Official COVID-19 (Coronavirus) stimulus payment thread

[Dv041950]

• For the last 2 years I have not worked I only had my social security  as income. I did not have to give my banking information . I completed the forms for Turbo Tax and gave my banking information please tell me that everything looks okay to you. Please email me with your findings. Thank you Deborah Alvesvieira
• Thank you
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[Daly916]

I got my refund this year sent to my bank of America account. I’m going to receive it to that card right? 

[Critter]

@Dv041950 

This is a public forum and no one has access to your return ... if you efiled the SIMPLE return correctly then you would have received an email telling you so. 

[Critter]

@Daly916 

No one here can comment on what the IRS  will do with  a   BOA account ... but if you entered the card DD info into the TT program and that is where the reg tax refund went then that is the same place the Stimulus check should be going. 

[Kivawiva]

I submitted my info using the TurboTax registration tool, as I have no income and have not filed taxes. Now that the IRS has a form/site for this purpose, do I need to submit this as well?

[DoninGA]

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@Kivawiva wrote:

I submitted my info using the TurboTax registration tool, as I have no income and have not filed taxes. Now that the IRS has a form/site for this purpose, do I need to submit this as well?

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No, there is not a need.  You would only be entering the exact same information.

[lisa2400]

Hi, I didn't receive my additional 500 from the stimulate check and I have one depended and he was born 2019 

[crzymom137]

They don't even start coming out until the week of the 13th. And you should get $1,200,plus $500 per child.

[charlie444]

I am 22 years old and wondering if I mistakenly put “can be claimed” on my taxes even though NOBODY claims me will I still receive a stimulus check? If not how can I fix this?

[Hal_Al]

@charlie444 

Look at your form 1040. Underneath the address area is a section titled Standard Deduction.  The box Someone can claim you as a dependent should not be checked. 

It is unclear at this time, whether filing an amended return, to change that will get you the stimulus check in 2020.  If not, you'll get it in 2021. 

"In essence, the stimulus check acts as an advance of your 2020 income tax refund. This means when you prepare your 2020 income tax return, there will be a line to include the section 6428 credit. The credit on your 2020 return is subtracted by any amount received as a stimulus check in 2020. If the amount you received as a stimulus check is less than the credit you are due, the difference will be included as part of your 2020 refund. If you have been overpaid by receiving the stimulus check, however, you will not be required to return any excess amount".

[charlie444]

so this may actually delay my stimulus check even though I haven’t been claimed on anybody’s taxes? 

[RBBrittain]

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@charlie444 wrote:

so this may actually delay my stimulus check even though I haven’t been claimed on anybody’s taxes? 

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Yes because the rule is CAN you be claimed as a dependent, NOT did anyone actually claim you as one.

If you checked that box incorrectly you probably should amend your 2019 return, as it reduced your standard deduction so you may have paid more tax (or gotten a smaller refund) than you were entitled to. However, since amended returns are always on paper and the IRS stopped processing paper returns due to COVID-19, who knows when that will go through. Or, you may have to claim it as a credit on your 2020 return as @Hal_Al said.

[Hal_Al]

"If you checked that box incorrectly you probably should amend your 2019 return, as it  [MAY HAVE] reduced your standard deduction so you may have paid more tax (or gotten a smaller refund) than you were entitled to."

Look at line 8 of form 1040, to see how much your  standard deduction was.   A dependent's  standard deduction is the lower of his earned income + #350 or $1100.  So, it's only dependents with unearned income who  may have paid more tax (or gotten a smaller refund) than they were entitled to.

[Kflowers89]

Does anyone know when the deposit will hit on paypal!

[holt989us]

*EDIT 

Nevermind I sorted it out even though it goes to SBTPG the direct deposit info is still on my return 😉

So I've filed my return with TT for years and have used Direct Deposit.  I was wondering because TT uses Santa Barbara Tax Products Group to issue the refunds to accounts does this mean the IRS never gets my Bank info for direct deposits and are all of use screwed now because it does not go directly from the IRS to our accounts?

I just gotta say if this is so it is bye bye TT forever.  Really could use the money for bills right now because of covid19.