct-deposit

If they follow the same procedure as they did previously, entering direct deposit information on my tax return even if I'm NOT expecting a refund will allow the stimulus to be direct deposited. Unfortunately, it is not possible to manually enter direct deposit information in TurboTax unless I am owed a refund. I use the desktop version of TT.

Could you guys add the option to manually enter this information? 

[LeonardS]

Any implementation of the stimulus package can not take place until the IRS finalizes the stimulus procedure.  You can check for updates at TurboTax Corona Virus Update Center and here IRS Corona Virus Update Center.  

[Daileerightherrle]

Ok really per what source did you here that... How I n the world would my new address and bank info or anything reach the government if you didn't work last year... Really

[LeonardS]

If you worked in 2018 and not in 2019 the IRS will use your 2018 tax information.  There are some questions that can't be answered definitively at this time. Please check for updates here TurboTax Corona Virus Update Center and here IRS Corona Virus Update Center.

[Critter]

@Daileerightherrle 

If you have not filed a 2019 return and need to update your address then mail in a form 8822 per the IRS regs :

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

[jayjin20]

I work and live abroad, but I heard I could also be eligible to receive the stimulus payment. I don't get any refund and I also don't owe anything, so TurboTax doesn't ask me for my direct deposit information and I don't see any way to enter it manually. Is there any way I can add my bank information to my returns before it gets submitted? Right now it's just all X's when I preview my tax return.

[DoninGA]

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@jayjin20 wrote:

I work and live abroad, but I heard I could also be eligible to receive the stimulus payment. I don't get any refund and I also don't owe anything, so TurboTax doesn't ask me for my direct deposit information and I don't see any way to enter it manually. Is there any way I can add my bank information to my returns before it gets submitted? Right now it's just all X's when I preview my tax return.

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Go to this IRS website for information - https://www.irs.gov/newsroom/economic-impact-payments-what-you-need-to-know

[jayjin20]

Thank you so much! Very helpful.😃

For anyone else who is curious, this is what the IRS website said:

The IRS does not have my direct deposit information. What can I do?

In the coming weeks, Treasury plans to develop a web-based portal for individuals to provide their banking information to the IRS online, so that individuals can receive payments immediately as opposed to checks in the mail.

[sheraton06]

IRS.GOV/CORONAVIRUS:   "However, some seniors and others who typically do not file returns, will need to  to submit a simple tax return to receive the stimulus  payment". Who are these people who need to

file?

[Critter]

READ the info posted at this time ... more info to come :  

https://www.irs.gov/newsroom/economic-impact-payments-what-you-need-to-know

The IRS does not have my direct deposit information. What can I do?

In the coming weeks, Treasury plans to develop a web-based portal for individuals to provide their banking information to the IRS online, so that individuals can receive payments immediately as opposed to checks in the mail.

I am not typically required to file a tax return. Can I still receive my payment?

Yes. People who typically do not file a tax return will need to file a simple tax return to receive an economic impact payment. Low-income taxpayers, senior citizens, Social Security recipients, some veterans and individuals with disabilities who are otherwise not required to file a tax return will not owe tax.

How can I file the tax return needed to receive my economic impact payment?

IRS.gov/coronavirus will soon provide information instructing people in these groups on how to file a 2019 tax return with simple, but necessary, information including their filing status, number of dependents and direct deposit bank account information.

[Critter]

FYI .... this is an advance on a 2020 credit so for those who do not get the money now you can file a 2020 return next tax season to get the credit.   

And if you get too much credit in advance you will not be required to repay it .... AND if you do not get enough you will get it on the 2020 return.  

So bottom line is be patient and check the IRS site every so often to see what the current directions are ... remember they are dealing with the tax season along with the unusual stimulus bill all while dealing with a global health crisis.  They are doing the best they can. 

[Jasonwi70]

Hello

    I am 70 years old single retiree, and my only income of the year comes from Social Security Administration. Because my annual income is BELOW file threshold, and I decide not to file my tax return for both Year 2018 & 2019. My last file happened on Year 2017.

     Here is my question, will I still eligible to get “coronavirus stimulus payment” even I do NOT file (because I do not Require to file) both Year 2018 & 2019 ?    By the way, I still keep the same bank account which I provided on my 2017 tax return, in case IRS need for direct deposit.

Thanks

[DavidD66]

Yes, you are still eligible and will receive a stimulus payment.  IRS.gov/coronavirus will soon provide information instructing people who are otherwise not required to file a tax return, on how to file a 2019 tax return with simple, but necessary, information including their filing status, number of dependents and direct deposit bank account information.

[Jasonwi70]

Thanks for your response, David. Do you mean in order to get payment,  I will still have to file 2019 “simple” tax return which including my filing status, number of dependents and direct deposit bank account information ?

In addition,  due to coronavirus, have IRS AUTOMATICALLY extended deadline of 2020 “federal” tax return to July 15th without filing any request form ?  Also, I live@New York City, I just wonder does NYC extend “state” level tax due day to July 15th as well ?

Thanks again

[DavidD66]

It is my understanding that as things stand now, social security recipients that have not filed a tax return will have to file in order to receive a stimulus check.  This very well may change in the near future - it's been less than a week since the bill was passed and signed into law.  The IRS has extended the April 15 deadline to July 15.  No extension request has to be filed.  New York follows IRS filing deadlines, so when the IRS extended their deadline, the New York deadline was automatically extended as well.