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efile/bank acct info/stimulus

garman22
Level 12
Level 12

Does bank account information get sent with efile if taxpayer applies refund on a yearly basis? This question has to do with stimulus or I technically would not care. Thanks!!

@IntuitAustin 

@AshleyatIntuit  

 

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19 Replies 19
IntuitAustin
Community Manager
Community Manager

@garman22 wrote:

Does bank account information get sent with efile if taxpayer applies refund on a yearly basis? This question has to do with stimulus or I technically would not care. Thanks!!

@IntuitAustin 

@AshleyatIntuit  

 


I want to say yes, but I'm verifying real quick. Please hold ðŸ˜€


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garman22
Level 12
Level 12

@IntuitAustin wrote:

@garman22 wrote:

Does bank account information get sent with efile if taxpayer applies refund on a yearly basis? This question has to do with stimulus or I technically would not care. Thanks!!

@IntuitAustin 

@AshleyatIntuit  

 


I want to say yes, but I'm verifying real quick. Please hold ðŸ˜€


Thank you sir!!!

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lrhenry04
Level 3

I have the same question but for returns with a balance due.

Bank information is correct for the state refunds to be deposited. The paper copy would just XXXXX the routing and account number but would the information transmit with the electronic return?

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garman22
Level 12
Level 12

@lrhenry04 wrote:

I have the same question but for returns with a balance due.

Bank information is correct for the state refunds to be deposited. The paper copy would just XXXXX the routing and account number but would the information transmit with the electronic return?


Good question @lrhenry04 . I assumed no but.....lets get official word. 

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Anthony S
Employee
Employee

Hello,

Yes, banking information is sent with the tax return provided it was added when the tax return was transmitted and processed (accepted) by the IRS, either to file for a refund or to pay a balance due.  The IRS will use the same bank account to deposit the Stimulus payment. 

Tax returns that were paper-filed and indicated to use a bank account to receive a refund or pay a balance due can expect the IRS will use disburse the Stimulus payments in the same manner.

If the IRS does not have banking information to deposit the Stimulus payment they will mail a check to the taxpayer.  To receive the check, the taxpayer will need to register in a web based portal the Treasury will provide in the near future.

For more details, I recommend visiting the IRS' link below.

I hope this helps.

Tony

https://www.irs.gov/newsroom/economic-impact-payments-what-you-need-to-know

 

IRonMaN
Level 15

@Anthony S 

Actually that doesn't help.  The question centers around the other million questions that have posted as of late - if the client data file includes banking information, does the IRS capture that info even if the taxpayer isn't direct depositing a refund or paying a balance due electronically?

I'm keeping this job. But I am selling surplus anvils on the side. If you are interested please call 867-5309
garman22
Level 12
Level 12

@Anthony S wrote:

Hello,

Yes, banking information is sent with the tax return provided it was added when the tax return was transmitted and processed (accepted) by the IRS, either to file for a refund or to pay a balance due.  The IRS will use the same bank account to deposit the Stimulus payment. 

Tax returns that were paper-filed and indicated to use a bank account to receive a refund or pay a balance due can expect the IRS will use disburse the Stimulus payments in the same manner.

If the IRS does not have banking information to deposit the Stimulus payment they will mail a check to the taxpayer.  To receive the check, the taxpayer will need to register in a web based portal the Treasury will provide in the near future.

For more details, I recommend visiting the IRS' link below.

I hope this helps.

Tony

https://www.irs.gov/newsroom/economic-impact-payments-what-you-need-to-know

 


@Anthony S  @IntuitAustin @AshleyatIntuit  

That is not my question. 

If I apply refund or I do not pay my balance via bank....does the account info still flow through to IRS???

Anthony S
Employee
Employee

Sorry for the confusion. The answer is, no.

The IRS receives banking information only when it is sent with the tax return, electornically or if paper-filed.

For Agencies to receive banking information 1) it must be present in the Federal (or State's) Information Worksheet AND 2) it must be indicated, by checking the appropriate box, to direct deposit a refund or to direct debit the amount for a balance due. ProSeries will not send banking information unless these two conditions are met.

dir-dep-dir-debit.png

Based on the link I provided earlier, it looks the IRS will use 2018 filing information if the 2019 return has not been filed yet, assuming there was banking information in the prior year filing. If there is no banking information for the IRS to deposit the Stimulus payment into they will mail a check to the taxpayer.

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garman22
Level 12
Level 12

@Anthony S wrote:

Sorry for the confusion. The answer is, no.

The IRS receives banking information only when it is sent with the tax return, electornically or if paper-filed.

For Agencies to receive banking information 1) it must be present in the Federal (or State's) Information Worksheet AND 2) it must be indicated, by checking the appropriate box, to direct deposit a refund or to direct debit the amount for a balance due. ProSeries will not send banking information unless these two conditions are met.

dir-dep-dir-debit.png

Based on the link I provided earlier, it looks the IRS will use 2018 filing information if the 2019 return has not been filed yet, assuming there was banking information in the prior year filing. If there is no banking information for the IRS to deposit the Stimulus payment into they will mail a check to the taxpayer.


Not what I wanted to hear......but I do have my answer. I appreciate this @Anthony S  . I now have my answer to my clients question.

 

Thanks a million!

Just-Lisa-Now-
Level 15
Level 15

Well this answers my question if the direct debit bank acct info would be used if they scheduled a payment...so thats a plus...I wasnt sure it would be picked up since it doesnt appear on a paper filed return.


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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CLR
Level 2

I was hoping that if you checked the box yes to apply the refund and no to debit the amount owe and the client did ended up owing ( and mailed the check )that the bank info was also sent

Is this false hope?

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IRonMaN
Level 15

Unless you have unicorns grazing in your backyard and pink pigs flying around your neighborhood, yeah it's false hope.

I'm keeping this job. But I am selling surplus anvils on the side. If you are interested please call 867-5309
TaxGuyBill
Level 14

From what I've read, the answer is "NO".

Drake sent out an email a week about about it.  They said if there is no direct deposit or electronic withdrawal, the bank information is NOT transmitted with the e-file.

 

I think it is humorous how Intuit avoids such questions, but they were REALLY quick to try to funnel people into the TurboTax method of reporting their bank information.

garman22
Level 12
Level 12

lmao, Bill!! I thought same thing and I was chatting with Rick about it.

IRonMaN
Level 15

I've been saying it isn't transmitted ever since these questions first popped up and as long as we caught the eye of Intuit, I thought it was time for an official answer.  Unfortunately, we must have caught their eye with a sharp stick and they now appear to have gone blind.  ðŸ™ˆ

I'm keeping this job. But I am selling surplus anvils on the side. If you are interested please call 867-5309
garman22
Level 12
Level 12

I sent an email to Ashley in hopes of getting an answer. She is honestly the one I trust the most. 

 

I know Austin tries but Intuit gave him a big FU by giving him no one to back him up here. 

IRonMaN
Level 15

I think a number of us have been given a big FU by Intuit.

I'm keeping this job. But I am selling surplus anvils on the side. If you are interested please call 867-5309
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JWHGC3
Level 1

I efiled a client that owed both federal and state. Added bank info on the worksheet for direct deposit and electing not to electronically withdraw before efiling.

Bank info DID NOT populate on the federal but DID populate on the state. not helpful. client wants to know if the IRS has their bank info for stimulus and wants to know why fed and state filed differently. 

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Just-Lisa-Now-
Level 15
Level 15

@JWHGC3 wrote:

I efiled a client that owed both federal and state. Added bank info on the worksheet for direct deposit and electing not to electronically withdraw before efiling.

Bank info DID NOT populate on the federal but DID populate on the state. not helpful. client wants to know if the IRS has their bank info for stimulus and wants to know why fed and state filed differently. 


Unless there was a reason to send the banking info to IRS (direct deposit or direct debit), it doesnt get sent.  The MeF system wasnt designed to send unnecessary info and they didnt reprogram just for this situation.

The IRS is working on a portal for giving them your banking info, just for this type of situation...should go live next week sometime.


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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