The following is a message from TurboTax:
Thank you for all your concern.
Update from SBTPG.
Most recent messaging from us:
"We are happy to share that stimulus payments will begin to be deposited today, Jan 8th, for millions of our customers affected by the IRS error. We expect most of these payments to be available today, but banks could take a few business days to process. Payment will be deposited into the same bank account that customers received their 2019 tax refund. Customers receiving a stimulus payment received an email from TurboTax letting them know their stimulus payment is on the way.
For more stimulus information, please visit the Stimulus hub here: https://turbotax.intuit.com/stimulus-check/"
Also, for any stimulus money you did not receive (first or second stimulus money or you did not receive the full amount, you can claim it on your 2020 tax return (which you file in 2021).
On your 2020 return (filed in 2021), you will be asked about the stimulus money. Enter any amount you have already received (if any) . Then the program will calculate if you are owed more money (which would include any amount you qualify for the second stimulus money), or it will show you don't qualify.
After the Other Tax Situations section (Federal Review) of the 2020 TurboTax program you will be asked about the stimulus payment received or not received in 2020.
After you asked about the stimulus payment & you qualify, you will get the Recovery Rebate Credit (stimulus) on the 2020 federal tax return, Form 1040 Line 30.
The following is a message from TurboTax:
Thank you for all your concern.
Update from SBTPG.
Most recent messaging from us:
"We are happy to share that stimulus payments will begin to be deposited today, Jan 8th, for millions of our customers affected by the IRS error. We expect most of these payments to be available today, but banks could take a few business days to process. Payment will be deposited into the same bank account that customers received their 2019 tax refund. Customers receiving a stimulus payment received an email from TurboTax letting them know their stimulus payment is on the way.
For more stimulus information, please visit the Stimulus hub here: https://turbotax.intuit.com/stimulus-check/"
Also, for any stimulus money you did not receive (first or second stimulus money or you did not receive the full amount, you can claim it on your 2020 tax return (which you file in 2021).
On your 2020 return (filed in 2021), you will be asked about the stimulus money. Enter any amount you have already received (if any) . Then the program will calculate if you are owed more money (which would include any amount you qualify for the second stimulus money), or it will show you don't qualify.
After the Other Tax Situations section (Federal Review) of the 2020 TurboTax program you will be asked about the stimulus payment received or not received in 2020.
After you asked about the stimulus payment & you qualify, you will get the Recovery Rebate Credit (stimulus) on the 2020 federal tax return, Form 1040 Line 30.
No, if you are eligible for the stimulus, you will get it.
There was an error by the IRS as you noted, but the IRS has corrected the error and started today (January 8th) making the correct deposits. This is expected to continue through January 15th.
Note that it is possible that the IRS has not scheduled your stimulus to be made yet. I encourage you to read the following:
How do I find out if the IRS is sending me a payment?
People can check the status of both their first and second payments by using the Get My Payment tool, available in English and Spanish only on IRS.gov. The tool is being updated with new information, and the IRS anticipates the tool will be available again in a few days for taxpayers.
Use the Get My Payment tool to check to see if the IRS is intending to send you a second stimulus payment. If the tool shows that the payment has already sent to your bank but you haven't received it, then it is likely that your situation is due to an IRS error that you have heard about and those corrected payments have started being made today, January 8th.
Please see the Turbo blog post "Why haven't I received my second stimulus check" for more information.
That’s all well and great but I only got half 1200 today I should be getting 2400 with me my wife and 2 children.
You will probably have to file your tax return for 2020 to receive the additional stimulus money.
When you prepare your tax return for 2020 in TurboTax, you will be prompted to enter how much you received for your stimulus and then the program will calculate the amount of stimulus due you based on your income, number of dependents and payments already received. If any additional stimulus is due you, it will be used to reduce your 2020 income tax liability, and the balance will be refunded to you.
You will see the options when you are done entering your tax information and proceed to the review process.
You can file a tax return in 2020 to get your stimulus check, even if you aren't required to otherwise.
This is not true. The IRS just said they do not have the time to reissue many of the deposits so those of us that still have unavailable will have to wait until tax time! That is on the IRS website so why lie about it? This BS happened with the last stimulus as well. For whatever reason my taxes went right on my card yet it was kicked back and had to some in a check. It took an extra month in a half to get it. Now, millions of us will not even get it period until we file our taxes. Which my employer still hasn't even given us W2's yet. Then we get to wait for the IRS to decide it is okay to give us our tax money in March. So, if you are going to tell a story at least tell all of it. I am mad as all get out. This is not acceptable and I know from the first time it is in fact not just an IRS error! I will not be using Turbo tax this year. I am just going to file right on the irs website. I was charged way more then I should have been last year and my IL taxes wasn't even sent in and still has not been when I check this morning. So, that is pretty bogus as well. I moved to IN in July of last year so I had to file in both states. SMH. Now, you want to charge me more money to send in the IL that should have been filed in last year!
I have a question......we've been given the same generic answers to EVERY QUESTION literally. So I'm sure I will get the same answer but I'm gonna ask anyway. I received a critical email giving me instructions to update my DD u to and was PROMISED is receive my stimulus 25 to 48 hrs. When I click on the link, it says deadline passed in Jan 16th. The "specialist" they call them just sent the email last night after a phone conversation. On Jan 18th. Irs has no trace of it. Greendot called to resolve by saying call the IRS. Who then said call turbotax lol it's a never ending loop if BS. So, am I just crap out if luck completely or can I get a link that actually works before I am forced to live in the streéts?
Good luck. You got more information then I did. You will have to add it to your taxes. That is what I was told by the IRS. That they are not sending anymore out after the end of January so if I don't have it by then to claim it on my taxes.
TurboTax is working diligently with the IRS to ensure that those who were affected by the IRS' processing error receive their stimulus payment quickly. However, in a worst-case scenario where the IRS is unable to process the stimulus by direct deposit or send it to you by mail, you will be able to claim the stimulus as extra refund on your 2020 tax return.
For additional information, please see the link below:
Any missed stimulus will be reconciled on the 2020 tax return with any additional owed on the 1040 line 30 that will be added to your tax refund. TurboTax will ask how much you previously received.
Well I still haven't gotten mine, and I literally don't know what to do or whom to contact. My direct deposit info is up to date.
TurboTax knows how important the stimulus payments are to you and they continue to work on your behalf with the IRS to correct the error made by the IRS. According to the IRS, stimulus payments are expected to be deposited into bank accounts by the end of January. We will continue to reach out with new information.
We will also be updating our FAQ here.
How did you update your info? I spoke with irs, turbo and greendot and nobody can tell me where it's at. Irs doesn't have it. Greendot doesn't. The only logical answer is turbo has it and wi t allow me to update info or register a new card to the turbo account it went to. This is BS and we NEED OUR MONEY NOW!
You keep saying that turbo but if you won't allow me to give you my direct deposit info, it will go to the same closed account that I JUST found out YOU closed November 28th. 30 days prior to my stimulus direct deposit in dec. 29th. Sounds fishy to me and you can count on a lawsuit for sure! I'll NEVER DI BIZ WITH TURBO AGAIN!
I keep seeing turbo say the IRS made a mistake and correcting. Here's my issue with that. I've spoken with the IRS and my direct deposit was sent December 29th. it was never sent back to the IRS and no one knows where my money is. The IRS doesn't have it. TurboTax says they don't have it. And Green Dot doesn't have it. Without the IRS receiving the original direct deposit back from the bank there's nothing they can do.. so tell me TurboTax, where is my money because the only logical answer is that you have it. Allow us to update our direct deposit information and put it in the right flipping account. my guess is you're making money off of holding our money that's sitting in a bank somewhere collecting interest shady shady shady shady
I would suggest you to claim the Recovery Rebate credit on your 2020 tax return.
In the TurboTax Online program,
If you did not receive any amount, enter zeros. The program will calculate your Recovery Refund Credit amount as the stimulus payment you are entitled to.
Seems we are getting the shaft. I even got the email from turbotax saying my stimulus is on the way...guess what never came? So what happens with the next round of stimulus too? We gotta file that one on our 2021 taxes when you all mess that up too? Guess whos never doing buisness with you again...me, and the 20 family members who also used you all from personal recommendation. Completely unprofessional to send emails without actually having the correct info. Unfreaking believeable.
There was a link https://ttlc.intuit.com/community/internal-revenue-service/help/update-your-stimulus-payment-direct-deposit-information/01/1794099?fbclid=IwAR1plKGo7STYvOR-TY1yNLU8xyDdkdoCHEOp9DAKFte1QWzZFM2B_35TgDo#M7309 .......It said 5 business days, but still nothing. The IRS blames Turbo Tax and Turbo Tax blames the IRS. NO ONE has a straight or exact answer, just file it on your taxes is the thing I keep hearing
Turbo Tax does not issue refunds; it transfers information to Federal and State taxing authorities, who in turn issue or collect money from taxpayers (TurboTax customers). If you did not receive the stimulus payment due to you, the issue is from the Federal (IRS) side.
How can I check on my second stimulus 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.
You can also check on your stimulus payment through the TurboTax stimulus payment check tool.
You can also view your account on the IRS website. From there, you can contact the IRS directly.