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March 11, 2021
Question

If I had Turbo Tax take my filing fees out of my 2020 federal tax return does the IRS have my proper bank account to direct deposit my stimulus?

  • March 11, 2021
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1 reply

March 11, 2021

In your case, the IRS has a temporary bank account established when you filed your 2019 tax return.

 

The IRS will also be notified If or when you file a 2020 Federal 1040 tax return with a refund balance and correct direct deposit information.

 

In the IRS FAQ below, the IRS explains where they have obtained your banking information.  We do not know how it is determined what banking information they will use to issue a stimulus payment.

 

IRS FAQ Where did the IRS get my bank information? states:

 

Your payment information cannot be changed.

 

The bank account information in Get My Payment came from one of the following sources: 

  • Your 2019 tax return,
  • Information you entered on your non-filer registration in 2020,
  • Information you entered on Get My Payment before December 22, 2020, or
  • A federal agency that provides you benefits: This may include the Social Security Administration, Veteran Affairs, or the Railroad Retirement Board. 

In some cases, your payment may have been sent to the temporary bank account established when you filed your 2019 tax return. The IRS and tax industry partners took steps to redirect stimulus payments to the correct account for those affected.

 

If you are eligible – and either didn’t receive Economic Impact Payments or qualify for more than received – you may claim the Recovery Rebate Credit and must file a 2020 tax return even if you are not normally required to file. 

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