Stimulus direct deposit, checks and EIP cards.

[target2019]

IRS will have another portal where you can check Stimulus Payment status. Mid-April is mentioned as the launch. You can see a grayish button on the page.

Direct deposit: Use the Get My Payment application (coming mid-April) to let us know your bank account information if we don't have your direct deposit information and we haven't sent your payment.

https://www.irs.gov/coronavirus/economic-impact-payments

 

[MissMolly]

Ours hit our bank account overnight along with our SS deposits one day early.

 

[rick55]

My account shows the “pending” stimulus payment as of last night. Should clear on the 15th.

 

[KB]

My stimulus payment shows up as pending today also.

 

[statsman]

Still nothing here, but our bank is notorious for not showing direct deposits that are pending until the day they are funded. We filed for the 2019 tax year, and we received our federal tax refund direct deposited back in late February. If it doesn't show up tomorrow, there is the possibility they went ahead and used the 2018 tax year filing which doesn't qualify.

 

[prototype]

Mine has not appeared yet. I just hope they go by my 2019 tax return (filed in mid Feb) and not my 2018 return which had a MAGI spike that pushed me well over 75K.

 

[gwraigty]

Seems like everyone is seeing their deposits as at least pending. Mine has not appeared yet. Anyone else waiting?

Yes. I've checked daily since reading the reports of people seeing their deposits on Saturday. Still nothing as of this morning. The IRS just direct debited the account late last week for the federal taxes we owed, so they certainly do have our bank info to use for the stimulus payment.

 

[street]

My wife will check one of these days to see if we got the gift. It just amazes me how giddy we all are about getting the money. LOL
It is a great thing but really feel I shouldn't be getting anything. I will mostly give it away to people that need it more then myself.

 

[Cobra9777]

...The IRS just direct debited the account late last week for the federal taxes we owed, so they certainly do have our bank info to use for the stimulus payment.

It's my understanding that in order to get a direct deposit this week, either your 2019 (if filed) or 2018 tax return has to include a refund for which you provided bank info on the return to facilitate direct deposit of the refund. Electronically paying an amount due does not qualify. If you had a balance due with your return, or if you had a refund but did not provide direct deposit information, then you will receive a paper check at some point in the coming months, apparently based on AGI (lowest first).

As others have posted, you can use the IRS "Get My Payment" tool to provide bank info and speed up the process vs waiting for a paper check. The tool should be up and running in a couple days. That's what I'm planning to do. I had a balance due in 2018 and haven't filed yet for 2019, so I'm not expecting a direct deposit this week.

 

[eytonxav]

Nothing here yet, same for DD who is at a much lower AGI. I really suspect this could be sequenced by something other than AGI, like maybe by state and or alphabetically by income or through a SS# sequence.

 

[PatrickA5]

We got our $1,940 deposit today. Should get the remaining $460 when we file our taxes next year. Time to do some stimulating!

 

[Cobra9777]

Nothing here yet, same for DD who is at a much lower AGI. I really suspect this could be sequenced by something other than AGI, like maybe by state and or alphabetically by income or through a SS# sequence.

It's my understanding that the AGI sequencing applies to printed checks which will be mailed later... something like 5 million per week starting with the lowest AGI. Printed checks start going out in early May and will take several months.

The direct deposits going out this week should hit everyone who meets the criteria I described in post #134 above.

 

[gwraigty]

It's my understanding that in order to get a direct deposit this week, either your 2019 (if filed) or 2018 tax return has to include a refund for which you provided bank info on the return to facilitate direct deposit of the refund. Electronically paying an amount due does not qualify. If you had a balance due with your return, or if you had a refund but did not provide direct deposit information, then you will receive a paper check at some point in the coming months, apparently based on AGI (lowest first).

We usually owe. I provide our checking account information on the return and schedule the date the IRS is allowed to take the money from the account. I efiled our 2019 taxes on February 19th. On April 8th, the IRS took the money from the account via ACH. Our AGI is within the limits to get something.

We're not desperate for the money. I'm just curious as to why a refund would be required vs. having to pay a balance due. Either way, the IRS has our bank account information. I'll check the IRS site when it's functional.

 

[Chuckanut]

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.

 

[cathy63]

We usually owe. I provide our checking account information on the return and schedule the date the IRS is allowed to take the money from the account. I efiled our 2019 taxes on February 19th. On April 8th, the IRS took the money from the account via ACH. Our AGI is within the limits to get something.

We're not desperate for the money. I'm just curious as to why a refund would be required vs. having to pay a balance due. Either way, the IRS has our bank account information. I'll check the IRS site when it's functional.

If you owe, then your checking account information is not on your return. Take a look, you should see X's in the account and routing number boxes that are in the refund section. What you're actually doing when you efile a return where you owe money is submitting two different transactions. One is your return, the other is your payment.

Also, when you give the IRS permission to take a direct debit from your account, that is not the same as giving them permission to put a direct deposit into your account. In order to get a direct deposit of the stimulus check, you have to have given permission for a direct deposit which you can do via a tax return that has a refund, or by receiving SS, or by using the special website that's not yet operational. I suspect there's a banking regulation or federal law that requires this since employers also require explicit permission to setup direct deposits, but I haven't gone searching for it.

 

[USGrant1962]

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.

FWIW, the bad guys don't care if you owe or not. They submit a totally fake return (with your stolen name and SSN) that claims a refund, doesn't matter if you actually owe or not.

Here's an old article: https://www.tomsguide.com/us/avoid-tax-return-identity-theft,news-18648.html

 

[gwraigty]

If you owe, then your checking account information is not on your return. Take a look, you should see X's in the account and routing number boxes that are in the refund section. What you're actually doing when you efile a return where you owe money is submitting two different transactions. One is your return, the other is your payment.

Also, when you give the IRS permission to take a direct debit from your account, that is not the same as giving them permission to put a direct deposit into your account. In order to get a direct deposit of the stimulus check, you have to have given permission for a direct deposit which you can do via a tax return that has a refund, or by receiving SS, or by using the special website that's not yet operational. I suspect there's a banking regulation or federal law that requires this since employers also require explicit permission to setup direct deposits, but I haven't gone searching for it.

You are correct. I don't see X's. Those fields are just blank.

 

[I was misinformed]

Got my stimulus payment today (4/14) by direct deposit.

 

[cathy63]

You are correct. I don't see X's. Those fields are just blank.

Oh interesting. It probably depends on which software you use then. Both of the packages I've used do put X's if you owe, so I thought it was standard.

 

[eytonxav]

Some chatter going on about stimulus checks reducing next years tax refund, any truth to that

 

[Murph]

I haven’t filed 2019 yet. 2018 was my last year of working, so I’m not expecting a full share. Nothing as of yet.

 

[SecondCor521]

Some chatter going on about stimulus checks reducing next years tax refund, any truth to that

No.

 

[statsman]

Some chatter going on about stimulus checks reducing next years tax refund, any truth to that

It's possible, but any further comment I have would easily touch one of the third rails on the forum.

 

[BeanCounter62]

My bank is showing a pending 4/15/20 deposit.

Also filed my 2019 taxes today. Refund due ... should've filed sooner! Mostly glad to check that off my To Do list.

 

[Lawrencewendall]

Got mine today. So did DS2.