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Turbo Card and Stimulus Deposits - What you need to know
In order to deliver money as quickly as possible to those who need it, the IRS is sending stimulus payments to eligible taxpayers who filed a tax return in either 2019 or 2018 and chose to receive their refund via direct deposit into their checking account. These taxpayers will automatically have their stimulus payment deposited into the account they received their refund.
We have not yet received confirmation from the IRS on whether they will be putting stimulus payments on prepaid debit cards. However, we have noticed that the IRS has started depositing stimulus payments on some prepaid debit cards for taxpayers that chose to receive their refund through that method in tax year 2019 or 2018. If you received your refund on a prepaid debit card in tax year 2019 or 2018, here is what you need to know:
What about those filers whose choose to have the remainder of their return direct deposited to their bank and NOT the Turbo card???
@buny2489
If you provided your bank account information on your tax return, the IRS has that information. If your account was one that was affected by the recent processing error, TurboTax has been working with the IRS to ensure that they have the proper information for a second attempt to deposit funds directly into customer bank accounts in the next day or two.
If you have not received your payment by January 15, 2021, AND your status remains "unavailable" at Get My Payment, then you will claim your credit when you file your tax return.
Please allow a few days after the 15th for the mailing of any check or debit card issued by the IRS.
You will find the most current updates posted here: IRS Updates on the Second Stimulus and here: TurboTax updates on the second stimulus. Both of these sites will continue to be updated as more information becomes available.
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