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Old 04-14-2020, 07:16 PM   #161
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Originally Posted by audreyh1 View Post
Right. I make sure I owe a little so Iím not waiting forever for a refund if someone does manage to fraudulently file on our SS numbers. Iíll still have to deal with the mess, but at least I wonít be waiting on a refund. I donít like loaning out extra tax money anyway.
Yes, that's a good strategy - perhaps that explains why I owe so much!
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Old 04-14-2020, 08:37 PM   #162
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Originally Posted by DFW_M5 View Post
Some chatter going on about stimulus checks reducing next years tax refund, any truth to that
No truth to it. The stimulus payments are structured as a special refundable tax credit for the 2020 tax year.

Because of this, if someone fails to receive a payment (2018 or 2019 income to high, for example) but his or her 2020 income qualifies, then the tax credit will kick in when they file 2020 taxes, and they'll get the money then.

On the other hand, if someone got a payment in 2020 based on 2018 or 2019 income but the 2020 income turns out to be over the limit, the law says that the payment does not have to be paid back at tax time.

More here: https://money.com/stimulus-check-advance-tax-refund/
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Old 04-14-2020, 10:32 PM   #163
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I owed in 2018 and paid electronically that came out of my checking account. In 2019 I had a refund of one dollar and applied it to next year's taxes. Am I hearing right that the government won't auto deposit back to that same checking account? And if not, will I get a paper check mailed instead?
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Old 04-14-2020, 11:10 PM   #164
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The last two years I have owed a bit as a way of discouraging bad guys from faking my return. But that means I will have to wait for the check later this year. There is talk of the IRS making an online site where people like me can give them my bank routing information. We'll see what happens.
Owing money does nothing to stop bad guys, they simply claim extra children and an extra tax payment of $25,000 and get a big fat refund.
The IRS is more concerned about getting the $$$ out fast, rather than carefully matching your income, taxes paid, and deductions.
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Old 04-14-2020, 11:13 PM   #165
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Originally Posted by skipro33 View Post
I owed in 2018 and paid electronically that came out of my checking account. In 2019 I had a refund of one dollar and applied it to next year's taxes. Am I hearing right that the government won't auto deposit back to that same checking account? And if not, will I get a paper check mailed instead?
Yes, you will get a paper check unless you go to the website that was mentioned earlier in this thread once it opens and provide your bank account information there.
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Old 04-15-2020, 03:48 AM   #166
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Stimulus check in bank account this early am.
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Old 04-15-2020, 05:07 AM   #167
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I paid my 2018 and 2019 taxes with a debit from my bank account. The same account that I've been using to pay my quarterly estimated taxes but the IRS website says they don't have my banking information to issue my check, Hmmm...
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Old 04-15-2020, 05:29 AM   #168
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Stimulus check in account this morning.
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Old 04-15-2020, 05:34 AM   #169
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Our $2400 stimulus payment arrived in the same bank account that we received our tax refund this morning. Kind of ironic that it arrived on April 15th. We had already filed our 2019 return via TurboTax a few weeks prior to this stimulus package being proposed and we were owed a refund so the IRS already had our direct deposit information.

Now there will be a discussion with the wife regarding what to do with this money. Probably going to be sent to savings but at least some of it will go to the food bank and local businesses. I like the idea of doing take out orders from local restaurants but we already have lots of food in the house. I have to admit this arrived sooner than I expected when I first heard about the stimulus package.
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Old 04-15-2020, 05:35 AM   #170
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Originally Posted by Corporateburnout View Post
I paid my 2018 and 2019 taxes with a debit from my bank account. The same account that I've been using to pay my quarterly estimated taxes but the IRS website says they don't have my banking information to issue my check, Hmmm...
I suppose they still need your permission to make a deposit rather than a withdrawal.
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Old 04-15-2020, 05:37 AM   #171
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Originally Posted by Sunset View Post
Owing money does nothing to stop bad guys, they simply claim extra children and an extra tax payment of $25,000 and get a big fat refund.
The IRS is more concerned about getting the $$$ out fast, rather than carefully matching your income, taxes paid, and deductions.
The IRS had been required to get refund $$$ out very fast. They have put considerably more checks in the system compared to years ago.
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Old 04-15-2020, 05:44 AM   #172
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Got ours over night.
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Old 04-15-2020, 05:54 AM   #173
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Just got mine today even though still did not get my refund yet.
I guess coz my DGF owed monies, she won't receive hers for awhile despite having a direct payment set up.
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Old 04-15-2020, 05:54 AM   #174
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I had not expected that my DM would be entitled to a stimulus payment as she passed away on 2-8, but my accountant has told me her estate will be entitled to a check. I'm not sure when or how the payment will arrive, probably a check much later.
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Old 04-15-2020, 05:57 AM   #175
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The Get my payment link is now available for those of us who never get refunds and have no bank info on file.
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Old 04-15-2020, 06:00 AM   #176
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We received our direct deposit last night. This would have been based on our 2018 tax return as we have not filed for 2019 yet.
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IRS Stimulus status/update site is Live
Old 04-15-2020, 06:02 AM   #177
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IRS Stimulus status/update site is Live

We had to update our info to add an account.

Our circumstances were that we applied our 2018 refund to the first quarter 2019 taxes, and our 2019 return had a balance due which the irs took from the checking. DH gets SS and that deposits to checking. Still had to update deposit info

https://www.irs.gov/coronavirus/econ...mpact-payments
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Old 04-15-2020, 06:10 AM   #178
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irs website says my information does not match their records. anyone else have this result? what should I do about it?
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Old 04-15-2020, 06:12 AM   #179
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Ours comes up: Payment Status Not Available

We filed a 2018 return and paid our taxes via direct bank transfer (On Line in Turbo Tax), and are eligible based on income levels.

Go Figure, may not be all up to date yet.
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Old 04-15-2020, 06:14 AM   #180
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