Stimulus check and bank info showing on my return

[bluedeb · Accepted solution]

@Rob2020 Here is more information on the stimulus money.

Stimulus checks will begin to arrive next week

The IRS said the first checks for those who have direct deposit set up with the IRS will start to go out the week of April 13. 

The stimulus money will arrive either in your bank account if you set up direct deposit with the IRS for past refunds during tax season, or in the mail with your registered address. 

If you would like to set up direct deposit to receive your payment directly to your bank account, the IRS said it expects to have an online tool you can use to set up and track electronic payments by April 17. 

While we know when to expect the first checks, we don't know how long it will take for the IRS to process a check for every entitled taxpayer, of which there could be more than a hundred million. 

[Rob2020]

Thank you so much but what was that I read earlier? The IRS wouldnt use the direct deposit info that was put in since the refund was offset....even though the state deposited into the same account? Someone said they are separate? Doesnt really sound correct to me. 

[bluedeb]

@Rob2020  The IRS & State are two separate agencies, but even if a Federal refund was taken for an offset the direct deposit information is still on the tax return sent to the IRS.  If your Federal tax return did not have any direct deposit information on it, then you would need to use the IRS portal to enter the direct deposit information (the IRS will not get it from the State return).

[Rob2020]

Ok thank you so much for your help! 

[bluedeb]

@Rob2020  Your Welcome!

[Jaksuuu]

Did he receive a refund advance? I’m wondering how it’s going to work for those who have received one.

[Demartae_allen17]

all I want to do is change my direct deposit account numbers and my routing account on turbotax

[Critter]

Once your return is filed and accepted you CANNOT change the DD info on the TT system ... if you do it will go nowhere.

All you can do is wait for the IRS portal to open ...

If you have already filed a 2019 return there is nothing you can do until something happens on the IRS side… and they are ahead of schedule which is evidenced by the test deposits some saw on Friday. 

If you get the DD in the next 2 weeks then you are done. 

If you do not get the DD by the time the IRS finally opens the promised portal (now expected by 4/17) then you can check on the status and/or  update your information at that time.    https://www.irs.gov/coronavirus/economic-impact-payments

https://www.irs.gov/coronavirus/economic-impact-payments

To help everyone check on the status of their payments, the IRS is building a second new tool expected to be available for use by April 17. Get My Payment will provide people with the status of their payment, including the date their payment is scheduled to be deposited into their bank account or mailed to them.

An additional feature on Get My Payment will allow eligible people a chance to provide their bank account information so they can receive their payment more quickly rather than waiting for a paper check. This feature will be unavailable if the Economic Impact Payment has already been scheduled for delivery.

[sandyalex3563]

I file my taxes with turbo tax and I include my bank account for direct deposit, and I receive already my refund in my account, do I have to do something or not to the IRS

[DoninGA]

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@sandyalex3563 wrote:

I file my taxes with turbo tax and I include my bank account for direct deposit, and I receive already my refund in my account, do I have to do something or not to the IRS

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If you received a 2019 federal tax refund by direct deposit then the IRS has your information to direct deposit the stimulus payment.

[Demartae_allen17]

my back account closed with out informing , so I need to know how to change my direct deposit account  in turbotax 

[MayaD]

If you already filed your return, you can no longer change your bank information. 

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. IRS website 

[RBBrittain]

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@Jaksuuu wrote:

Did he receive a refund advance? I’m wondering how it’s going to work for those who have received one.

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That's treated the same as fees. Intuit provided your Turbo Card's direct deposit info to SBTPG to forward your refund after deducting the advance (and its own fee); SBTPG then provided the Turbo Card info to the IRS to issue the stimulus.

[RBBrittain]

@MayaD @Critter Also take note of this Treasury press release: https://home.treasury.gov/news/press-releases/sm972 . It tells what detailed information you'll need to use the "Filers: Get My Payment" portal once it opens. Also, it says that you will NOT be able to change existing bank info thru the portal for security reasons; you can only provide bank info there if you're scheduled to receive a paper check and it hasn't been issued yet. (Presumably if your stimulus was returned by your bank, once the IRS receives it, removes the bank info from its records & puts you in the paper check line, you should then be able to enter your new bank info.)

Also, this Treasury press release confirms the target date for completing stimulus direct deposits is Wednesday, April 15: https://home.treasury.gov/news/press-releases/sm975 . It doesn't say clearly, but I understand non-filers who receive Social Security or railroad retirement will be in a future batch and may not get their direct deposits by that date.

[InsanoShaman]

Here's the situation.  Me and my wife file every year early and get it out of the way.  We both are offset for student loan debt.  I understand that we are still entitled to stimulus money, but will they still have our information on file.  We provide TurboTax with our direct deposit because we pay for it every year even though we know we are not entitled to a tax return.  Does the IRS still have our information even though they take it and turbotax knows how to auto-debit my bank account?