Question

Update or Verify Checking Account on no tax refund return?

Forum|Forum|5 years ago
April 16, 2021
1 reply
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I'm trying to file my tax return for 2020 with zero income. Normally i wouldn't file at all, but given the way stimulus payments have been handled, I wanted ro ensure my banking account info stays up to date on a new return.

Since I have zero income, I also have a $0 tax refund. I'm not seeing any place to update my bank account information, and on the pdf version of the form has only XXXX's in the boxes. Is there another place to out info in between the review and submit screens? I am ONLY FILING TO ENSURE BANK ACCOUNT INFO is on file with IRS.

Where can i ensure that i can update my chexking account info?

TIA for responses.

TurboTax Free Edition Online

AmyC

Employee

Please see Topic E: Requesting My Payment. You should not need to file a return for zero.

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A

AnimedaysAuthor

I understand that I should not need to file, but just in case they do any more stimulus payments, i want my information up to date for 2020. I do not get any sort of federal benefits that they automatically pull data from like social security, and don't want to be one of those poor souls who has to wait months for them to mail me a check. Odds are they will still use 2019 returns, but thats even more uncertain than another stimulus payment.

However, since I did not work last year at all due to health constraints and then Covid hit making what i was doing (gig work) impossible with my health, and employers don't put up with constant chronic illness call outs so remote work would have been mearly impossibleto maintain. Therein is the issue, because I have no income, i have no refund, thus I cannot put in any account information, or at least it has not asked me for any.

If this functionality doesn't exist within the tool that's fine, but I'm not currently seeing any place to add account information. I might literally have to old school it and have a paper return, i don't know.

I just want to file my return with current checking account information on it, and not override what is already in the system at the IRS.

KathrynG3

When the 2020 tax return is filed with current checking account information, it will override what is already in the system at the IRS.

When filing your 2020 tax return, by reporting that you have not yet received the stimulus payments, a Recovery Rebate Credit will be added to your return.

To do this in TurboTax, follow these steps:
- Go to the search box and enter stimulus. Click the Jump to link.
- Answer Yes.
- At the next screen, Let's double-check the amount you received, answer No to edit the first-round and second-round amounts.
- If no stimulus amount was received, enter 0. An amount must be entered in each box. When finished, click Continue.

This amount will create a refund and therefore require bank account information. The bank account information is entered in the File section of the tax return at the very end, after the Federal and any State returns have been reviewed.

Keep in mind, if there is not up to date information, any eligible third stimulus payment may be delayed. Any difference between what was received and the eligible amount will be reported on the 2021 tax return, filed in the spring of 2022.

For more information, see: Recovery Rebate Credit — Topic E: Receiving the Credit | Internal Revenue Service.

Where do I enter my bank's routing or account number?