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Economic Relief question- What if you didn´t get a refund?

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Economic Relief question- What if you didn´t get a refund?
Old 04-06-2020, 11:05 AM
  #1

So, we do not get tax refunds. We always have to pay something. Therefore, my direct deposit information is not on my tax return.

I heard Turbo Tax opened a thing for people who don´t file taxes at all to put in their info...and the IRS said they are GOING TO work on making a portal to input your direct deposit information, but I can´t find that anywhere so I guess it´s not up and running yet.

It seems like they forgot that everyone does not get a refund, so even if you file taxes your deposit info may not be on there....

I´m not wanting to wait on a mail check because I need to give a portion of it to my 19 yo since he´s barely working and not getting a stimulus check (even though he has filed taxes and worked full time.....)


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Old 04-06-2020, 12:10 PM
  #2

I was wondering the same thing, as we have had to pay taxes for the last several years. I guess they still have our bank information from the checks we've mailed in.....
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Old 04-06-2020, 12:49 PM
  #3

If you paid electronically I would think they’d have your account number and routing number on file just like those who get a return?
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Old 04-06-2020, 02:11 PM
  #4

I believe I paid with my card....so that is not a direct deposit authorization like they are saying they need. Uggggg.
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Old 04-06-2020, 02:42 PM
  #5

I assumed they would be mailing checks. I have never received a refund either. I have paid with a check, but I'm not sure they can use that. My address is also different as I moved, but theoretically that mail is being forwarded...

I am holding my breath hoping I get anything at all. I withdrew a big sum of money from investments to pay for my house down payment in 2019. That money counted as "income" and put me over the limit to receive anything based on 2019 returns, even though my real income is WELL under 75K. I have not filed my 2019 return yet as the story was if they didn't have that, they would base it on 2018. I am hoping I can get the stimulus and then file later as we now have until July. I asked my tax person about this and he said it made sense, but I will wait and see...literally ANY other year and I would have been fine. I lost my after school tutoring job due to the closure and that money would come close to making up the income lost from these 2 months.


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Old 04-06-2020, 02:55 PM
  #6

I found a schedule online from a financial paper with the expected dispersal dates of this amount. I'm not sure if it was accurate. I may try to find it again.

Ok, here is the most detailed one I found, but the general gist matches what I've read on other sites. https://www.kiplinger.com/article/ta...heck-2020.html

It's frustrating for those of us with kids 17 and older- and very frustrating for those kids who are in that age range and had to file their own taxes but won't qualify for a stimulus check. The "work around" I read about was to not claim those kids as dependents on 2019 taxes, but that only works for those who didn't file already this year. I have 3 kids, but two of them are over 17. I'm not sure why 17 is the magic age, when 18 is the "adult" age.
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Old 04-06-2020, 03:56 PM
  #7

I know I am so kicking myself. I had already filed taxes and claimed him since he´s a full time college student (like it said on turbo tax) BUT he works pretty much full time and goes to school, so he DESERVES that check on his own! So now he´s not getting one when he desperately needs it, AND Iḿ not even getting the 500 for him since he´s 19. It sucks.
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Old 04-06-2020, 04:17 PM
  #8

Quote:
I'm not sure why 17 is the magic age, when 18 is the "adult" age.
But is it? I couldn’t see my kids medical records without their permission when they turned 14, you can vote at 18, but can’t drink until 21, but have to be 25 to rent a car, and have to count your parents income for college until you are 24, but can stay on their health insurance until 26......I wish they would just pick one age for everything!
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Old 04-06-2020, 06:17 PM
  #9

Quote:
It's frustrating for those of us with kids 17 and older- and very frustrating for those kids who are in that age range and had to file their own taxes but won't qualify for a stimulus check. The "work around" I read about was to not claim those kids as dependents on 2019 taxes, but that only works for those who didn't file already this year. I have 3 kids, but two of them are over 17. I'm not sure why 17 is the magic age, when 18 is the "adult" age.
I haven't filed yet. So if I file now and don't claim my 18 year old, she will get one? It makes no sense that a family can't claim a high school student. They are more expensive now than ever!
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Old 04-06-2020, 06:23 PM
  #10

My sister works at an accounting firm and I asked her about your question. She said that just like they’re going to add a way for people who don’t file at all to submit their information electronically for direct deposit, they will also do that for people who did not get a refund. It hasn’t happened yet, and she’s not sure when it will happen.

There is some sort of oversight agency that is giving them a shortened form of the information with direct links to the correct page on the government website as they are made available. She said that as soon as they send out the information and link for that, she will send it to me so that I can post it.

She also said that she doesn’t really believe anyone will be getting a check in the next two weeks. She said that she expects it to move more slowly than that from what they are seeing. I hope she’s wrong about that part.


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Old 04-06-2020, 07:09 PM
  #11

Ima Spedtchr, that's a good point. Different ages for everything! I feel like students in high school and college should either get their own check (if they are working and filing taxes) or the money should come to the parents if they are not. I haven't thought a lot about this, this would just make sense for me and my family I have a high schooler who just turned 18 and a 19 yo who has a job and pays taxes, and neither will get that help.
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Thank you!
Old 04-07-2020, 01:09 PM
  #12

SDT thank you! I know that is a major flaw with it leaving out all of the older high school and college students. Especially since a lot of college students are in the service industry and probably lost their jobs or are barely having hours.
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