I have Turbo Deluxe on windows. I owe no taxes & none were withheld. I want to electronically file my Fed return AND have my bank info show up on my 1040, so the IRS can send the stimulus check to my bank account. Turbo keeps blocking my bank info with XXX. It will not allow me to override & I understand if I do override, they will not allow me to electronically file. How do I accomplish the above ? Thank you.
@Camp6310 Yes, you will receive the stimulus money. The following is from news:
"The only administrative offset that will be enforced applies to those who have past due child support payments that the states have reported to the Treasury Department," he continued.
In other words, Americans who are overdue on child support could see their cash payments reduced or eliminated.
@BibbidyBoo It is not TurboTax, any software does not have you enter direct deposit information when there is no refund. Plus, entering direct deposit now in TurboTax would not get to the IRS, once returns are accepted the IRS does not get any more information from TurboTax.
What if my direct deposit information has changed or I want to add it for the first time?
On March 30, the I.R.S. said on its website that it would build a portal where people can update their information “in the coming weeks.”
@KingsgateEnterprises - The IRS is going to setup a portal for taxpayers to enter their direct deposit information.
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.
https://www.irs.gov/newsroom/economic-impact-payments-what-you-need-to-know
If you are not due a refund, the program will not accept any banking information.
I ran into the same problem. This is a terrible "feature"! Not very considerate to customer need. Please let us to have a way to show the bank account to IRS even if we do not have any refund!!!!!
@kzliao wrote:
I ran into the same problem. This is a terrible "feature"! Not very considerate to customer need. Please let us to have a way to show the bank account to IRS even if we do not have any refund!!!!!
See this IRS website for information - https://www.irs.gov/newsroom/economic-impact-payments-what-you-need-to-know
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.
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.
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.
This is NOT a terrible feature ... normally you would have no reason to enter the bank info if it will not be used.
BUT because of this stimulus check it seems to be an issue for a few ... work around is to mail in the return so you can manually enter the DD info on the 1040 form... (not a good option since paper returns can take 6-8 weeks to process because they require entry by a human ... and the IRS is in short supply of those right now)
Or you can efile the return like normal and just get the check mailed to the home.
It may be possible that the TT program "MAY" be changed to allow it but don't count on it. AND the IRS mentioned it was "WORKING ON" an online option for taxpayers to update/add their DD info for the stimulus checks HOWEVER neither option is guaranteed to be out soon or to work correctly.
So take your pick ... efile, mail , wait.
What if I filed and gave bank info but... my refund went towards back taxes. Will my bank info still be on file with turbo tax??
@Camp6310 Yes, your bank information would still be on file with the IRS, even if it was taken.
Would I receive stimulus via bank info on file even if I owe back taxes?
@Camp6310 Yes, you will receive the stimulus money. The following is from news:
"The only administrative offset that will be enforced applies to those who have past due child support payments that the states have reported to the Treasury Department," he continued.
In other words, Americans who are overdue on child support could see their cash payments reduced or eliminated.
By this point Turbotax engineers surely have been notified and are frantically trying to find the checkbox that puts direct deposit info on ALL tax returns.
@BibbidyBoo It is not TurboTax, any software does not have you enter direct deposit information when there is no refund. Plus, entering direct deposit now in TurboTax would not get to the IRS, once returns are accepted the IRS does not get any more information from TurboTax.
What if my direct deposit information has changed or I want to add it for the first time?
On March 30, the I.R.S. said on its website that it would build a portal where people can update their information “in the coming weeks.”
There are a lot of people who haven't submitted their returns yet, "Champ".
@BibbidyBoo No, I don't think so.
If you get a check you can
@BibbidyBoo Whether someone has filed there return yet or not. IF you do not have a refund, you won't be able to enter direct deposit information. Whether the program changes for the stimulus money, no one knows yet. Yes I am a CHAMP!!
All the tax software companies will do what they can in conjunction with the IRS but nothing can be done overnight so patience will be needed as everyone does the best job they can ... even my professional program has posted they are working with the IRS on this very unusual situation.
Some persons are never satisfied.
It's not enough to be getting free money.
It has to be delivered in a certain way.
It's very crass.
The sw should allow the user to make decision instead of trying to out-smart the users.
In this case, you can have your smart logic for most situations, but allows user overrite.
My 2 cents.
Sorry ... but this is an IRS limitation not the program ... not even my professional program will allow DD info on a return with no refund ... in the normal world this is not an issue. WAIT for the IRS to make this correction if they can if not you will just have to deal with a paper check mailed to the home ... don't be ungrateful for getting FREE MONEY for goodness sakes.
Don't blame on IRS. Come on. I am a programmer for 30 years. How could this be an IRS problem? Listen to your customer. This is an REQUEST and an very easy one!
The IRS only has direct deposit listed for returns with refunds on lines 20-22 of Form 1040. However, the IRS has you covered for your stimulus payments.
"We (the IRS) will create a web-based system for people where we don't have their direct deposit they can upload it, so that they can get the money immediately as opposed to checks in the mail," Mnuchin said Sunday on CBS' "Face the Nation."
They are continuing to build resources. Follow the IRS website for additional information:
Nothing can be changed without approval from the IRS ... if any of the multitude of tax programs was to be allowed to have DD info on a return with no refund it MUST first come from them ... they must put out code/specs just like all the regular changes in the programming, then they must be incorporated, tested and approved and none of this happens overnight and IMHO I doubt this will happen anytime soon.
The IRS is working on their own portal (which may or may not work) to address this situation ...
https://www.irs.gov/newsroom/economic-impact-payments-what-you-need-to-know
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. "
Of course if you want to print the return .... enter the DD info on it and mail it then go ahead. The data input operator may or may not enter the DD info into the IRS system when they get around to entering your return in 4 weeks or so this effort may be futile. (remember they are also short handed)
You don't get it! A Direct Deposit is preferred by most of us for several reasons. We have had a mail theft problem in this area and they have stated that a direct deposit will happen rapidly but a check will take weeks. Not all of us are financially solvent enough at this moment in time to wait weeks.
@KingsgateEnterprises - The IRS is going to setup a portal for taxpayers to enter their direct deposit information.
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.
https://www.irs.gov/newsroom/economic-impact-payments-what-you-need-to-know