Due to the large number of questions regarding direct deposit tax refunds, the economic stimulus payment and TurboTax, I've written another article dedicated to TurboTax questions.
What is TurboTax?
Many people file their taxes with TurboTax. I've always used TaxCut by H&R Block but I'm sure the services are very similar. TurboTax is software that you can use either on your desktop (you bought it at BestBuy or Wal Mart and installed it on your computer) or you completed your taxes on the TurboTax website. TurboTax is owned by Intuit who also makes Quicken and QuickBooks (which I use for my business).
How Does Using TurboTax Affect My Economic Stimulus Payment?
If you've used TurboTax to file your income tax, there is a chance you will be getting a paper check in the mail. You will get a paper check even if you get your federal income tax rebate by direct deposit.
Why Won't I Get My Economic Stimulus Payment by Direct Deposit?
If you used TurboTax's "refund transfer" you will not get a direct deposit. This information comes directly for the TurboTax Support Site Page on the Stimulus Payment:
Under certain circumstances, however, the IRS has decided that taxpayers can only get their rebates by mail, even if they get their refunds by direct deposit. At TurboTax, this will happen if you use a "refund transfer" when filing your 2007 return. This service lets you pay for your tax preparation and/or e-filing from your refund proceeds, for an additional fee, under an agreement with Santa Barbara Bank & Trust .
Your First Mistake
If you paid your TurboTax fees with your tax refund you've made 2 mistakes. First you've paid $29.95 for a "refund processing fee." That was a very dumb idea. You've paid $30 for just for the privilege of paying TurboTax/Intuit to take your money out of your tax rebate.
You're paying $30 to Santa Barbara Bank & Trust to "loan" you the money for your TurboTax payment. Your tax refund then goes to Santa Barbara Bank & Trust and then they send you what's left over.
Your Second Mistake
Because Santa Barbara Bank & Trust is technically getting your tax refund direct deposit from the IRS, you won't get your stimulus payment by direct deposit. That's because the US Treasury doesn't have your bank information because TurboTax didn't send it to them.
Because of the timing of the Economic Stimulus Payment Package most tax preparation companies didn't have a chance to prepare for it. So in TurboTax's defense, they probably just didn't have time to make it work.
Your Check is In the Mail
You'll just have to wait to get your check in the mail like the rest of us. You can check out the updated economic stimulus payment schedule here.
What if I Paid for TurboTax's Fees Another Way?
If you paid your filing fees with a credit card or some other way, you should be fine. That means you should get your economic stimulus payment by direct deposit. That's because TurboTax would have sent your account information directly to the IRS.
This assumes you're getting a refund of course. If you paid in then you'll get your check in the mail
Tags Direct Deposit Economic Stimulus IRS Stimulus Payment Taxes TurboTaxRelated Posts
- IRS Economic Stimulus Payment Article Index
- IRS Stimulus Payment: Direct Deposit Questions
- Where Is My Stimulus Payment?
- TurboTax VP Answering Your Stimulus Payment Questions
- Today is Last Day to Change Stimulus Payment Direct Deposit
Comments
278 Comments so far
What you say doesn't make sense. In my PDF of my 1040A form, section 74 b & d show my banking routing number and account number. So YES the IRS did get my info.
I am confused to..when I checked my 1040a my bank account info was on there not santa barbara. So doesn't the IRS have our info if it was on our tax forms?
Tracy,
It only matters if you got some kind of RAL, RAC or some kind of other refund advance. It you did then you might want to check with H&R Block.
I also just posted on another thread here and on my 1040 it shows MY banking information, NOT SAnta Barbara bank. And I didn't get any type of RAL or RAC. Sorry that our 'DUMBNESS' couldn't avoid having to file opting to have the fee takien out, but my family was homeless at the time after foreclosure from my mounting medical bills (I hate when I get a life threatening disease – such a rain on my parade) but I guess it caused the 'DUMBNESS' that wanted to take care of my kids as quickly as possible w/o having to use a bottom feeding RAL. Guess that didn't make much sense?
Sorry to be glib, but please realize that not everyone really WANTS to give these pond scum sucking idiots their $30, they just don't have a choice sometimes.
Hope we can figure out this mess. I'll be calling the IRS to see what acct they have on file as some that have used TT have said the IRS has told them they will be getting Direct Deposit. But then again, this is the IRS, and they don't always know what's going on either. {SIGH}
well i gues im another "dumba**" that paid extra fees to get my refund back as well, due to the fact that we had some severe flooding in our region and we were out of work, the $$ at the time was much needed, and now im reading all over that us "duma**" people who paid more have to wait longer by getting a paper check rather than direct deposit even though as well as other my routing number and account info is on the copy or my tax return as well, i dont understand how that information is any diffrent from the next person who paid fees upfront, i think this is confusing, and i think that if you used an online service such at Turbotx, hr block etc and had the money in your personal account, we should get dd just like everyone else, now if you used some kind of money card or prepaid card i can understand where that could be a little confusing for the irs and for the business' who offered the cards, they would probley make matters worse by doing direct deposit on the cards because half the people threw them away when their refund was spent, well i hope this makes sense and i guess we can always keep our fingers crossed for some miracle of a direct deposit, if not happy waiting!!!!!
Me and my husband filed together with a qualifying child and it's telling me we're only getting back $900 and my mom filed single with a qualifying child and she gets back $600. We paid taxes because we are self employed. Why aren't we getting back the full refund?
Heidi,
Have you found anything out from the IRS? I have a similar situation only with Taxslayer. JP Morgan Chase took fees out and the rest was DD. Our 1040 has OUR bank info on it, but that doesn't mean that is what Taxslayer sent to the IRS. Taxslayer support told me it was not the same as a RAL or RAC and would still be DD, but I'm starting to think otherwise.
I guess if I don't have a rebate in my acct by tomorrow I'll have my answer.
Keep in mind folks I use the "dumb idea" much like Dave Ramsey. I'm not going to coddle you and tell you what you did was smart.
Paying fees like this aren't going to get you ahead in the long run. If you have an emergency you do what you have to do. But like Mr Ramsey, I believe in an emergency fund.
Life's going to kick you when you're down as you've found out.
I really hate seeing people pay these kinds of fees if they can avoid it. DON'T do it just to get your refund faster so you can buy a new TV at BestBuy. However, as I said before, you've got to do what you've got to do.
I agree that there should be no difference if fees were paid to a third party from your refund or by credit card (in my case, TurboTax). The IRS DOES have the return on file with the bank account/routing number. If the PDF file I printed and the file the IRS received from TurboTax don't match (i.e. bank account information deleted), I would think this would be a serious issue and may even raise legal concerns since the return has been altered. As for the dumba** comments earlier posted, does it make me a dumba** for wanting to get my money earlier to take care of bills/vacation, etc? I guess I am a real dumba** by booking my flight earlier and saving over $100 versus if I had waited a few extra weeks.
What i dont understnd is im too am a dumb@@ for using a RAL but i just want to know is that am i getting my check by my ss# or sooner or later.
Lilith,
Yes, I have. And after speaking with the IRS, they DO NOT have my bank info on file for my DD from my refund that was issued in Feb. Since I paid my fees out of the refund, the bank acct that they have on file is Santa Barbara Bank & Trust which is the bank that Turbo Tax uses to process these payments. Apparently they open a 'dummy' acct and your money gets deposited into there and they take out the fees and then send the remainder to your bank.
And YES, MY 1040 line 74 HAS MY BANK INFO ON IT!! NOT SBB&T!! So obviously it was automatically changed as soon as I hit then transmit/file button.
I am NOT a happy camper and have voiced my opinion on the TurboTax forums. I feel we were duped.
But then again, I am among the dumb arses…..
We've been duped!!! I did the "dumb" direct deposit taken out of my refund because i was short on money at the time, and I find this out… My last 2 number's of my SS are "92″ so i'm not going to get a check for at least a couple months now.. (insert sarcasm) SUPER!!! Thanks turbotax!
Just because it's on your PRINTED form doesn't mean it was on the ELECTRONIC form that was sent to the IRS
Yup, called the IRS to see if I filed my taxes through turbo tax and had the fees taken out of my refund check, will I still receive my rebate through direct deposit. This was the first the representative ever heard about this – so, she just asked for my rounting number to match what they have on file for me. It was not the same. This is turbo tax main rounting number. So, I will be receiving a paper check. This sucks. If we would have only known….
AND THERE IS NOTHING WE CAN DO TO CHANGE, FROM PAPER TO DD I SUPPOSE?
Well, I think this sucks – but I too don't appreciate the comments about people being dumb for using Turbo Tax! I guess my question is why are ALL these people here looking for money early if they are so amongst the uppercrust that know how to spend their money!!
F*** turbo tax
i won't use it again
that's just BS
I talked to the IRS and they told me the same information that the banking information isn't the one I have on my 1040 and there was nothing now that they could do, they said they could have if it was before April 13th.
I think most of us have learned something I know I did. But hey by the time some of us get our check gas will be $4.50 and then the economy will go to pot.
I found out today 05/02/2008 that if you filed turbo tax you WILL RECIEVE A PAPER CHECK. because its a third party that gave you the money . even though you had direct deposit from the irs.its true… I spoke to the irs several times over this past week.
I am among the ones that did DD through turbo tax. In all the places I have looked before today I haven't seen anything that says if you used Turbo Tax that you would get a paper check. I should have gotten it on the 28th and desperately need it for my sons graduation.
what about if you used turbo tax, paid fees via credit card… but owe taxes?
also… at the end of filling, turbo tax told us how much we were going to be getting back $1500… so is that wrong… they even asked for a bank routing number and accout number for DD? i am a little confused? i heard that if you owe they will take it out of the stimulus check also? we owe about $1100? but that include federal and state? please help someone!
I don't expect you to sugar coat your statements but they could have been stated with a lot more decorum. Also, I have a hard time believing what you say in your article when you don't even use the proper tense of Due/Do in your first sentence.
Ive called Santa Barbara Bank and Trust and they said that anyone who had thier fees deducted from thier refund using TurboTax will receive a paper check. However, if by chance the IRS deposits the money into the account set up for your refund through SBBT they will issue it to your bank account with no additional fees. Has anyone used TurboTax this way and gotten a refund direct deposit yet? Please let us know if you do!!!
Ok, TurboTax didn't "dupe" you. It wouldn't even be an issue if it weren't for the stimulus payments. How do you think they take the fees out of your refund? They get your refund in a bank of theirs, get their fees out, and give you the rest. Wasn't this supposed to be common knowledge? Read the fine print next time. You're still getting your rebate in the end.
Chris, unlike you and all the fortunate ones that can 'afford' to have that emergency fund handy, this stimulus/rebate check helps those of us that are unfortunately living paycheck to paycheck.
To use the term that we've made a mistake about having the amount taken from our return was really uncalled for and just plain rude.
About 80-85% of working class Americans struggle with just trying to make ends meet from day to day, week to week, month to month. When we have money, OUR hard earned money coming back to us, yes we want it as quickly as possible and doing whatever means necessary to put food on our tables & clothes on our backs comes first and foremost.
You need a good swift kick in the butt for that remark!
Ok you turbo tax people…. I have spent countless hours on the phone today asking about turbo tax info…. yes we did rec. our tax refund dd. BUT it went to tubo taxes bank so they could take out there fees then turbo taxs bank dd. our money. Bottom line, ANYONE who used turbo tax will REC. A PAPER CHECK per the IRS.your stimulus check will not go to turbo tax again. we are sol…. and a paper check is a true statement.Good luck to everyone and I hope we can make ends meet until then.my last digits are 58 so I wont get mine until June 20th…
No Im 56 and we should get ours mailed on the 13th
WOw arent we cocky……ARI nothing better to do than be a smart ass.are you sitting on your high and mighty horse rich as can be or struggling like the rest of us.. Im not blonde nor dumb so dont speak to me like I am. Everyone is just trying to get the CORRECT information.If you cant tlak with respect like a human should and not degrade anyone maybe you shouldnt be a part of this conversation….
Thanks lori…. Good luck to you.
Cynhia,
I think you are referring to anyone who used TurboTax and had the FEES taken out of the return. NOT the people who paid for the fees upront with a credit or debit card….they should still get DD, correct? Can you clarify if this is the info that you received?
Call the IRS, if you didn't use SSB you prob are getting dd if you did on there paperwork it does state that they set up a dummy account and then close it, even though your 1040 said your bank information~~~ Better yet call IRS I am by no mean a expert.
Yeah, Cynthia's right. Playground rules….If you can't say something nice – SHUT YOUR NON-NEEDY YAP!!
Did I miss anything?
Laura,
LOL, 'SSB'! You mean 'SBB&T'? I have to ask now since you used the initials SSB, do you eBay?
Yes I mean SBB & T~~Come on I am laughing ready these comments.
Ebay is my husbands game not mine unless I want some domestic thing.
Heidi, my understanding is if you had the money deducted from your refund then it will be a paper check. but if you paid for the fees then you should get dd. but please dont hold me to that. call the IRs select option 2 first then select option 3 for stimulus questions. the best time to call is early in the morning or early evening because they are there till 7pm.Ive can only answer those that have had the fees deducted. Paper check is for sure. Good luck
There number is 18008401040
Actually Cynthia, I was referring to the people saying that Turbo Tax is doing something illegal. They aren't.
As far as high and mighty, I'm not a trust fund baby. I work hard for a living the same as everyone else, and yes I struggle paycheck to paycheck with $0 savings.
OK, take a deep breath, because what I’m about to say won’t be very nice. It’s true mind you, but not very nice:
Yes, if you used SBB&T or some other type of RAL, you were a dumbass. I mean, for starters, you paid a $30 “convenience” fee for something that is otherwise free. Sorry if it hurts your feelings or offends you, but that qualifies you as a dumbass. And as for all of the, “But I REALLY needed the money blah blah blah” whining I’m reading, sorry, I don’t buy it. I mean, if you really needed the money, then you’re the LAST person who should have been willing to pay an unnecessary $30 convenience fee. Did you ever think of that? (This reminds me of my dumb friend who pays $35 bounced check fees every week because, ironically, he doesn’t have any money. Dumb, dumb, dumb.)
TurboTax and SBB&T should just call this $30 fee what it is: “The Dumbass Fee”. And they should call RAL’s what they really are. Instead of “Refund Anticipation Loans”, they should call them, “I’ll Bet You’re So Bad At Managing Money, That You’ll Be Happy To Pay A Dumbass Fee To Get Money Back That Would Otherwise Only Take Two Weeks to Get Back If You Had Even The Slightest Amount of Financial Self-Discipline.”
Seriously folks, if you’re SO close to the financial margins that you absolutely HAD to get your money back immediately, I would suggest that you get a second or third job, or do whatever else you need to do to get on more firm financial footing. But I suspect that many who got a RAL didn’t absolutely NEED the money immediately. Instead, the mere thought of having the money immediately made them get greedy, and they did what American do well: they followed the path of least resistance and immediate gratification.
If you couldn’t tell, I’m a firm believer in financial Darwinism.
Yeah, Steve, you complete idiot! We should bow down and kiss your heels because you haven't had the hard times that some of us have experienced. Either that or you have been lucky enough to be able to get out of your 'bad luck.' Unfortunately Cancer is an equal opportunity affliction and doesn't necessarily care what kind of life you HAD before it decides to rear its ugly head! GOD FORBID you should fing yourself battling for your LIFE and trying to put a roof over your family's head after maxing out your insurance and BLOWING THROUGH YOUR ENTIRE SAVINGS (yes, that's right, we HAD savings!! And a DECENT one at that!!) I guess you'd let yourself or a loved one DIE if the price tag was too high for you!
Glad you showed your true colors….at least we can take your comments for what they're worth…NOTHING!!!
Heidi YOU GO GIRL….as for you,STEVE YEAH Dumbass,you obvisouly still live with your parents and take everything they give you instead of being in the real world facing reality. SOMe of us chose to pay that so called dumb fee because it put food on our table and a roof over our kids head.You dont have a clue what kind of life I lead or anyone else,I bust my ass everyday and go to work with a disability to survive ,and that 30 fee gave me over 3000 really fast. So respect you know nothing about…stop degrading people for money well deserved and get off your ass and well…. youll probably fail if you havent already.before you open your mouth next you havent hurt any of our feelings it only confirms what asses there are out there in this world without even knowing them,I dont owe you a explanation steve but we deserve what money is coming to us how we get it is our problem not yours.maybe your just pissed beacause your not getting one….. have a great day
Ari, sorry if I hurt your feeling I didnt mean to.I was just trying to help others get the information they needed.sorry for judging you…as a GROWN adult I apologize when wrong…good luck with your rebate
okay i filed with turbo tax but i was able to file for free so no fees were taken out of my check for anything meaning i received my whole entire income tax check by direct deposit does this mean that i will get a paper check too if so i have a long long wait my ss# ends with 78 damn!!!!
someone let me know if you know the answer
Our last two SS# are 18…we should have gotten our deposit by today. We called, they checked our account and then asked how we filed. We filed using Turbo Tax, we paid the fee with a CC and had our refund DD into our bank. Unfortunately, we were told today that a glitch was found in the Turbo Tax software by the IRS AFTER they developed their computer program for the stimulus payments (or something like that) so most banking information was set up for a one time deposit therefore, we will be getting a paper check in 3 weeks. Maybe this will help someone.
Steve,
I agree with you. It is a dumb**s fee. That is exactly what I was saying when I paid it. Just like when I pumped gas in my car today for $3.65. That's a dumb**s price, but sometimes, people just have to do dumb**s things because they have to. If I didn't pay for the dumb**s gas, my dumb**s would not have gotten to work to make dumb**s money to keep a roof over my head. Hell, I guess my dumb**s should just resort to begging on the street and not pay dumb**s taxes at all. Steve, obviously you don't have the ability to express empathy. Sometimes, when you're faced with a decision like "I have $15 left to my name until my next paycheck. Should I pay this tax filing fee or pay for my kids lunch?" I myself have never been faced with that dilemma. You know why? Because I know better not to let my kids go hungry. I know how to choose what's really important. If I have to pay a DUMB**S fee to ensure my kids eat for the next few days, that's a no brainer! I pay the DUMB**S fee. I'm not going to call you names or put you down. Some people just have to go through something and sympathize because they don't know how to empathize. Right now I feel empathy for you because one day, you will hit rock bottom and you finally realize how rude you were. You're blessed to have been able to pay the fee out of your pocket. Let's just hope you can someday learn to appreciate your blessings and put down the less fortunate and claim them to just being "whiners". Hopefully one day you will understand without having to go through what some of us have had to endure. Good luck to you.
[Post edited to remove profanity]
Ari, you also have my apologies as well if you took my comment personally. It was directed more towards people like STEVE who need to have serious life lessons in humility. Your post was definitely not offensive. It's too bad that grown ups can't play nice. Some people don't have the ability to feel empathy or understand/comprehend human life struggle or pain.
I believe these are also characteristics of some sort of sociopathy…….though I'm not a professional.
I guess the majority of us that came here looking for answers did so because we are in very similar situations for our own reasons that are valid and we shouldn't have to explain ourselves to anyone. So in short, support each other and ignore the rest. They ain't worth it. We have bigger things to worry about like taking care of our families.
Thank you to all that supplied useful information on the turbo tax direct deposit issue. There is no such thing as a dumbass when it comes to supporting your family. People like you Steve have alot to learn. If the coutry was not going through harsh economic times and high fuel costs then there would be no need for this extra refund. However, the government recognizes that all middle class individuals can not afford to pay 4.00 per gallon for gas and absorb the high costs of food, utilities, and extra items that have since increased in price. The reason that many of our savings are depleted is because in this struggling economy the businesses we work for are laying people off and not giving raises to cover the sudden cost of living hike. So before you make comments that insult people you should think about what your saying. Because if the government felt this step was necessary to get our economy back to level ground maybe you should give these people a break. Your the one that looks like the dumbass.
What if you didn't pay a fee, but still used turbotax? I filed my state taxes separately, and didn't owe ANY money to intuit.
will it still be a paper check?
Alan, If you gave Turbo Tax your banking information and you didn't pay a fee then you should receive your money through direct deposit. The only people that will get paper checks are those that had turbo tax take the fee out of their refund by using a secondary bank. If Turbo tax gave you a form at the end of your refund that stated that their bank would need to handle the transaction, then you will receive a paper check. Those that had no fees to pay, paid by credit card, or had the fee directly ACH'd out of their own personal bank account will receive the direct deposit as normal. Only the individuals that had to use a 3rd party bank because turbo tax was unable to get their fee any other way will get the paper check. I hope this helps.
First of all Steven, not everyone that used this way is a dumbass. I have used TurboTax for years and this is the first time they did the 3rd party deposit. I paid it because it was cheaper to pay it and do my taxes online than to take them to H&R block or another accountant. Second, to the writer, if you are going to write a story telling people why they are getting their checks through the mail, then you should tell the whole story.
Well, since you are a dumb ass and don't know the truth, I will tell everyone the real reason behind it all.
The reason that all of these tax preparation businesses set up the 3rd party deposit is because they knew about the stimulus payment before tax season began. Their plan was to give you the RAL for your tax refund and when the stimulus payments come, they would make their real money.
See, they are making nothing off of these Stimulus Payments and they wanted their cut, so they decided to do all of the direct deposits 3rd party and they planned to keep a portion of your Stimulus. A larger portion than the $30 because no one knows exactly what they are getting back and they figured they would pull a fast one on all of us that have used them faithfully for years, or the new customers they have gotten.
The government then found out about this plan and decided that they would not let this happen, this money is to help the ones that have been comfortable who are now struggling rather than make the rich richer. So, this is the reason they are sending the checks to those that have the RAL or 3rd party deposit. The government that so many people hate, was actually watching out for you all and not allowing you to be scammed.
I for one have used TurboTax for years and since they have pulled this little stunt, I will not use them again. Which has cost them 3 customers since I do taxes for myself, my parents and my brother. So, rather than calling the Americans Dumb Asses, why dont you call out the Tax Preparation companies and expose them for what they really are, CROOKS!
Steve, how about just not worrying about everyone and their fees. I find your life goes some much smoother when you just worry about yourself and don't worry about everyone elses issues. MIND YOUR OWN BUSNINESS!! Help YES.. Criticize NO!!!!!!!!!!!!!!!!
Jump of your horse DA….
I have found this to be true as well. I think that this is just a shame that people need their money and can't get it. We were first told that we would get it direct deposited, Now they tell us tthis is bad enough that some people don't know this or even how much they are getting. What they don't realize is this money is our money and we need to have known all the proper info on this stimulus payment.
Hey there, everyone. I'm a young adult who just turned 25. I have 2 children, both boys…4 and 2. My husband works 2 jobs, one full time and one part time and I work full time as well. Child care is so expensive so needless to say I'm not able to take care of all my bills and put my children in child care, so my parents watch our children while we're at work. We barely make ends meet as it is because of the poor economy. So needless to say we live off of pay check to pay check.
We, too, as many people have "Emergency Funds in a Savings account" however, thats what it is, emergency funds. So when an emergency comes around you have to dip into those funds and take care of the emergencies. Duh.
So, after reading every one of those comments and the "Dumbass" comments about using Turbo Tax, grow up…get a life…get a family and LIVE. Unless you've been working and taking everything you worked for since you were 16 and placed that into a savings acct and still live with your parents and did not have to pay a dime for anything…ie Gas, Car insurance, Car Payment, Cell Phone, whatever…etc…then you must be a lucky SOB.
Myself, I had my car payment, Car insurance, had a job while all through high school to pay for this, as well as having to pay back for my student loans now. Because I work and my husband works, we conviently make too much money for the government to have any kind of help for child care, etc. So, yes. Because of medical bills, gas bills, insurance for the vehichle is a must, utilities like most of the american people out there, working their asses off to just put dinner on the table for their families it is hard and at the beginning of the year, if we are in a hardship, no emergency funds left from either medical bills, a wreck that happened and placed someone in the hospital that only part of our insurance took care of, yes…when given the chance to have our refund direct deposited into our acct at the expense of 30$ then yes, I am going to take it.
Is it just me or would you much rather have 30$ out of a few thousand taken out or sacrifice your utilities or your vehichle at that because you are not ablet to make the payment?
Excuse me, but yes, I will sacrifice the 30$ Dumbass fee…not because I am a dumbass, but because at the beginning of the year when its winter time and my family needs heat, food on the table and vehichles to drive back and forth to work to make the little funds available to take care of everything.
So yes, needless to say, I was expecting my funds to be direct deposited, however, because I used SBB&T I will have my check mailed to me. My husbands SSN is 15, so on the 23rd of May, it will be on it's way.
So I will continue to wait. Suck it up and live with it, but not without disappointment. We all have a right to be disappointed. All we all knew is that direct deposit + refund = stimulus rebate direct deposited…and now we all know that that is incorrect.
I'll have to pay late fee's on medical bills for the time being until I can pay them off when my rebate gets here, probably at the beginning of June or so. Who knows.
But again, this is only my two cents, that doesn't mean very much, either. I'm just a hard working mother and a wife who tries very hard to take care of her family the best way I know how to and the best way I can.
It seems the posts have gone a different direction.
You would think after all of the complaints – even on other sites maybe SBBT or someone would step it up and maybe find some solution. I do wonder how this is going to affect TT, we filed our taxes in mid Jan so the Stimulus wasn't even approved, I didn't even know about it. So with some people I think they were given some type of option of how to get there refund pending the Stimulus~I could be wrong. I too have medical bills and a horrific propane bill also so hey they will get paid off in June(57) but that is my soap.
Thanks for the heads up. I've been wondering why my deposit wasnt there. Oh well. Guess it will be christmas in June.
For additional information below is the information right from the Turbo Tax Website that refers to the feature that they have for the user to have the Turbo Tax fees deducted from your Tax Refund when e-filing.
"Will my economic stimulus payment be direct deposited into the same bank account?"
"No. With the recent enactment of the Economic Stimulus Act of 2008, TurboTax does not ask for deposit information for your economic stimulus payment.
Although the IRS encouraged tax filers to elect to have their rebates deposited directly into their bank accounts, some filers will only be able to receive theirs by mail. They include filers who conducted certain financial transactions, such as paying filing fees from the proceeds of their tax refunds, using third parties, such as SBB&T."
From the beginning IRS said that if you chose an RAL you will get a paper check not a Direct Deposit of your stimulus payment. Apparently this is considered a form of RAL.
I still think it would have been nice for us to know that… even if we filed at the beginning to the end of January when we knew NOTHING about this. Oh well, goes to show you never count your chickens before they hatch, right? Way to go Bush.
Regardless of which software you may have used, all REBATES in which your 2007 tax return fees were paid out of the refund (RALs or Refund Transfers) will be paid by check. It doesn't matter which software or tax franchise you used. The IRS made the decision that the rebates for these returns will be by check, not direct deposit.
I am sure all software/franchise vendors would have disclosed this had this information been available at the time these programs/services were offered.
If there is any consolation, it is that the IRS is processing the rebates about a week ahead of their original schedule.
For more information on TurboTax and rebates, please visit http://turbotax.intuit.com/support/kb/tax-content/tax-tips/5961.html.
Bob Meighan
VP, TurboTax
Someone asked several posts back about if you paid taxes rather than receiving a refund through Turbotax. If you paid, then you will get a paper check. From the Turbotax website:
"When I paid the taxes owed on my 2007 return, I had the IRS debit my checking account. Will the IRS also deposit my rebate there?
No. The IRS says filers who used direct debit will get their payments by paper check in the mail."
I paid this year and it sucks that TT asked me at the end of filing my taxes if I wanted my stimulus direct deposited. That lead me to believe it would be and I was hoping for it this week instead of a month from now. Oh well…
i was wondering if i used taxact.com if they are doing the same as turbo tax. my last digits are 16 and havent seen a rebate yet.
This situation applies to all software providers, internet tax sites and tax preparers. If you used a third party to pay your tax preparation/service fees, your REBATE will be paid by check.
Bob Meighan
VP, TurboTax
If you had a balance due and used direct debit, TurboTax would have then asked how you want to receive your tax rebate. Based on your response, the IRS will honor your deposit information.
However, if you filed your return before the Economic Stimulus legislation was passed and you elected direct debit, then you will receive your rebate by check.
Bob Meighan
VP, TurboTax
Hi everyone… I filed turbo tax and had my refund taken from my money due, I was told I was getting a paper check. Today I went to the IRs web page, clicked on wheres my check punched in ss#, filing status and exemptions and BOOM IM GETTING MY REFUND DD MAY 9th. last digits of SS # 58.after talking to the IRS and all of you NO ONE KNOWS what the truth is.Pease go to there web page and do what I did, If your information doent come up it means the IRS has no info on your check.everyone say a good prayer that its no lie. BUT TURBO TAX for me means DD…. good luck. cynthia I will keep you all posted if its there Fri. 05/09
Wow that's wonderful news Cynthia! Congratulations on receiving yours that soon. However we also used TurboTax and had the money taken from our refund. Our last two digits are 17, which would have meant we'd already had our rebate DD already. Not true as of today.
I went to the IRS website and they still don't have any information on us or our payment schedule.
I'm not so sure that we'll be using TurboTax next year. I think SBB&T should have worked with the IRS so that everyone that filed early were one of the ones that received their checks early. Sucks
I called IRS today to see when I would be receiving my rebate check and she told me that they didn't have my banking information only SBBT info. First, IRS does have our banking info. Second, Turbo tax is going to lose ALOT of customers next year because of this third party SBBT. I won't use turbo tax again because my check is Not going to be DD only mailed in Late June. This is totally absurd and I think that Turbo Tax and IRS should work together and try to get us our money either dd or expedite the checks to us. People like me are financially struggling and need this check now and not in late June. I am extremely disappointed in both the IRS andTurbo tax. There was no need to have a third party involved with our rebate checks. We should have had our rebate checks DD like we had our refund checks. With the Outrageous prices of gas and groceries we all need our rebate checks NOW!!
I seriously don't understand why a large majority of people are crying about the dumb comment???? Get over it. We paid ours with a credit card, if we HAD to pay an extra fee ( which we thought was dumb since we could afford not to ), we would. But it didn't make you get your refund any faster. Paying interest and fees when you are not in the position to be forced to is stupid. Turbotax I suppose was banking on people maybe not noticing that.
Nice post Suzanne!
You said you could not afford the fee. You also said "Paying interest and fees when you are not in the position to be forced to is stupid."
Yet you used a credit card. I hope it was intrest free, otherwise that would be rather stupid!
karin… I understand that the rebate delay is causing a lot of anxiety for you and that's understandable. However, it was the IRS' decision to process the rebates by check for those that chose to use a third party for purposes of obtaining their 2007 income tax refund. Because of the way the tax refund process works, the IRS does not have your actual account information to process a direct deposit for you. The account established for your tax refund was a "temporary" account. It was sort of a clearing account that the bank used to pay your service fees and then directed to your account. After that the temporary account was closed. There is nothing TurboTax or any oother vendor can do at this time. I should also mention that the banks are not to blame in this either.
Had we known during the tax season how the IRS would be processing the rebate checks, all tax software providers could have done a better job of communicating these issues. Unfortunately, that information was not available at the time. (You have to remember that the rebate legislation wasn't passed until mid-February.)
I hope this information helps and I hope you get your rebate soon.
Bob Meighan
VP, TurboTax
Karin, I think you are misunderstanding how the system works. When you have your fees taken out of your refund, your refund is first transferred to the tax preparer's bank so they can remove the fees; then its transferred to your bank. That's how you're able to have the option of having the fees taken out of your refund instead of paying them upfront.
Because of this the IRS has Turbo Taxes bank information on file for direct deposit, not yours.
I do understand that it is frustrating, unfortunately if you had fees removed from your refund instead of paying them upfront or if you got a RAL, its going to effect your tax rebate. Turbo Tax isn't doing anything illegal. Its not "absurd," its just the way the system works. Normally people wouldn't care about it, except that its holding up their rebate checks.
And for those of you saying Turbo Tax should have "warned you" stop and think about it for a second. When did you file your taxes? Were the rebates even passed through and approved by then?
Also, its not just an issue with Turbo Tax. Its for any tax preparation service that you used a third party to pay your fees with, i.e. paid your fees out of your check. So if you do the same next year with another tax service and we get a rebate, the same thing is probably going to happen.
BTW, I don't work for Turbo Tax. Its just getting a bit out of hand. It stinks, but it is the way it is.
I understand what you are saying. The IRs nevere told us this they led people to believe that if they filed direct deposit that is the way their rebates would come. Some people still don't know what is going on. It has not been on the news or most websites. Only the people that took time to call found out. Yes this is crazy waiting on a check to come in the mail. Gas prices are soaring and food. If you are rich yes you can wait. Most people aren't so the bottom line is. People need their money and want it.
Ari… Actually, TurboTax never gets involved in any of the refund processing at all. This and all fees are managed by whatever third party bank is involved. In our case, we use SBBT.
Nevertheless, I agree with your conclusion that the rules, processes and procedures were put into place well after most people had already filed their 2007 income tax return. As I stated in my earlier posts, software providers would have done some things differently had we all known months ago how the IRS would be processing the REBATE checks.
Thanks,
Bob Meighan
VP, TurboTax
Ari… By the way, I meant to add that it is understandable that people are getting upset about this issue. People have been expecting their rebate checks to help pay bills and offset the higher price for almost everything these days. When the receipt of this needed money is delayed, it can be a very frustrating and anxious time.
Bob Meighan
VP, TurboTax
I too live paycheck to paycheck (with no savings) raising 2 kids with child support that rarely ever shows up (meaning like in 3 years only gotten payment 12 times and never the full amount). I live in a trailer that's falling down around our ears but we deal with it. I look forward to my refund every year to catch up with bills I'm past due.
Even living in low income I never used the RAL or SBBB&T. You didn't have the money to start with so what's an additional 2 weeks to wait for direct deposit? (sorry I'm not gonna call it a dumbass fee/loan – that's going a bit too far – but I do think it's not smart to do it).
If you're low incoming (or military – but then if you're military and need money there are other revenues within the military, I know I served 2 tours during Desert Shield/Desert Storm) then you should qualify for Turbo Tax's free filing, thus that would eliminate the need to do a SBBB&T.
I need money as much as everybody else but what is already late isn't going to be hurting if it waits an additional 2 weeks.
The IRS website have a link to check the status of your stimulus payment (not just a payment schedule), mine is coming as scheduled on May 9th. I used Turbo Tax (and have been for the last 8 years) and have never done SBBB&T or RAL.
I have no complaints about Turbo Tax and plan to use them in the future for my tax needs.
Why is everybody complaining over when they get free money? Needing the money is not an excuse, what would you of done if the government wasn't going to give a stimulus payment?
There was no intentions to give insult with this comment, I was just making a statement.
If I remember correctly, or I could be wrong but when we filed our 2006 taxes I don't remember my husband throwing such a stink about paying a fee like SBB&T charged this year. We paid the fee and went with DD. This year however my husband threw a stinker of a fit because SBB&T charged something like $30 or more.
I'm not saying that it was smart OR stupid of us to pay this, if we had had the money to pay by credit card (which we own NONE thank you very much) or that beautiful emergency fund that seems to be non-existent because of raising prices, we wouldn't have had to go the other route.
I'm not happy with TurboTax or SBB&T or the IRS at this point in time but I AM disappointed in the fact that these three entities can't work together to get the customers that DID pay those 'dumbass' fees their money sooner. I would think that those 'accounts' that were used for every single customer could be used again for our DD. Oh but wait….then SBB&T would want more money to process that! F*%$ that, I'll wait for my FULL rebate amount.
My DD bank information is on my form 1040A. Yet somehow the IRS doesnn't have my DD information? Yet rather have Santa Barbras bank and trust information? That makes no sense at all.
I feel screwed by Turbo Tax since I was never warned that if I used thier third party banking system that I would further delay my tax stimuli rebate.
Heres what gets me though, and upsets me the most. Turbo Tax will broker you through a 3rd party bank, so they can receive thier fee's that much faster. The irony is my girlfriend used Turbo Tax and paid no fee's at all and received her stimulis rebate check today. I used Turbo Tax and paid for there worthless "guide me through" option, and I'm getting screwed for it. You think the fact I paid 30 dollars no less for a guide me through I wouldve at least been warned about future problems dealing with the stimuli checks.
So to summarize: Pimp turbo tax for free and you benefit more then the paying customer!
So TT, regardless of what anyone says is making out just fine, and the consumer is getting screwed. TT got to charge me 30 dollars for a walk through that didn't help at all and I didn't even use. On top of that they received thier payment right away for shipping me off to the third party bank. It still took 14 days for me to get my refund back in late February anyway.
So TT sold me on an idea that I should use thier third party banking system and it would somehow benefit me. I feel in more ways then one in the end it screwed me.
YOU COULDN'T PAY ME TO Use Turbo Tax again next year or years thereafter and all my friends and family, even my girlfriend agree.
AND I STILL CAN'T GET ONE SINGLE HONEST RESPONSE FROM TURBO TAX!! JUST ONE RESPONSE PLEASE!! THAT MAKES SENSE!
IF MY BANKING INFORMATION IS ON MY 1040 A FORM, AND TURBO TAX SUBMITS THESE, THEN WHY WOULDN'T THE IRS HAVE MY DIRECT DEPOSIT INFORMATION?!!?!?
due to medical bills and such my wife and I are very tight on funds. We usually seem to run out of money before month. We do not have any credit card debt and have our savings and emergency fund tapped out. I have been very sick over the last few years and it has really taken a toll on our finances. We are always worried about how we are to put food on the table for our children and how to pay for gas for our vehicle. Unfortunately, everyone that I could turn to for help seems to think that I make too much money for assistance. Things are only getting worse. I think that it's crazy for people to be so upset about the stimulus payments. Yes, it's perfectly fine for one to be disappointed, but it's not okay for people to yell and point a finger. I can tell you that right now our bills that are due equal to exactly to the dollar what my paycheck is to be tomorrow. So, my wife and I have no money for groceries or gas. I am hurting for the money, but trust God. I know He will work things out.
By the way- I am 25 years old, have a pretty decent job for my age, have two young daughters (3 and 5), and have a pregnant wife. I know what it is like to struggle and worry for my family. I have been in and out of the hospital/surgery room too much in my life. Please be patient and your money will come.
By the way- I am 25 years old, have a pregnant wife, two young daughters (3 and 5), a decent job for my age and place in life, and have been in and out of the hospital/surgery room too much. Please be patient and your money will come. If anything, consider this a lesson in patience and reliance upon something more than yourself.
Jason,
Because SSBT is who transmitted to the IRS. They set up a temp account(as stated on the documents, I had to pull mine out). I like you had MY information on my 1040 BUT when SSBT transmitted they used there information. I did my return way before the stimulus was approved. Yes maybe if we all knew about the routing information they we all could have called the IRS in the window time there was to change it. Even though I chose to efile through tt I should have read about SSBT part in it, I didn't used them for the past 4 years, BUT next year will be different.
Sorry I meant Michael not Jason!
Michael D…. I can understand how frustrating this situation must be. You are not alone.
Some of your concerns are addressed by me and others in previous posts, but let me specifically address a few of yours here:
1. The IRS does not have your bank account information. When you elected to pay your fees by using SBBT, the IRS tax refund gets redirected to a SBBT account. They then pay your tax processing fees and send the balance to your account. They manage the refund dollars. All the IRS has is the SBBT temporary account number used to handle your refund.
2. When you use SBBT, we actually receive our fee later than any other payment method. We don't get paid until SBBT receives your refund. And if your refund is denied or applied to another outstanding debt, we don't get paid.
3. The fact that you paid for the "guide me" functionality in TurboTax has nothing to do with the payment of your rebate check. This situation applies to customers of all software companies, tax franchises and tax preparers when the customer used a third party to pay their fees.
4. We really don't market or try to upsell anyone on the third party payment method. We do offer it, however, as a convenience to those who don't have a credit card, don't want to use one, or simply like the convenience that the bank offers. There are about three sequential interview screens in TurboTax that explains the payment option. It is our sincere intent that the terms and conditions are prominently explained to everyone. We never want anyone to feel misled into purchasing something they don't want or need. And in fact, we do state that this is an optional service.
5. Please remember that the REBATE legislation was not passed until mid-February and that the details of how the IRS would be processing the rebates did not come until almost the end of the tax filing season.
I hope these facts help you understand the situation.
Bob Meighan
VP, TurboTax
I filed turbo tax but the IrS web page says Im getting direct deposit this Fri,. is that true? or is it because that was my anticipated date. Should I expect it or am I being played. Two more days to see I guess. cynthia
As long as you did not use the services of SBBT, you will receive your REBATE check by direct deposit. That is assuming you selected direct deposit for your income tax refund.
Bob Meighan
VP, TurboTax
Excuse me, I would just like to state that "DUE" is correct in the first sentence. That's a shame, really. Don't correct someone's grammar to the point of discounting the rest of what they have to say based on your own grammatical skills unless you know you're correct. And by the way, the "you're" is correct over "your" in that context. What he has said is 100% completely correct and there is absolutely nothing you can do to receive direct deposit. And I always thought so highly of Turbo Tax. Thanks for the information.
I did rec. it direct dep. but I also went to The IRS web page and input some info and it said I will rec. it FRi.DD.but I used turbo tax. I copy and pasted teh IRS note stating that but Im not sure. Everyone else who used turbo tax is paper check. are the editions we used like deluxe make a difference?
How do I know if I uses those services? that bank?
Cynthia… This situation applies to all taxpayers regardless of which software, online service or tax preparer you used. Your rebate check will be mailed to you if you paid your tax preparation fees from the proceeds of your income tax refund. If you did so, you would have used a bank to facilitate the payment of these fees. To keep this simple, if you used your credit card to pay your TurboTax fees, then you are fine. You will receive your REBATE check by direct deposit.
And just to correct your last comment, if you selected direct deposit for your income tax refund and you paid your tax preparation fees by credit or debit card, you will receive your REBATE by direct deposit. This applies to TurboTax users and all others who used tax software or another tax service.
The IRS' decision to mail paper checks to those who used a bank product to pay for their preparation fees or RAL (which TurboTax does NOT offer) was not directed specifically at TurboTax but at everyone. See my post above for more information on this. I'll also post another version after this one.
Bob Meighan
VP, TurboTax
It's unfortunate that those who used a third party for refund/payment processing of their 2007 tax return will be receiving their REBATE by check. However, this is a decision the IRS made (and for valid reasons… see below). It applies to all taxpayers regardless of which tax software, online service, or tax franchise you went to. If the return's refund or the payment of fees were handled by a third party, that means your REBATE will be by check.
Had the tax software companies and tax franchises known how the IRS would be processing the rebate checks back in tax season, I'm sure we all would have handled this differently. Remember, the rebate legislation wasn’t passed until mid-February and the details on how the IRS would be processing them didn’t come for many more weeks after that.
If there is any consolation for those in this unfortunate situation, it is that the IRS is about a week ahead of their original schedule.
For more information on REBATES and TurboTax, please visit http://turbotax.intuit.com/support/kb/tax-content/tax-tips/5961.html.
As to why the IRS decided to send rebate checks to these taxpayers who used third parties, here is why. When you make the election to have your fees deducted from your refund, the bank sets up a temporary account used only to receive your 2007 refund from the IRS. The IRS sends the 2007 income tax refunds to the temporary account and the bank then transmits the net amount (after deducting any fees) directly to the your actual bank account. Because the IRS does not receive taxpayer bank account numbers under this method, it cannot match taxpayers with their current bank accounts. That's why the IRS decided that taxpayers who entered into financial transactions with third parties will get rebates by mail. This also applies to taxpayers who used "refund anticipation loans" or RALs (loans made to tax filers against their expected refunds). TurboTax does not offer RALs.
Bob Meighan
VP, TurboTax
See bob mine payment came in as a ACH so I was unaware of the RAL It still doesn't make sense they didn't put the money in until the IRS put it into the temp account so I thought RAL was loan type of deal.
Whats ironic is that all of these problems and TT may loose customers regardless of why. I did my taxes in Jan so I wasn't aware of the Stimulus situation. I guess for me or anyone to complain isn't going to change anything but it is a let down.
Laura… What some people fail to realize is that many taxpayers had already filed their income tax return by the time the legislation was even signed (Feb. 13). It wasn't until almost the end of March before the IRS provided guidance in how the rebate checks would be processed. It would have been great if we all knew back in January what Congress and the IRS would be doing later in the season, but that's just wishful thinking.
I know the IRS worked incredible hard to get the rebate checks moving quickly. Unfortunately, there were some unintended consequences as a result of some of their decisions (and I'm not saying their decisions were bad).
Bob Meighan
VP, TurboTax
Did they move up the date for the checks like the Direct Depo.
Bob,
How did you get involved in this website?
Laura… I believe the IRS moved up the initial dates for direct deposit by 5 days. However, I would not assume that all future dates will be accelerated, but it is a good guess that they will be.
I found this website simply by "googling." If customers/taxpayers have questions, I'm happy to answer them if I can. With the rebates, there has been a lot of misinformation and confusion. It's understandable given that most people had already filed their return before the REBATE legislation and it's implementation details had been communicated.
Bob Meighan
VP, TurboTax
See, after reading all of this information and everything, I sincerely understand that I WILL BE recieving my rebate in check form because of the fact that I did not pay for my due's by a crc or what not. At that time, I didn't have any, however, that is beside the point.
The weird thing is, my husband is primary on our taxes because we filed together. A few weeks back, I recieved in the mail under my name a letter stating that we would recieve the rebate on 05/16/2008 by direct deposit.
The thing is, my last 2 of my ssn is 87, my husbands is 15. He is the primary, not me. We used TT and had our dues taken out so that would make it so it would be paper check…but why did I get a statment from the IRS stating that we would recieve our rebate on the 16th by DD?
It's just all confusing, simple, but confusing, and I'm not one easily confused. All I know, is that sooner or later, if not by 05/16/2008 Direct Deposit, then by 05/23/2008 Paper Check, I will recieve my rebate.
Although, there are errors or quirks rather that wasn't completely thought out…it is a good thing for us to be recieving the rebate. I mean, it is free money, ya know? It's just not coming when we expect it, but nevertheless, it will be here =) Heck, Maybe by christmas =)
I just wanted to say one thing real quick to Bob Meighan VP, Turbo Tax. You keep saying that it is all " software companies, tax francheses and tax preparers". This is not true. I know people that went on-line and used H&R Blocks free software and they have already gotten there check DD. I am noticing that anyone that used H&R Block got there money REALLY quick DD. I have been using TT for about 10 years now. I will not be returning next year to TT I think I will go with the more trusted name H&R Block. I am finding that is only the people who used TT that are having the problems not all software companies, tax franchises and tax prepares. Last I check H&R Block falls into two of those catagories, and there customers still got there money. NO MORE TT FOR ME!!!!!!! This will be a loss of about 6 customer on my part.
Becky
I don't understand what this 'letter' is that everyone is talking about from the IRS. Neither myself or my husband has received a letter of any sort from them so I'm not sure what is going on.
I do know that when we've gone to the IRS website and calculated or tried to see if we were getting something it states that we will be getting our $1200 but doesn't give any specific information as to when we'll get it. Unfortunately it's by paper check since we went through TurboTax and they used Santa Barbara Bank & Trust as their 3rd party, otherwise we would have gotten ours already. In the first batch of DD no doubt, now for paper checks it's looking more like the end of May early June. *sigh*
bob, nice job…you answered everything like a good VP should. your boss should be proud, very dipolmatic…informative and matter-of-fact. it isn't TT's fault…how could you have known? but as they say "i guess that's why they pay you the big bucks". just know this, i've been with TT for 7 years, and i'm fairly please with the service however i will more than likely go to another means of filing next year. especially if i find out that there were people who used H&R free online software and had no problem. if i don't find this out i'll switch anyway just to be a part of the free market system. looks like you got a PR nightmare on your hands and this train is gonna keep rollin. good luck to you, i'm sure you have the emrgency fund and don't need the rebate but perhaps a new job in the following months…but it's not your fault, or the irs's, or the banks…it's just the way the chips fall.
I am one of the unlucky ones that was supposed to have my DD this week, but now I will wait until around the 20th of June to see it. I still feel cheated, and this is why.
Bob of TurboTax states a few things here:
-TurboTax does not offer RAL's.
-The stimulus details were finalized at the end of March, leaving not enough time to get a system in order to work with the IRS.
Here is what I see on my end.
When I check my bank statement, I see an entry for my federal tax income refund, and it is CLEARLY marked as an RAL from the RAL DEPT of SBBT. Also, the dollar amount I received from SBBT is shy of the final amount I was told I would receive after all TurboTax and SBBT fees. So… I see 2 red flags right there.
I also see an entire month's time from when the IRS finalized the stimulus plan details to the time they started sending out direct deposits. I'm not sure about many of you, but if there's a problem with this scope and magnitude, that obviously affects way more people than just a few, you have one whole month to figure something out and implement it.
If something like this happens and the time passes and NO ONE IS NOTIFIED of what's going on until after the fact… jobs are lost… at least in my industry (financials, go figure).
I appreciate all the goodwill here, I really do, but at the same time I still feel cheated. I feel this way because in the month everyone had to figure something out, nothing was done, and NONE OF US WERE NOTIFIED. I also feel this way because the information we are receiving is still conflicting. TurboTax telling me they do not do RAL's and then seeing an entry for a federal tax income refund RAL on my bank statement kinda gets to me.
I truly believe that it would have been in TurboTax's (and everyone else's) best interest to at least let us know of a potential problem, rather than finding out by simply not receiving our stimulus payments. It might have been able to save them from the sizeable loss of business they are sure to incure from this, even if it is not directly 100% their fault.
Just my two cents.
Becky… There is a lot of misinformation out there and I'm glad to help clear it up. Your suggestion that it's just TurboTax is absolutely not true. It affects all taxpayers regardless of how you filed if you used a bank product. The IRS just released additional information today and here is a direct quote from that news release:
" Q. I chose direct deposit for my 2007 tax refund but also requested my electronic filing and/or tax preparation fees be deducted from my refund. Does that affect my stimulus payment?
A. If you requested that your electronic filing or tax preparation fee be deducted from the amount of your refund, you have entered into a financial agreement with the tax preparation provider or e-file software company for a refund anticipated check (RAC). Both Refund Anticipation Checks (RACs) and Refund Anticipation Loans (RALs) are bank products. The money that is deposited into your bank account comes from the financial institution associated with your electronic filing software provider or tax preparation provider, not directly from the IRS. Taxpayers who use RALs, RACs or enter into similar loans or financial agreements with their tax professional or tax software companies will not receive their economic stimulus payments by direct deposit. Instead they will get a paper check that will be issued according to the schedule that has been published for paper check distribution."
This is from IR-2008-70 dated May7, 2008. Here is the link for those that wish to read the latest from the IRS: http://www.irs.gov/newsroom/article/0,,id=182735,00.html.
The vast majority of TurboTax customers will get their rebate check based on the regular IRS processing schedule. The exception applies to all taxpayers who used a bank product.
I hope this information helps.
Bob Meighan
VP, TurboTax
I know this is all very confusing and frustrating. But is Turbotax really to blame? I mean if they had known of the stimulus when they updated their software for 2007 they could have possibly put something in there so we who paid our fees from our refund could still get DD. As far as switching, I will not. I have filed with TT for three years now and got my refund in less than 14 days for less than $70. Before that I used another company, no name mentioned, it took them 45 days to get my refund to me because of their mistake and I still had to pay over $300…their mistake and they would not refund any of the fees. The same year my husband, fiance at the time, used aanother company not mentioned and they told him he could file head of household when he lived with his mother because he paid half of the bills. This was not true and he had to pay the IRS back $4000+. Besides, this economic stimulus is probably a one time thing and Im sure if it isnt the companys such as TT will update their software to allow for DD no matter how you choose to pay your fees. I am frustrated too because I have four children and I was looking forward to this money but I cannot blame TT or SBBT…they have been great and I will continue to use their services!
Well..if i used turbo tax but did it for free am i entitled for dd? my last numbers are 62 so by this friday i should have $600?? i did get the letter back in march stating i was eligible.
oh and i did learn that if the tax the took out was less than $600 you get that amount..thankfully they took out at least $1000 dollars for taxes so i get the full amount [just incase people were wondering how they figure the amount they get]
My daughter and myself used TT and had fees taken out of our refund and will be getting paper checks. My daughters fiance used H&R Bloack and had fees taken out of refund and got his today which his ssn ending in 54 was not expected yet even if he was getting a DD. Seems this did not affect H&R Block users even if they elected fees withheld from refund?
ChrisW… TurboTax has NEVER offered RALs. I believe the description you see from SBBT is just their generic merchant transaction description that accompanies all tax bank products they offer. But again, TurboTax does not offer RALs.
Even to this day, we continue to receive updated information from the IRS on the processing details of rebate checks. Had we all known the specific details of HOW the IRS would be processing rebate checks back during the tax season, I am confident we would have communicated this to everyone.
I appreciate your two cents Chris and I can certainly understand why you feel cheated.
Bob Meighan
VP, TurboTax
No more TurboTax… Thanks for your comments. We also offer a free TurboTax solution (we were the first and provided over 2 million free this year alone). Anyone using the free product would not have been affected because with free there would be no reason to use a third party bank to pay your fees (since it was free).
Once again, I think it's worth repeating that this situation affects only those taxpayers who paid their tax preparation fees (whether it was software, online or a tax preparer) from their refund (even though they selected and received their tax refund as a direct deposit). This specific group will receive their rebate via a mailed check.
Here again are two very specific sources of information from the IRS that describes the topics in this thread.
http://www.irs.gov/newsroom/article/0,,id=182734,00.html
http://www.irs.gov/newsroom/article/0,,id=182735,00.html
Bob Meighan
VP, TurboTax
Hey Bob, I got a nice one for ya. I filled my taxes with turbo tax on jan 31 2008. There was no news of the stimulus plan then was there. I have used turbo tax for a long long long, how about everytime I have filled since I was no longer a dependent. You are all right about the no Ral. Not once have you offered this. When you e-file it takes 10-14 days to get you refund, but for the last 5 years it took me 10-14 to e-file with you. I wouldnt call that a Ral would I. The next time you want to give to us like that, use some lube.
I agree with you Steve you are all complaining about how turbo tax did something wrong, first of all you went to them they didnt come to you, second of all if you read the fine print then maybe you wouldnt be in this situation. Complaining about it isnt going to fix it so let it be. I used H&R BLOCK and paid my fees with my debit card on the same day. But there is no reason to be mad at turbo tax because they did not force you into it, you took it upon yourself to use them. But I bet Turbo tax will lose alot of customers because of this.
Greg Shank… I'm not sure what your point is. You say e-filing takes 10-14 days and that's been your experience with TurboTax. That is the expected IRS turnaround time on e-filed returns. Regardless of who you use to e-file, the IRS still processes all of those returns in a "first in-first out" basis.
RALs are actually loans you take out against your tax refund. As you correctly stated, TurboTax does not offer RALs and we have no intention of doing so.
Bob Meighan
VP, TurboTax
Hi. I filed my taxes on April 11, 2007 using turbo tax with direct deposit and i didn't pay anything to file. I was also eliglibe for a rebate of $300 and I received it by direct deposit on May 2, 2008. i'm assuming if you do not have to pay turbotax to file it, your info is sent directly to IRS and IRS sends your money dirctly to your account not turbo tax's account since there's no fees to pay Turbo tax. Maybe…
Renee… You are correct as evidenced by the fact that you received your rebate on schedule.
And just to clarify again… Any taxpayer who elected direct deposit for their tax refund but used a bank product to pay for their fees or obtained a RAL will have their rebate switched to a paper check. This is true regardless of how or who filed your return (in other words, this is an issue that affects all, not just TurboTax customers). This is pursuant to IRS. If you paid using credit card, debit card or received the services for free, you will receive your rebate based on how you received your tax refund.
For more information, please see:
http://www.irs.gov/newsroom/article/0,,id=182734,00.html http://www.irs.gov/newsroom/article/0,,id=182735,00.html
Bob Meighan
VP, TurboTax
Bob,
I appreciate your comments here, I want to say that first and foremost. I understand that you're here trying to give people useful information and it's good to hear it from the source.
Cherrie,
I think you are reading into this wrong. We as a whole are not in reality "blaming" TurboTax for this problem. Anytime the Federal Government gets involved in ANYTHING, it gets screwed up… ESPECIALLY now that we have a Democratic Congress (let's not go there, it is what it is).
We're mostly saying here that it would have been nice to know this before it happened. People started getting DD's on the 28th of April, and the details of the stimulus payment started trickling down to tax preparers and tax payers alike as of late March.
We should have been notified then that there is a possibility of a potential problem receiving our "rebates" if we used a bank product.. which, by the way, the more you think about it, you're paying two organizations to file your free taxes. You pay SBBT for just the privilege of paying Intuit's fees.
I have since confirmed with 3 separate individuals whom I personally know that H&R Block is not having this issue. All three of these people had their fees deducted from their refund amount and then direct deposited into their bank accounts, and all three of them have already received their stimulus payments via direct deposit.
I also know of ONE person, once again whom I personally know, who used TurboTax and had their fees deducted from the refund (meaning SBBT handled it) and THEY received their stimulus payment this morning via direct deposit.
Fact of the matter is that we have been duped. Once by our government, who didn't think of this issue before-hand, and once by our tax preparation companies for not warning us when they learned of the stimulus payment process.
You are correct about one thing, though. None of us can do anything about it by complaining, but we are entitled to voice our opinion on the issue.
The truth is…Not everyone will be getting the total amount that they are expecting, the rebate is based on your tax liability. My boyfriend and I both filed through TurboTax, using their free file software. It was completely free. He is getting his tax rebate direct deposit tomorrow. However, due to me filing an ammended return, mine will be mailed out on May 16th. The numeber to call to find out the exact amount of your rebate and the exact date for it to be mailed or direct deposit is…1-866-234-2942
Hey Greg you are funny but right, I don't think 10-14 days is RAL, that seems like the average time for direct deposit. But everyone should call and complain to the irs and also turbo tax for not explaining what was going to happen with your rebates. But the more you complain the more mad you will get, and that is not going to solve the problem.
As far as complaining to Turbotax…most people had filed their refunds before the economic stimulus plan had been thought of. So what good would it do to complain to them? Second, as far as H&R, I have learned that upon approval of the stimulus, they were able to update a software program to allow the dummy accounts they use to remain open for direct stimulus payments. They also use a different bank for thier funds that was able to work with them to see to it their customers got DD. But with H&R I also learned that the fees for their service, according to a friend, are almost double that of Turbotax. No matter what, the only one to blame for the confusion is the government. They should have came up with this plan early enough that all of the prepartion companies could adjust. This stimulus was created to improve the economy so why did they wait so long to do it. Either way, Im happy Im getting something and I will get it when I get it.
By the way, I talked with someone who filed Turbotax and got thier fees deducted from thier return but still got DD. Somehow she ended up having to mail her return and thats how the IRS got her info. I still dont understand how if she mailed it she had fees deducted but maybe thats what the catch is.
I just got my stimilus check direct deposited into my account. I used TaxAct.com, which I thought was a lot easier (and cheaper too if I recall) than TurboTax.
They electronically file your Fed return for free with the option for DD and charge a fee of like $13 to electronically file the state portion. I went ahead and got that service too which I paid for with a separate CC. In fact, I'm not even sure they gave me the option of having it deducted from the state refund. I don't think they did, because I probably would have used that option. Who wouldn't, right?
Anyway, good luck to all. I hope you have a low ending SS# and a consciencious mailperson.
To,
Bob Meighan
VP, TurboTax
Thanks Bob for taking the time to answer all the questions concerning the Stimulus Payment. The information is greatly appreciated. I'll for one will be using Turbo Tax again.
Rob
I will apparnetly be the last person in America to receive my stimulus check. Weeeee.
Chris- thank you for posting this info, it helped me a lot today, it mostly helped me learn a lesson.
I almost had a heart attack today when I checked my bank account and saw no DD of my stimulus check. I frantically did research for the last 2 hours (here at work no less) and have finally learned my 'mistake' in opting to pay my Turbo Tax fees out of my refund. This is the first year I did that it will certainly not do it again, especially because I am one of the lucky ones that didn't need to, I could have paid with my cc. So now I will be getting a paper check towards the end of June instead of today, which isn't the end of the world. I'm more mad at myself as a consumer for not being smarter about this situation. I also get nervous with paper checks because, well because I get worried I won't actually get it. Either way, my one complaint is this. TT could be a bit more proactive in CLEARLY disclosing that if one chooses to have their fees taken out of their refund, that they are actually paying 2 fees, one for the use of TT and one for SBB&T to 'house' your refund before DD into your checking account. I think it's kind of crappy that any kind of charge like this exists, but I supposse, this is how money is made. I also think the IRS very likely knew that this type of scenario would happen and also could have 'worked with' SBB&T to avoid this situation, knowing that so many people use TT and so many people would more than likely choose to pay their fees out of their refund. Nobody should have to 'pay' to get their own refund. I guess it does end up being the price we pay for convenience.
My last comment is this. At least we are getting some sort of money from the government. Be thankful for that at least. Even if it's just a small rebate, it's more than any of us had before.
Thanks again for a lesson well learned!
For all of you who have heard that you will receive your payment by paper if you used Turbo Tax and received DD thru SBBT. ITS NOT TRUE. I received my payment this morning ON TIME and I received my refund via SBBT. Since I was freaked out by when I read all those postings, I just thought I would let people know.
You used SBBT? My husband and I used SBBT through turbo tax too, and you recieved your money DD?
yeah for jocelyn for bringing the people some hope!!! I hope works out for everyone.
Yes I used SBBT with my refund and yes I did receive the stimulus DD. After researching the internet yesterday, I was sure that I wouldnt get it. But First thing this morning it was in my account.
Jocelyn- I wouldn't go as far as to say it's not true people won't get DD from SBBT, obviously MANY of us haven't gotten our DD so there must be some truth to the fact that many of us are getting it via paper check. Did anyone using this site happen to contact SBBT to see what they had to say about this issue? I'm curious if they are confirming that anyone you used TT and went through them will be getting a paper check.
I used Turbo Tax and paid upfront for the charges. My check was direct deposited on the correct date.
I just called my bank, no money!!! Sucks!! I guess some are just lucky, I honestly don't think anyone truly knows when your going to get them.
I think Danielle might be right. But for what it's worth, for everyone who is in this same predicament, I just visited the IRS website again and they have updated their site with 'more FAQ's' and they do address this issue and state that if one used a third party bank to process the fees right from their tax refund, they in fact will not get a DD rebate but will instead get a paper check rebate and it will follow their schedule for mailed checks. So the last of the checks will be mailed by 7/11. It kind of stinks but again, at least we're getting some money. Hope this info helps!
I agree beggers can't be choosers. I just had my hopes for today!! OH well!!
This is totally BS that today I find out that I will not get my rebate on the 9th. I had TT take out the fees from my refund. If I would have known that this was going to happen I would have used my CC. TOTALLY BS! This is TT's fault and all tax software not sending the BANK infomation to the IRS. Something should have been put in place to tell everyone about this!
I have so many things I was counting on this money for and now I will be totally SOL until JUNE27 or after(67). WHAT A CROCK OF SH….T!!!
I WILL NEVER USE ANY OF THIS BS TAX SOFTWARE AGAIN! THIS IS JUST WRONG!!!
I just copied this from the SBBT website and would like to know how any of you that had your fess taken from your refund got a DD? What did you do different?
SBBT INFORMATION
If you qualify for an economic stimulus payment and if you used SBBT to pay your tax preparation fees from your refund, the IRS will mail the economic stimulus payment directly to the address on your tax return. Your payment will not be direct deposited. For more information on the economic stimulus payments, go to http://www.irs.gov or call 800-829-1040.
Crystal I read that to, and was wondering the same thing? Im done worrying about it, I guess I will get it, when I get it!!
I just read that pop-up on the SBBT website and dont see how anybody that had fees deducted from their refund, after reading that, would get DD. Doesnt make sense. My friend got his last Tuesday, but of course his ssn was 02 and he used his CC through somebody other that TT.
I just cant believe all of this. Very frustrating for myself and all of those in the same position. Im just beside myself about all of this. With my luck, I wont get a paper check neither. My sons birthday is tomorrow and this does throw a wrench into our plans…
I guess the bottom line is our economy sucks!! Everything is going to s****!!! Gas prices are outragious!! Its just freakin ridiculous!! There needs to be a revolution!!
Yeah, it does stink. We've had our hopes up thinking that we were going to get our DD on 05/02/08 and then when they said they were going out a week early, oh man, did we ever get our hopes up…as push comes to shove, we've not recieved it yet, but as previously stated up there…I do know it will be by check. My husband is primary (15) so we will be getting ours hopefully on 05/23/08 … well, it will be mailed that date, but no telling when we will actually get it.
We were thinking we would be getting 1800 back because of our 2 children, however, it seems we will not be recieving that amount, but only 1200…that puts a bit of damper in our plans, too. We received the child credit on our taxes and what not, but for some reason, it seems that the IRS thinks we don't need the extra bit for the children. Who knows, quirky is what term i'd use. Very fickle!
Oh well, i guess a little bit is better than none at all.
Melinda,
The amount you recive is based on the two children and what you actually paid into taxes. Thats probably why its less than you thought. We thought originally we would get $2400 ($1200 for us and $1200 for our 4 children). According to the calculater we will only get $1800 ($$1200 for the kids and $600 for us because we only paid $533 into taxes). It is based on the tax liability so keep that in mind.
A few posters above claimed to have used TurboTax, paid their fees using the services of SBBT, and received their REBATE (not the tax refund) via direct deposit. We have checked with SBBT and IRS several times and they tell us it cannot happen. They do not know of a single case. They say these rebates will be mailed.
I believe what MAY be confusing some is that they are just receiving their tax REFUND now and believe it to be their REBATE. This is just my speculation because no other circumstances could explain this. This would be the same for all others who used other software in conjunction with a bank product and claim to have received their REBATE by direct deposit. Confusing? Yes!
I'll repeat again for those who may not have read my much earlier comments on this issue. Had we known during tax season what we now know about how the IRS is processing REBATES, we would have done some things differently. If you'll remember, many of the mechanics of how/when tax rebates would be processed weren't finalized until almost the end of tax season.
Bob Meighan
VP, TurboTax
I think a person would have known if it was a tax refund or stimulus package!! lordy jees!! Were not stupid!!!
OK I am going to post this one more time. I file thru Turbo Tax. Had my filing fees taken out of the REFUND, and my refund came from SBBT.
I was NOT expecting my REBATE today beucase of that and all the info I had read. BUT I did receive my REBATE today – ON time and so did my mother, who also filed the same way I did.
I dont know how, but my money WAS there, so obviously they can do it.
Jocelyn… Congratulations. Perhaps you could call SBBT and give them your information so we can find out what is going on (because they tell me it should not be happening). If you do call them, pls have them forward the information to Doug B (SBBT) and tell them that I made this request.
Thanks,
Bob Meighan
VP, TurboTax
Tom,
I understand that you're upset, but calm down a read through the other comments first. While it may suck, its not the fault of the tax preparation companies. How were they supposed to know that this would happen when the rebate legislation wasn't even passed before people started filing their taxes? You can't tell people something you're not aware of. Like it or not, its no one's fault but the IRS, surprise surprise.
Bob Meighan,
If you get that information could you pass it on to me? I also received services from SBBT…Thanks!!!
I will do that.
By the way, if anyone believes they received their rebate by direct deposit AND they used SBBT to pay their tax prep fees, please call SBBT with your details. Ask them to forward that information to Doug B.
Thanks,
Bob Meighan
VP, TurboTax
I would like to know too, I also had direct deposit through SBBT. I apologize for being rude earlier, just a little frustated!! I understand its not turbo taxes fault!! Thanks!!
What is the benefit of using Turbo Tax? If anything this Stimuli problem has helped me to learn a lot and I feel like a smarter consumer for it. You can't send money in exchange for that.
Think about it. If you used Turbo Tax FREE EDITION you will get or have received your stimuli check by direct deposit on time or early.
HOWEVER, IF YOUR A PAYING CONSUMER you basically got screwed, whether its the IRS or Turbo Tax.
Turbo Tax doesn't offer RALS?!?!? Then why do thousands upon thousands of users have "SBBT RAL DEPOSIT" showing up on thier bank statements?
Call it what you want, but were being penalized for using and paying for Turbo Tax direct deposit. Whether yous ay its a RAL or not, the government views them that way.
Worst of all is there are dozens of FREE programs the IRS guides you to use that work better then Turbo Tax. I had to wait 14 days to pay for e-filing with turbo tax, when I couldve waited 14 days for free. THERE WAS ABSOLUTELY NO BENEFIT OF USING TURBO TAX AT ALL!! I along with any users out there facing this problem with the stimuli check, just used a free program the IRS has been posting about for a few years now, none fo us would have this problem. Unfortunately we were blind, opted to pay for what is free, and are suffering for it.
Thousands upon thousands of users in the past few weeks are vouching to never use Turbo tax again, and I'm sure when the smoke clears anyone who does should be smart enough to use it for free now, since there is no benefit to paying!!
So I ask you Bob, to the consumers you can salvage, What would you tell them is the benefit to using Turbo Tax!?!?!?!? What does Turbo Tax provide that isnt free nowadays and backed by the IRS no less?
Turbo tax is obsolete, I know that now, and a delayed stimuli check was totally worth it, since knowledge is truely power.
Michael
To summarize my point.
I se a stock I like, I can buy it for 5-10 dollars through Schwab. I can also pay a broker 75 dollars or more minimum. (much higher, usually 5 percent) What do you think is the smart choice?
I can pay Turbo Tax to broker my direct deposit and get it within 14 days through some third party bank which obviously comes with consequences, or I can use the free programs the IRS provides and know I am dealing directly with the IRS. What do you think is the smart choice? (Oh i get it, I'm paying the 30 dollars to receive it faster? Then why don't we get it faster? On top of that I'm paying 30 dollars for a guide me through which was 100% worthless, and neded a 9.95 upgrade to protect its own mistakes!!
Turbo Tax is a joke and obsolete, just use the IRS information on how to do taxes yourself, FOR FREE!
By the way Bob, I will not stop using Turbotax. They are great and they could not have known of all this confusion when the 2007 season opened. I dont fault them. I feel like the IRS should solve all this confusion by just issuing all of our checks now and those getting DD, DD it now. No more schedule! I just wanted to let you know Im disappointed, but I stand behind Turbotax 100%!!!
Michael D… Actually, TurboTax introduced a free software solution around 1999, well before anyone else. And today, we provide over 2 million free returns for people with less complex tax situations. Our initial free product was a philanthropic effort to reach out to low income taxpayers. I'm proud to say we still have that today.
Now on to your other questions.
There are about 20 free tax software/online solutions today. We are one of them and they can all be found at http://www.irs.gov. Some are good, some are very bad. What most offer is the opportunity to prepare and file a simple return for free (including electronic filing). If you have a more complex return, then you'll want TurboTax. The fee-based TurboTax has many more benefits (year-over-year transfer, additional guidance, ability to handle more complex tax transactions, integrated help system, etc.) that around 15 million customers find valuable.
The choice as to which one to use is up to you. The free and fee versions are both promoted on our home page. There is full disclosure and again, the choice is yours. There's no bait and switch. The benefits and costs are clearly described.
Regardless of whether you use TurboTax or another product, refunds for most efiled returns are processed by the IRS in about 10 days (although the IRS and others generally quote 14 days). The turnaround time is dependent on the IRS and has virtually nothing to do with the software. Use us or use someone else and the turnaround time is about identical. The IRS processes returns without regard to who is sending the return.
As for direct deposit, we NEVER have charged for this. Never. The SBBT fee is imposed only if you elect to have your tax prep fees deducted from your refund rather than paid by credit or debit card. Almost all of our TurboTax customers pay by credit or debit card.
The reason you see a notation of something like "RAL" on your credit card statement is because SBBT uses this as their standard charge description. Although we don't offer RALs, other tax software providers and tax franchises do and many use SBBT for this service. A RAL will cost significantly more than our fee, but you'll get a LOAN (not your refund) in a couple of day (or faster).
The rebate issue has nothing to do with TurboTax vs. the competition or free vs. fee, it simply has to do with the fact that if you used a bank product in connection with the filing of your return, the IRS decided that you will receive your rebate by mail (this applies to all software providers/online services and tax preparers). The IRS made this decision based on very practical considerations and realities. I realize this decision is not popular with those who used a bank product, but it was a decision that the IRS made.
Had we all known months ago what we now know today about how the rebates would be handled, I'm sure all tax software vendors and tax practitioners would have done things differently.
I hope this addresses your questions and educates others that take the time to read this.
Bob Meighan
VP, TurboTax
FYI – I used TurboTax and elected to pay them for use of their software and Santa Barbara the additional fee for an early return. All of this was deducted from my tax return. I recieved my Stimulus check via direct deposit today. I bank with Navy Federal Credit union. I filed married with 2 kids but did not receive the expected $1,800. We got a little over $1,300. I expected less b/c I was in a tax free zone (Iraq) for 9 months last year. We made a killing on taxes and I knew it would be reflected in the stimulus check. Enjoy!
Scott,
When you received it DD, on your bank account is it from SBBT or IRS? Im just trying to figure out how so many are getting DD when according to Turbotax, IRS and SBBT they should be getting paper checks. I am one of them and it would be great if we got DD and didnt have to wait for a check. Did you file any different or call to update your info?
Just wanted to add a quick note for those of you who filed using Turbotax…if you have a copy of your federal return handy you can look at the bottom of your federal carryover worksheet and see the estimate of your rebate. I did not notice this until now and it wasnt on my original return as I filed before the stimulus act passed. But if you go to Turbotax and reprint your return it should be there. Just a little note for those of you who are confused and concerned about how much of a rebate you will get.
Thanks Crystal. I never noticed that either. Like you said, it was on my original return.
If you used SBBT and got your rebate via direct deposit, please call SBBT (877-908-7228) and give them your information. Tell them to escalate it to Doug B per Bob Meighan. We are trying to determine whether this is really happening because the IRS and SBBT are saying it cannot happen.
Thanks.
Bob Meighan
Bob, if it is really happening, what are the chances that everyone that went through SBBT could get direct deposit?
Bob, why cant it happen isn't that a good thing? Hopefully everyone will get lucky like Jocelyn. I received mines today and i filed with H&R BLOCK. So it is possible I guess.
Crystal,
It says it came from the US Treasury.
It's great that we have these exceptions. However, based on what the IRS and banks are telling us, it's not supposed to happen. Something doesn't make sense and we still waiting to actually confirm a real situation. We've had reports of it, but nothing has been called in for confirmation.
something curious too….My REFUND was DD by SBBT and my REBATE was DD by the US government
Bob Meighan,
Is it possible that the IRS isnt catching on to the routing of payments to the third party so they send it to them (SBBT for example), When it reaches SBBT the computer automatically kicks it back to the IRS with the bank info they have on file for the actual account, and then the IRS submits it DD. I dont know but there are alot of reports of this happening and Im just trying to understand it myself. I hope I do get it DD but I dont understand how that can happen. Or is it possible that the IRS is contacting SBBT for the actual account info…its all very confusing. And how are people getting checks already? They were supposed to start today mailing them so how would anyone get theirs Wednsday? What is going on and why am I not one of the lucky ones getting DD…LOL???
Jocelyn,
What are the last two of your social? Im assuming you had the fees deducted from your refund if you used SBBT.
Man, it would be so nice if I were a lucky one. I'd love to get my rebate DD right about now, but of course – TT here and I had my fee's taken out of my refund. So, I'm expecting a papercheck.
About the original return, I filed taxes in January and got them DD. My stimulus rebate amount should be on the front of my original? I'm not finding it. I guess because the stimulus act wasn't even thought of yet.
Oh well, knowing my luck, my papercheck will probably be lost, too.
I have a question for people that paid their fees upfront. If I had pay my fee upfront for using turbo tax and chose to have my refund Direct Deposited would I have paid $30? If I recall correctly when I used the software and chose to e-file it automatically jumped to a screen stating to have fees taken out of the refund. How did you go about e-filing and not using SBTT. The software by default always went to this screen which led me to believe this was the only way to get your money direct deposited. I also read that some chose to elect paying the turbo tax fees via credit card. For the users that don't have Credit Cards could they have used a Visa Check Card instead? It acts like a credit card but funds are taken out of you bank account. I've been a happy Turbo Tax customer for many years, but if I can get out of paying extra fees such as paying SBBT to setup a temp bank account then I am all for it. Please do tell the process to which I could have gone with e-filing and not paying a $30 fee.
I just read this from the SBBT terms: 3. No Requirement To Have SBBT Process Your Refund In Order To File Electronically. You understand that SBBT charges a refund
processing fee to deduct Intuit's fees from your refund. You further understand that your tax year 2007 federal income tax return can be
filed electronically, and your IRS refund direct deposited, without using SBBT's refund processing service by, instead, paying the applicable TurboTax filing fees to Intuit by credit or debit card at the time you file your 2007 federal income tax return. This qualifies me as a dumbass as I didn't read the fine print. Next year I'm paying upfront. I should have known better. Not too mention a stimulus check not being DD. I should have receieved it yesterday. I guess I'll have to wait until June 6 for the paper check.
My husband and I also used TT. We had the fees taken out of our refund and chose DD. Now, I've been doing alot of reading concerning this situation. It seems that it all boils down to how the original deposit reads on our bank statements. I looked at mine and the deposit shows something to the effect of "RAL DEPT". What I do not understand is this.–Other customers took the same route and their Federal return was a deposit was from The US Treasury. Can anyone explain this?
Needless to say, we did NOT receive our stimulus payment per the DD schedule. However I see that some did. Are you suggesting that these people are lying Mr Meighan? Quite frankly I believe them. I do not care that TT,SBBT and the IRS claims it is impossible. There is CLEARLY a loop hole somewhere that has been overlooked.
I'm stuck in the same boat as everyone else here…and anticipated $1200 in my account yesterday. I had not heard from ANYONE regarding how using TT would affect my rebate. So, now have no $ for food or gas until Thursday. My concern is this…we're all finding out about this somewhat after the fact — in terms of when we anticipated receiving the funds via DD. I'm a huge peruser of the local, state, national and international media and am surprised there has been nothing out there in the news about this. It seems to me that once TT and the IRS figured out there was an issue here that literally affects thousands of Americans, there should have been a press release to let everyone know. I know I sure would have planned better. One also has to think of those who still haven't yet hear about this problem and who are think they're getting their rebate in the next round next week. So, while no one TT, IRS or otherwise has really done much prior to now to share this information with consumers, no one is STILL doing much proactive to get this information out there. People aren't going to start looking on the IRS or TT FAQ's until they realize their money is not in their account.
Crystal… It is highly unlikely that anyone will see their rebate direct deposited if they used a bank to pay their tax prep fees. While I have read postings that some have, SBBT and the IRS have not confirmed a single case and I have made repeatedly postings asking people to call them in for confirmation. None yet. However, some taxpayers have already received their mailed rebates because the IRS is about a week ahead of their published schedule. That's why some paper checks are in taxpayers' hands.
James… SBBT is used ONLY if you wish them to pay your fees out of the refund proceeds. TurboTax NEVER charges for direct deposit. Never. If you go through the interview screens again (not the SBBT license agreement), we give you the option of receiving your refund via check or direct deposit. The SBBT is a separate part of the interview and we do not default payment to SBBT. So, I regret it if you believed you had to use SBBT for a direct deposit. We certainly don't want customers believing that. The vast majority of TurboTax customers pay be credit or debit card. Save your money and use a credit/debit card.
Kris… The IRS issued a press release on May 7 concerning how rebate payments would be made. As I've stated multiple times in this thread, had we known during tax season what we now know, we could have done things much better in terms of disclosure and telling you the implications of your choices. See the IRS press release and FAQ at:
• http://www.irs.gov/newsroom/article/0,,id=182734,00.html
• http://www.irs.gov/newsroom/article/0,,id=182735,00.html
Bob Meighan
VP, TurboTax
You guys…I think one of the best things people can do is email their federal and state legislators and email the White House too. This really was unexpected and I suspect hurt a lot of people financially — at least in the short term. I don't think anyone anticipated this would be an issue, but again, I'm concerned that no one is being proactive on this and notifying more American taxpayers through the national and local media.
Bob Meighan,
I've received my check via DD. I used both TT and SBBT to get my refund quicker. Some are saying it hasn't been confirmed yet but I am telling you, I already received mine yesterday. The bank (Navy Federal) had the money on the 8th and released it on the 9th to my account. Either way, I happy with the effeciency of both the IRS and TT on this one. Of course, I am one of few apparently that didn't have any hiccup.
Im telling you what i know. myself along with a couple other friends and relatives used the same site and sbbt to pay for our fees and one person said she did receive her refund direct deposit and i know shes not lying because i did her taxes for her. So if the irs and sbbt are telling you this cant happen then they are lying. Explain to me how this happened and her last two didgits are after mine and my response on the irs website says in sorry we cannot provide you with specific information about your acct. Now tell me why all the confusion. There needs to be a logical explanation of this.
I used SBBT and TB, I thought I was suppose to get my refund DD yesterday. I am a little pissed off. I think the whole situation sucks, and nobody truly knows whats going on!! Why are some people getting them DD, and others arent? Its just ridiculous, why does the goverment, and the IRS have to make everything so damn difficult? Why not just have everyone get a paper check or vice versa DD. It would make the situation a lot easier. Theres so much confusion as to whos getting DD, and whos getting paper, its just plain stupid!!!!!
I used turbotax, paid by credit card and had my refund direct deposited to my account. I SHOULD have had check BY May 9. It is now 6:30 PM CDT on May 10. NO check or direct deposit in sight. Another screwup by big government and people seem to want even bigger government!
Bob,
I understand what you're saying and have been saying. However, I'm not sure what venues the IRS used for their press release on May 7th..besides which…May 7th is a little too late to be telling those of us who were expecting the funds last week and this week. I saw absolutely nothing in the news about this. The only reason I even found out about it was because someone made a comment on the TT website and the only reason I was on the TT site was to get my tax information so I could check on the IRS website to see why I had not yet received my rebate. I am not really faulting TT because I undertand you all were caught unawares on this too…but May 7th is really too late for those of us who were expecting funds by May 2nd and May 9th. There was no time to react financially — especially those of us who are paycheck to paycheck.
Melinda,
Go to turbotax and sign in. Bring up your refund and the rebate amount should be listed on the worksheet at the bottom. It wasnt on the original but I printed it last night and it is there now.
I went to the the turbo tax customer support help on their program. There it has a place in the right collum "where is my stimulus check? you click on that and that is where it stats. Due to Turbo Tax using Santa Barbara Bank as a third party to do direct deposit the IRS cannot do direct deposit and you will receive a papercheck. This is something that Turbo Tax should have sent out an email to all stating this and then maybe people would not get so upset. However, once again Turbo Tax screwed up because it took them 7 weeks to get my return back even though I did direct deposit through them. This was due to a college credit and a new rule out that the IRS wouldn't even review the return until February 11th and have up to 2 weeks after that to accept it. Turbo Tax (Intuit) needs to learn a key function of "communication" to keep their company from receiving so much grief. On another note if you use the free Turbo Tax filing online you would get the direct deposit because 2 of my coworkers with close to the same last to SS numbers got theirs on the 9th of May as scheduled but I didn't because I bought the program and filed electronically through them.
So buyer beware and lets hole Intuit responsible for lack of professioanl actions and poor communications to their consumers.
Crystal what line is it I dont' see anything
Laura,
Its listed on my return on the Federal Carryover worksheet…item #29.
I just want to say it has been good for me to read your posts and see I am not alone right now is this tight tight economy. I work full time , i don't overspend , do with out and still we barely limp to the next paycheck. It is unbearable sometimes. To read your posts and see other really decent good people know exactly what I know helps. You have no idea.
All I have to comment. God Bless you all
I would rather have Turbotax or SBB&T to have my routing number than the IRS…did you really think a government operation involving billions of dollars would go glitch-free? I hope the presses are warmed up…
Scott… I'm glad you're happy with TurboTax. But just to keep to the facts, using SBBT doesn't speed up your refund. SBBT simply allows you to pay your TurboTax fees using the proceeds of your refund.
Val… The fact that the IRS did not have their systems updated to reflect the new legislation was disclosed in the TurboTax. We mentioned in the interview that if your tax return included information that was not yet ready to be processed by the IRS, your return would be held until such time that the IRS updated their systems. This was also prominently communicated in all media. Please don't blame TurboTax for something that was clearly out of its control. Our software was completely up-to-date with this legislation, but we had to wait for the IRS. Same for this rebate situation. The manner in which the rebates would be processed was not known at the time TurboTax shipped. We're still learning about exceptions.
I am still waiting on someone to contact SBBT with information that will confirm the case where someone used TT, SBBT and got their rebate by direct deposit. I can see postings to that effect, but I still have no confirmation. If you want some answers to this, someone please help me out. Without it, the bank and IRS cannot explain why this would happen.
Bob Meighan
VP, TurboTax
I don't appreciate your comments about Turbo Tax or SBB. They had an obligation to inform people who bought and used their products to file their tax returns about the stimulus payment issue. Don't try to defend yourself when you don't have all the facts. The facts are Turbo Tax did have and so did Santa Barbara Bank as I went to both of their sites and it stats it right there that you will be receving a "paper Check"
So communication is their fault and there will be thousands of people angry.
Also, don't tell me the media was aware because i called them and it was news to them and are contacting intuit to get the full story.
enough of this if you don't like what I have to say fine everyone is entitled to their opinions but make sure you have the facts before spouting off.
My only real problem was that turbo tax sends me emails almost every month with turbo tax updates and other useless information. The one time they had information I would like to have, they hid it on a secondary webpage on their site.
I went to check for my payment on the 9th and of course it wasnt there. So I had to go search around all over to find out why it wasnt there. Turbo Tax could have avoided all of this trouble by simply mass emailing their customers and keeping them up to date.
Why they didnt do this? I have no idea, afraid of bad publicity or potentially looking like they are idiots. Regardless, I wont use them next year, I cannot trust a company that doesnt communicate to it's customers about important real dollar issues.
Crystal, thanks for the federal carryover tip. I had filed before the stimulus was passed but I just reviewed my return and the information is there now.
You know – after I read the above comments, I feel better, at least I was not the only one who used turbo tax and elected direct deposit and expected my rebate to be in my account this weekend. I thought something was wrong I just didn't realize it was this big. I do not know who the fault lies with and I am not really sure I care. I don't remember turbo tax using a third party bank in the past for direct deposit. Although I have not had an issue with turbo tax, I will not use them in the future due to turbo tax using the third party bank who apparently altered my tax forms and entered their banking info. I wonder if the irs tax info matches what I printed from when I did them on turbo tax. If they can change the bank info, can they change other info? Now what happens if there are questions about something on your tax forms and you truly did not do it but it was changed by the third party? Wow – makes me rethink using turbo tax for that reason alone.
Val… Yes, our site has been updated based on the latest information available to us.
Crystal, thanks so much for the info!
I just think this whole stimulus was a great idea in the beginning, but i'm sure it's really hurt a lot of people that do have to struggle from paycheck to paycheck. I know my husband and I were banking on our rebate on May 02nd, but after not recieving it DD on that day, I knew we were screwed, to say the least. He insisted on my bday gift, which was on May 01st, because we just knew we would be getting our rebate on May 02nd, so everything would fall right into place like it was suppose to.
Needless to say it didn't, and now, paycheck to paycheck, is an understatement!
My fault for counting our chickens before they hatch, however, the government did not fully think this thing through. They should have taken another month or so and thought out the details and got things straight…but thats only from my point of view and two cents that really means less than that.
I mean, honestly, it is what it is.
Hopefully, sooner or later, it will be here.
Bob, i have found your information to be very useful. However i donot blame tt or sbbt. The real issue is that the irs didnt decide to inform us of the changes until well after people were expecting their checks or a couple of days before. There seems to be a new issue at hand now. Why are people who all used the same tax preparer system receiving different things. For example…ihave ss# less than a couple of people who filed and they have some sort of info. The irs claims to be issuing payments according to ss# and i find that to be untrue. How a person receiving a paper check with last two didgits ending in 45,53,55 be receiving a check before someone with 31 or 39. Im not asking you for the answer because clearly you dont work for them but just explain. The irs needs to make the public understand exactly how they are going about this. To tell me some may require more time to process is bull. I filed in early feb and you cant tell me you hacent processed my refund in all this time because it clearly stated on their wheres my refund that your return is currently being processed before they even issued my deposit to sbbt. So again why all the confusion. If im correct all of these people with numbers after mine are not scheduled to receive paper checks until june. So how is it that they are receiving scheduled payments this week. The notice clearly states this and this is not hearsay. I have read them for my self. Im sure im not the only person who wants to know why this is. If anyone else knows anyone in the same position let me know.
Cyrstal and Bob,
how is it that the stimulus information shows when I sign into TT BUT not on my hard copy on my hardrive PDF format? I received my refund on 2/8 so none of this was approved until after~ I heard people are receiving there Stimulus by check already?~~ Has there been ANYONE who said they got dd when using SBBT~
LG
I believe every single Turbo Tax user should petition this mess. Turbo Tax should be liable for altering our tax returns, it should be considered a crime because there is nothing in writting that says your account will be changed to SBB&T. Im going to file a law suit over this. Turbo tax turned out to be Turbo fraud
Laura a friend of mine got a direct deposit and she used sbbt and i know because i did her return for her. She recieved her payment on friday and according to irs and sbbt she should have received a paper check sometime in june. I still dont know how they are going about this, but it appears to me that they are just pulling returns and processing the payments however they choose. Whats the point of posting a schedule when your not going to follow it.
Just wanted to admit that I'm a dummy. However, I do know that you're would have worked better in this sentence:
Your paying $30 to Santa Barbara Bank & Trust to “loan” you the money for your TurboTax payment. Your tax refund then goes to Santa Barbara Bank & Trust and then they send you what’s left over.
Jim,
Your, err I mean, you're correct. Thanks!
Laura,
Im not sure exactly how it worked but I also received my refund on 2/8. On the copy I printed then it said nothing of the stimulus but when I re-printed it the other day it was there. Who knows???
I'm going to jump in here and try to help make things clear from some people. SBBT ONLY gets involved in your tax refund if you chose to have your preperation fees taken out of your refund amount. TT does not use SBBT as part of the DD refund process. I have always in the past paid my fees to TT with a credit card and my DD was done through the IRS. ONLY if you choose to have your fees taken out of your refund, does SBBT then get involved. Bottom line folks, just pay for you prep fees with a credit card in the future and you can avoid a third party being involved.
Second, with billions of people is this country and both human and computer error ineveitable, I don't think it's so strange that some people have gotten their rebates DD even though they used SBBT and most haven't. Stuff like this happens.
And third- and I know this is going to piss people off, but I include myself in this, this rebate was just announced and 4 months ago, none of even knew we were getting this rebate so to depend now so heavily on this money is not wise. I know it's annoying to hear but we should never depend on a rebate or refund as 'usable' money. You shouldn't expect to get a tax refund, you should expect to break even so to speak. If you get a refund, great, that's EXTRA money for you. Same with the rebate. It should be looked at as EXTRA money, not dependable money like your income. I know that's harsh but I for one need to adopt that attitude too because then I wouldn't be so disappointed in not getting my rebate DD like I had expected. I'm happy to be getting any kind of rebate. Is the communication from the IRS poor? You bet! But is this new? NO.
Bob- I will use TT again because I think it's a pretty good tool and it's cheaper than getting my taxes done by an accountant. I think TT too was not communicated to properly by the IRS to consequently was not able to 'organize' things the way they would have liked to. And in the IRS's defense. They know how much the economy sucks and they probably knew that once they announced this rebate, people would be salivating for it NOW and so they rushed to get money out to folks ASAP and because of that, lots of miscommunication and glitches followed.
Again, I'm happy to be getting a rebate at all and I'll wait patiently for the check to come in June.
Hope I didn't offend anyone too severly.
Nikki
Its so easy for you to say the right words, congratulations, but saying what you just said I guess it would be wise not to prepare for an earthquake if we dont know when one will strike right. 2 this is not extra money for everyone, there are poor people who struggle and looking foward to receiving this money, and you hoping you dont offend someone seriously is like me robbing a bank and hoping they dont miss the money. Only a pompus jerk would say something like that.
Erik-
Let me rephrase what I said then and I'll make it more personal. I have learned that I cannot depend on any tax refund or tax rebate because I don't will never know for sure that I will receive one or how much it could possibly be. So I am learning to never count that money as 'certain' money, if that makes sense. I just wanted to offer that thought to others too so that maybe if they don't count on a tax refund or tax rebate such as we are getting, it won't cause them undo stress financially when they don't receive that money because they weren't counting on it in the first place. Hope that makes sense. And I'm truly not a pompous jerk, I really didn't intend to offend anyone. I hope that your rebate money finds you soon.
Nikki, Laura, Twanda… Your printed return (PDF) on your computer shows nothing about the REBATES because the legislation wasn't even passed when you filed. In other words, there was no rebate program at that time. However, we updated TurboTax when the legislation was passed and so when you went back to TurboTax you would have gotten an updated printout showing the rebate information. I believe the fact that rebates weren't passed until the middle of tax season (and the details of how they would processed until almost the end of tax season) is something that many of us overlook.
As for why we haven't done a better job communicating this issue… For many of the affected customers, we did not have in place a "rebate indicator" to quickly respond to these people. Yes, we know who our customers are but we may not always know whether a specific situation applies to you. We have privacy laws that prevent us from arbitrarily going through tax returns for stuff like this. We do have other ways of getting the necessary information, but it is much more labor intensive and it is something we are working to get. Had we known at the beginning of tax season that Congress would be implementing rebates, we could have fashioned a communications mechanism that timely advised you of everything you wanted to know about your rebate.
I hope this helps explain some things.
Bob Meighan
VP, TurboTax
Thanks Bob. Im not disputing anything about tt or sbbt. I understand perfectly. If im due a rebate great. I just dont understand how some can receive dd using sbbt and others not when we used the same software and paid fees with our return and also how could numbers after mine be receiving a check this wk when according to the posted schedule they should be issued in june. I know you cant explain but just think about it. How much since does that really make? Does anyone else know of others who should be getting paper checks after them and are already scheduled to receive payment?
Twanda… I can't explain some of the anomalies we've read about here. They do not make sense to me, to the IRS and to SBBT. That's why I'm asking anyone who used TurboTax, paid using SBBT and received their rebate by DD to please contact SBBT at 877-908-7228. That will help us understand what is going on. If you do call, pls tell them to escalate your issue to Doug B per Bob Meighan.
Bob Meighan
VP, TurboTax
Bob,
I know this forum is regarding those who utilized a 3rd party bank for RACs or RALs. But what about those who owed taxes and had tax payments ACH'd from their checking accts? After I had specified the acct info for direct debit, I was also asked for the acct# to which to have the rebate DD. The acct# was the same. My federal tax was e-filed on april 11th and the payment was debited on april 15th. My husband's SSN ends in 37 which means we were to have the rebate DD by May 9th. No money has been deposited and the IRS' "Where's My Stimulus Rebate" tool did not have any available info today. Due to my situation, am I too, to receive a rebate via mail?
Thanks.
Well, we did Turbo Tax, paid upfront the fee and our main ss is 96, I just checked and FINALLY the irs.gov site said our check for $2100 will be deposited in our account on May 16th. That's right on target to the IRS site. And the amount is just what I had expected though for awhile after reading everyone's I thought the full amount was too good to be true. Well I will see on Friday if it goes through but I can tell you that it wasn't showing up on the site before and now it is, so I am sure the deposit will go through when it is supposed to.
Hope this helps some that did Turbo Tax with fee paid upfront and they were wondering if they would get direct deposit or not.
I agree with Twanda. I work with someone who used TT and her numbers are 54 and she filed an amendment. She is getting a paper check on the 16th. My husbands numbers are 23 we filed using TT in early Feb and we still do not know when we are getting ours. I don't think anyone really knows when they are going out. I guess we will get them when we get them. It just sucks that nobody knows for sure when they will be in and you can't get an honest answer from anyone. Sounds like the government doesn't it…lol
basically, the IRS is a mess. how about not having to deal with the irs at all? has anyone heard about the Fair Tax? please visit fairtax.org and give the idea some serious thought. it may not be the absolute perfect plan and I'm sure many people will come up with arguments about why the fair tax is "not right for them" but I have done a decent amount of research and I believe the fair tax is the best alternative to what we have now…which is a mess.
[...] I don't think this issue is unique to TurboTax. However, many readers seemed to be affected and many of them left their questions and concerns in the comments section of my first article on TurboTax stimulus payment questions. [...]
Erika…The issue here is not for those individulas who filed using turbo tax and paid the upfront fee. To me that sounds like you paid on your own and not with your refund. The issue is those filing with turbo tax and having sbbt deduct their fee from the refund and have received a direct deposit. We want to know why this happened when the irs and sbbt tell us this could not be.
Bob,
Has anyone spoken to you dd using SBBT yet? All those who claim hmm I wonder.
What I see is really making people mad is the "not knowing" exactly when the rebate is coming or how much. You would think that there would be something they could tell people. We have such a variety of computer programs it should be able to be done!
Okay, heres a 'doozey' for ya…
I just checked the stimulus rebate payment info…and it's FINALLY said that we will be recieving our payment VIA MAIL (duh) May 23rd.
NO Big SUPRISE there…
However, I typed in my husbands SSN (his was primary) and our info and it said
"Your total Stimulus payment was calculated as $1,200.00 and consists of the following:
Basic Amount: $600.00.
Qualifying Child Amount: $600.00 (Based on 2 qualifying children)."
However, he and I are married…so why are we not getting the basic rate of 1200 for a married couple? Heck, our AGI was only around 50k for the both of us together. So we qualify for the 1200$ married reabte…
… OK OK OK …
So, I decided to see if my little 600$ check, that i will be in desperate need of…am in desperate need of will be coming seperately, for some dumb reason (have no idea why because we filed married – jointly, but who knows, it's the IRS …
weird thing is…I typed in MY SSN, family of 4…married filing jointly yada yada yada… and it comes back under my SSN
"Your total Stimulus payment was calculated as $1,200.00 and consists of the following:
Basic Amount: $600.00.
Qualifying Child Amount: $600.00 (Based on 2 qualifying children)."
So what in the world does this mean?
Does this mean we're only getting 1200 bucks … which will make NO sense if its a basic rate of 600 and then the kiddos…I can understand if it was 1200 for the couple and nothing for kids, but its totally opposite…MAKES NO SENSE…
I have no idea…its going to P ME OFF if they say we made too much money for a married couple filing jointly with 2 kids!!!!! We're together on this. My husband and I…so why are we only getting 600$ for both of us together?????
UGHHHHHHH
Laura… I have not had a single person call SBBT yet that used their service AND received a rebate by DD. I'm skeptical (just like the IRS and banks) that any really exist, except by a one in a million cosmic accident.
Melinda… Your rebate amount doesn't make any sense to me either. I know the IRS will withhold money if you have back taxes, unpaid child support payments, delinquent student loans, etc. However, I doubt these apply to you. Wait until you actually see the money before you start troubleshooting the issue.
Bob Meighan
VP, TurboTax
Melinda,
How much did you actually pay into to taxes this year (not what was withheld)? My husband and I dont qualify for the full $1200 either because we only paid $533 in taxes. It is based on your tax liability.
Melinda…you and your husband only qualify for the basic amount because you didnt have enough net tax liability. To recieve the 1200.00, your liability needs to exceed the maximum in order to receive the full amount. I think our biggest problem here is that we dont read or if we do we are not understanding. It says up to… not that you will receive. I think the irs has done a good job answering a lot of questions except the one that remains…How can individuals with number past 30 who filed and had their fees deducted from their refund be receiving a paper check already when the schedule says june?
Whoa now, wait a minute. He and I both had together over 5 grand held out of our checks at the end of the year. We both chose the "married but hld the single rate" or whatever it is and plus on top of that we held an additional 10$ out of every check. He and I both worked, the entire year. We just have jobs that don't pay too much because we live in arkansas where the cost of living isn't like most states. But, yes, we've held so much out for taxes.
It doesn't make sense to me, but when I showed this to my husband, last night, he said the same thing, Bob. Just wait until we get the check then go from there.
But like all of us, 95% of america…we have worked so dang hard this past year…and are told one thing at the beginning about the stimulus…get our hopes up because it is so hard living today with the way things are and BAM, someone throws a brick and shatters the 'dream' we're in?
Oh well…i'll just wait and see.
Have all of you gone to calculate your refund use the tool where you add the information from certain lines on your 1040 or whatever form you used?
Melinda,
The way you listed your info makes it sound like your husband is getting $600 and you are getting $600 resepctively, each under your own SSN. That's $1200 total. Then it sounds like you are each getting additional mondey for your kids. I may have misunderstood your message though. But it sounds like each of you (you and your husband) are getting a rebate under your respective SSN. No?
That's what it sounds like to me…if thats the case, then thats ok, too…but i dunno. it doesn't matter lol
as long as i get what the irs said i would get, i'll be ok =)
It's frustrating because every rebate amount they 'quote' is an estimate. Hard to know what one is supposed to get!
If I have understood things correclty, as a married couple, you should together get a rebate of $1200 and then I thought it was $300 for each child in the household. It sounds like that is what you are getting. Maybe even though you filed jointly they still list the rebates spereatley like that, one for each SSN. Sounds like you should be getting it soon so that's good!
If you used TurboTax, I suggest you go back to your return and see what TurboTax has computed for your rebate. This should tell you the right number (other than if you have outstanding back taxes, unpaid student loans or child support payments). These latter items will be taken out from your rebate payment by the IRS.
By the way, if you used the CD version of TurboTax, make sure you update the program.
Bob Meighan
VP, TurboTax
Bob,
According to the TT website, Intuit was aware of this problem when they received the full text of the passed law back in March. I'm going to make the leap here and guess that your governemt affairs folks were aware of this when they looked of the drafts of the law.
Given that, can you answer these questions that I've seen people ask on the TT website, but no one will answer?
1) Why did Intuit not clearly disclose to its customers that filed in March or April that choosing the SBBT option would disqualify them from receiving a DD rebate check (despite your push on the website to enter our DD info so we could receive our rebates)?
2) How much money did Intuit stand to lose if even a percentage of their customers paid with credit cards and avoided SBBT so they could get their rebate on time?
3) Given that Intuit knew well in advance, why did you choose to let customers find out for themselves the hard way? Why was their no email to customers?
Intuit's 10-K filing last year showed tremendous revenues. You're a huge company and the largest processor of electronic tax return filings in the US. Do you really expect us to belive that you were taken this off guard by the IRS? Your more cynical customers might be led to believe that your lack of communication to your customers was solely based on the potential revenue loss that would have occured had even 10% of your SBBT customers paid with credit cards instead.
We have no back taxes, no child support, my student loans for college are deferred…but on my TT reprint that they updated said we were getting 1800 back for the stimulus rebate. But yeah, Maybe he and I are just getting our 600$ seperatly?
Again, who knows…but on 05/23 it should be mailed out to us…
How long do you think it should take for the mail/check to get to us?
Bob Meighan
VP, TurboTax
I am not going to make excuses for Turbo Taxes screw up. We all paid Turbo Tax for their expertise. I could have just done my own taxes for this kind of results.
Turbo Tax just wants to make excuses, instead of making good on their screw up.
Guy…
1. There were no drafts of how the IRS would be processing the rebate checks. The manner and timing of when rebate checks would be direct deposited or mailed were posted on the IRS web site as they were decided. In mid-to-late March, the IRS announced that taxpayers who elected to have their tax preparation fees deducted from their refund would receive their rebate via mail after direct deposits were completed. Just after the IRS provided this information, we posted it on our web site. The reason we did not contact customers directly is because we could not accurately identify affected customers at the time because IRS regulations restrict our review of our customer s' tax returns. Broadly contacting all 20 million people who filed with TurboTax (the vast majority of whom were not affected) would have caused more confusion and stress than any benefit it would have created. This was supported by many discussions with industry officials and the IRS. Since then, we have used other means (and a lot of work) to identify those who MAY be affected. Beginning tomorrow, we will be emailing those customers with the latest information.
2. At no time did we ever discuss how the rebate legislation/SBBT would impact our revenues. Whether a transaction is processed by SBBT or the customer pays with a credit card, we receive the same TurboTax filing fee. However, we actually face more risk when you choose to have SBBT process the transaction. Any time a taxpayer’s refund is denied or applied to other debts, we absorb the full loss. You obviously underestimate us if you think we would do anything that would compromise the trust we have worked hard over 25 years to earn from our customers.
3. See #1 for my response.
Finally, yes, we were surprised when we learned that these rebates would be flipped to paper checks.
Please know that we never compromise in doing what we believe is the right thing for our customers. We're not perfect. There are some things we could have done better and we'll continue to work this issue to the best of our ability.
These are the facts. As to your opinions, everyone is welcome to form their own based on the facts.
Bob Meighan
VP, TurboTax
Bob,
what will the point be to notify customers? Will it change the outcome of the refund?NO
It is already past that point, I guess if the email had been sent when we had the time to call the IRS and have the information changed then it would matter!
Hi guys. Just wondering if anyone has gotten information from the irs about individuals receiving their refunds out of order. You know some of had mentioned that we know of people who are due to receive their refund this week and have numbers that far beyond the schedule the irs claims to be using.
Laura… To my knowledge, there was no provision EVER for calling the IRS to change anything. So had we even had the chance to communicate this in April, nothing would have changed. While the communication may be late for you, many customers have not been following this issue and I believe would appreciate this information.
Twanda… I have not heard of rebates being processed out of order. I do know that some people have set their expectations incorrectly based on using the SSN of the secondary taxpayer (instead of the primary listed taxpayer).
Bob Meighan
VP, TurboTax
Bob,
This was posted!!!
If you need to change your direct deposit option the IRS says today is the last day to do it.
You can contact the IRS before the week of April 13th. That means you have rest of today to get it done.
Q. Is there something I can do to prevent my Stimulus Payment from being automatically deposited into the account that I identified for the Direct Deposit of my regular refund?
A. Generally, if you designated Direct Deposit on a tax return, then the Stimulus Payment will go to the account number you designated. If the account number is no longer active, the IRS will send you a paper check. Under some circumstances you can prevent the payment from being automatically deposited.
If your regular refund has been deposited into your account via Direct Deposit and you contact the IRS before the week of April 13, the account information can be blocked to avoid the use of Direct Deposit for your Stimulus Payment. This will result in the issuance of a paper check that will be mailed to you.
Laura… I'm sorry. I thought you were asking whether by contacting the IRS there was a way to change from paper check to direct deposit (for example, those who used SBBT and wanted to change this to force a direct deposit). The answer is still no. Again, to my knowledge your contacting the IRS would simply have blocked the direct deposit and forced a paper check. There is no way of changing to a direct deposit if your tax return by default was set to paper (like if you used SBBT). I hope I explained this well enough. Bottom line is this. If you paid your fees from your refund, calling the IRS would not have allowed you to specify a direct deposit. Yes, this is confusing.
Bob Meighan
VP, TurboTax
Bob.. Im not sure about that. I have a couple of friend and relatives who all have ssn after mine and are due to receive a paper check this week. Its not hearsay, I have seen their notices. Im just asking if anyone had an idea from the irs how this happened. The are single filers with no husbands or anything and so their ssn would be primary.
I have a question, my husband and I filed jointy through turbo tax, his ssn is first,Will they go buy his or mine? Thanks
Twanda… Here's an explanation that might explain some inconsistencies we're seeing and reading about. The link below refers to an article in the Chicago Tribune reporting some problems with the rebate checks.
http://www.chicagotribune.com/topic/ny-listim0515,0,4165183.story
After reading that you're probably wondering what else can the IRS do wrong. Well, I actually am astounded at how much the IRS did well this year. Congress threw very substantial tax legislation at the IRS on Dec 26 forcing the IRS to rewrite many forms, introduce new forms, reprogram their computer systems, etc. after the forms had already been mailed. This was substantial rework. Then, they learn on Feb 13 that they're going to have to mail out 130 million rebate checks. While this may not seem like much, it is when you're dealing with 30 year old systems. Plus, the devil is in the details. A lot of credit goes to the IRS employees in spite of some of these mishaps. I hate paying taxes, but I also realize that it is the not the IRS who implements the laws. They simply carry out Congress' intentions.
Bob Meighan
VP, TurboTax
Danielle… They will go by his.
By the way, here is another good update on rebates from USA Today in today's newspaper.
http://www.usatoday.com/money/perfi/columnist/block/2008-05-12-tax-rebates_N.htm
Bob Meighan
VP, TurboTax
this sums it up perfect
But consumer advocates who have long opposed the use of refund anticipation loans, fault the tax preparation industry for the mess. Their issue is that refund anticipation loans are expensive and unnecessary for many taxpayers.
"The tax preparers knew," said Chi Chi Wu, an attorney at the National Consumer Law Center in Boston.
She said she doubts that tax prep companies told their customers. The center and the Consumer Federation of America estimate that tax preparers reaped more than $900 million in loan fees in 2006.
More than 20 million people took out refund anticipation loans or checks in 2006, according to IRS data. Wu said she's heard the figures will be much higher for this tax season.
"Small consumers get hurt, big tax preparation firms get rich," said Ed Mierzwinski, consumer program director with the U.S. Public Interest Research Group.
In addition to the delayed payments, some stimulus payments have gone astray.
————————–
never using turbo tax again
-anticipates a response from Bob VP of turbo tax saying turbo tax doesnt do RAL's when mine and 1000's of others deposit from SBBT via turbo tax clearly states "RAL deposit"-
give me a break..
Michael D… You're correct in suggesting that I will state for the record that "TurboTax does NOT offer refund anticipation loans." The deposit from SBBT that you received simply originated from SBBT's RAL department. They use one generic descriptor for all their tax related transactions. They do have a large business in RALs with other tax preparation / software firms, but not with TurboTax. Again, TurboTax does NOT nor have they ever offered RALs.
TurboTax customers can elect to use SBBT to pay their TurboTax fees from their refund. In this case, the customer agrees to allow SBBT to receive the refund from the IRS, pay us our fee, and then direct deposit the net refund into the customer's account. And just to clarify a point that has confused some… TurboTax NEVER charges to have your refund direct deposited. Direct deposit is an option for every TurboTax customer for no additional fee. We have never charged for direct deposit.
Thanks for allowing me to set the record straight.
Bob Meighan
VP, TurboTax
Wanna hear something funny? I used TurboTax, and did Direct Deposit, and paid the Fee with my refund. But the funniest thing is….MY SSN ENDS IN 99!! lol unlucky me eh
You know what sucks at times?
It's the fact that all these people posted that they have received their rebate checks whether it was DD or a paper check. Then there are those who claim to have gotten DD on their rebate checks regardless since they used TurboTax and went through Santa Barbara Bank & Trust.
Bob, the VP guy from TT even posted several times asking these people if in fact they did receive their rebate checks from the IRS that they come forward and report to SBB&T because there was NO possible way that it could happen. Well it turns out that not a single person that claimed this has called.
THAT in itself makes you wonder if the people that are claiming to have SS# in the higher numbers receiving paper checks already truthworthy. No wonder everyone thinks that the IRS is all over the board on sending these out. When in fact that's probably NOT the case.
It burns my a$$ when people come here or anywhere else on the internet and start spewing at the mouth things that aren't true.
Personally I haven't received my rebate check yet but it IS schedule to be mailed out on May 23rd. I'm waiting patiently just like everyone else is and for those of you that have posted false information……SHAME ON YOU for causing such mass confusion for everyone. If you can't play nice then DON'T play at all.
lol Trish, maybe those people did do as they claim and didn't call the IRS or Turbo tax in fear of being audited or something. I mean if I used turbo tax and ssbt, and then received my rebated via direct deposit, I don't think I would call either. When you call they might just say "hey there was a mistake and you have to return the check" yeah right like that will happen!
Trish…I agree with Cherrie. A couple of my friends have received their rebate check via mail and i know that they do have numbers past the scheduke the irs is currently working on. As for the people claiming to have received direct deposits, well they might be in the group of people who received someones else deposit as a result of a computer error. According to the irs these people should call because in fact it could be anothers tax payers money that was actually due to receive the rebate and has yet to do so.
First of all to not come forward if you did use SBBT and got dd it stupid. They are not going to anything for those people. PEOPLE NEED TO BE HONEST ABOUT HOW THE FILED THERE TAXES BEFORE CLAMING THEY RECEIVED DD FROM IRS USING SBBT TO HANDLE THERE TRANSACTION…..AND STOP BLOWING SMOKE UP ALL OF THE HONEST READERS BUTT…
Did the Free "my A@#" E-file on H&R Block's site. Lesson learned! Last to digits are 99. Kinda funny, I think.
I completely agree you all. To not come forward is about ignorant…I'm sure those people are either A) Lying … B) Lying … or C) don't give a rat a$$ about anyone else who is struggling and wondering where theirs is at.
Oh well…I dont' know, but this is just dumb.
I am another that paid the fees with my DDP. I would not be as PO'd if we had been told earlier. My partner was due his last Friday, I was due mine today…and TODAY we both got notices from TurboTax. I have had other issues this year with SBB&T and TurboTax and I would recommend that ALL that used it and are in this situation to post it on RipoffReport.com and use another software next year. I tried to contact TurboTax/Intuit, but they only want you to call you cannot email them. I want a paper trail on this in the event that there ends up being a class action suit against them down the line (which I will participate in if anyone starts one, I just won't start it myself). PLEASE post to ripoffreport.com and let them and everyone who checks there before using a service how unhappy you are.
I have been watching this unfold since I first learned about this debacle and given all the 'new' information that has come to light with the IRS sending payments that didn't include credit for children and even worse, sending payments to the wrong people, it's not difficult to see why someone would not come forward to contact SBB&T.
Here is what it would look like if I were in there shoes. Even if I was under the impression that I was getting a paper chack and not Direct Deposit because I opted to have my fees deducted from my refund yet received a Direct Deposit for the Economic Stimules, I would most likely thank my lucky stars and run to 1. buy groceries and 2. pay my medical bills. I would most likely not come back here to check on this until AFTER I had already done my share of 'STIMULATING' the economy. Then if I returned here to see that the TurboTax V.P. was making requests that people who received their money this way is urged to call SBB&T with our 'information', I have to admit, I would be skeptical and wonder what was up. Then after hearing that the IRS had sent out 15,000 plus refunds to the wrong accounts, I would be absolutely panicked at the thought that I may have just spent someone elses money and that they may come back and try to take it back but it wouldn't be there.
THIS is why people aren't calling SBB&T. I have NO idea how the IRS is going to handle this. People would really have no way of knowing that it wouldn't be theirs unless their is a gross difference in the amount. But most people never got the letter with the exact amount they will be getting or the 'Where's My Stimulus Payment' doesn't give them any info so they figure that when they get the deposit, if it's close enough to what they speculated, it must be theirs. It is a perfectly reasonable assumption. And the chances that people woudn't SPEND it straight away is slim to none! It is so badly needed that most households already have it spent so-to-speak.
I'll be very interested to see how the IRS handles this blunder. I'll probably feel very badly for the people affected since the IRS will care very little about what effect the consequences for their own mistake will have on these very unlucky people. I believe a pre-requisite to work for the IRS (or almost any government agency for that matter) is to be unable to feel or express empathy.
Well, there's my deeply pondered two cents. Let's all say a prayer that our Stimulus cheks find us sooner than later (and belong to us!)
~*Ü*~CHEERS~*Ü*~
Well, some of this is true. I mean if you were expecting a refund by paper and it somehow got into your acct are you really gonna stop, take the time to call the bank and say…What ssn do you have listed for my return? The answer is hell no. We obiously need the money. Some may be afraid of what is going to happen. I personally say, if they were due a rebate then let them have it. Send them a notice showing exactly what they are to receive and work the difference in the amout out, assuming if its more or less. Anyway all of us that has yet to receive a refund by paper should be happy. Think about it…Some lucky but unlucky person could have already spent your money and you still have to wait until the irs fiqures out who actually got whos deposit. So to be honest im happy to wait for my check to arrive in june
Dear Mr. Meighan,
I paid for my turbo tax fees with my visa. I also owed federal taxes which I paid for with my Visa. I got a very small state refund which was direct deposited. Based on the info. you've provided I should have still received my economic stimulus rebate via direct deposit which I did elect. My check was suppose to be direct deposited today. I went to the IRS web site and they don't have my information. What's going on? I too have used turbo tax for years, I use to work for Intuit and I have recommended this product to several people.
Thank you,
Kristy
My parents filed with Turbo Tax and have for as long as I can remember. They paid for their fees upfront and according to the IRS website they were to receive their Stimulus payment today. Our Credit Union always posts Direct Deposits a day early as a courtesy to its customers but when they checked yesterday it was not there. I spoke with them today and as of close of business today, they had no deposit. And I know with 100% certainty that they owe no back taxes etc that would prevent them from receiving their payment.
So they are yet another to add to the list of mysteries. They are very frustrated and angry. I don't blame them. I have had time to calm since I found out about this whole third party and altering bank information situation but it is now fresh for them like it was for me a a bit ago.
Truly a disappointment to say the least.
Krisy… It is very likely that the IRS had not processed your return by April 15 (give or take a day or two). The IRS' processing schedule is based on 2007 returns were processed (not just received) by April 14 (maybe it was the 15th). So if you submitted your tax return around April 15, there is a good chance your rebate will not be processed in accordance with the IRS schedule. That's also probably why the IRS site is not showing your information.
Heidi… Same thing. It appears that based on what you describe that your parents will receive their rebate by direct deposit. As for third parties, your parents paid by credit card so there would be no third party bank intervention. And just to set the record straight, no one has altered any bank information. For those that chose to have their fees paid from their refund, TurboTax clearly disclosed that SBBT would process the refund and then deposit the money in the taxpayer's account. This is standard practice in the industry and it is how all tax preparers, software vendors and banks do it.
All… The IRS recently announced that around 350,000 rebate checks were incorrectly processed. Yours may be one of them. You'd have to determine that with the IRS (visit http://www.irs.gov).
I hope this information helps.
Bob Meighan
VP, TurboTax
Same boat…filed with TurboTax for years, electronically filed on 8 Mar, owed $34, paid from my Direct Deposit account (same banking information I've used for years). Of course the IRS got their money in a matter of days. Near the end of the TurboTax electronic filing session the software specifically asked me if I wanted my stimulus payment sent to my Direct Deposit account on record…so of course, I said yes.
I checked IRS.GOV site and was expecting my stimulus payment deposited 2 weeks ago…and nothing. Called IRS, since their website said "no information available", and they said they pulled up my file and don't show me getting a direct deposit. They told me to expect a check by mail around 20 Jun. So I wait…
Working in the IT field and realizing how tough this must be for IRS systems guys…I'm trying to be empathetic. But my type-A side gets impatient when I feel I'm doing my part, doing my homework, but still being asked to wait.
Dear Mr. Meighan,
My tax information was sent on April 8th. I did receive a declaration control number dated April 8th. I received my credit card statement a few weeks ago and it was charged for Intuit fees and my federal taxes. I don't understand why my info. isn't even listed on the IRS web site over a month later. Does this mean I have to wait until July for my paper check now? I just sent Visa a huge payment to pay for my taxes because I was expecting my DD yesterday. I have the money to cover it, but this month will be tight now. Had I received proper communication, I wouldn't have made such a huge payment on my card. I wish turbo tax had sent an email re: problems with the rebate. Turbo tax does have my email info. A general email could have been sent out. It's been my experience that when problems occur people do get upset. I think people are more upset because of the lack of timely communication. I accidentally ran across this web site when I was researching my rebate. If you couldn't send out emails, then there should have been an announcement or link on the TT web site. There still isn't any info. on this site re: rebate problems. I would recommend putting something on your site so people don't have to waste more of their time trying to get some information. Unfortunately, I think TT is going to lose a lot of customers even ones who didn't have an RAL because of poor communication.
Kristy
Krisy… Your rebate should not be affected by the decision of the IRS to flip direct deposit rebates to paper checks. You did not use your refund to pay your processing fees. All this talk about rebates being delayed affects only those who paid their tax fees from their tax refund. You are not in this group.
As a result, you would have to contact the IRS. We have absolutely no way of knowing if someone's rebate is or will be delayed, especially in the situation you describe. The IRS has stated that about 350,000 rebate checks were improperly issued. Your might be one of them, but we wouldn't have that information. I'm at a loss to understand why you believe we would have knowledge about your rebate. We don't.
I hope you get your rebate soon.
Bob Meighan
VP, TurboTax
Michael… Pls see my earlier posts about why we were unable to communicate to affected customers earlier. Also, had you used another tax software this year, your experience would have been the same. This situation affects not only TurboTax customers, but all tax software vendors, tax preparers and tax franchises. This is not unique to TurboTax.
Bob Meighan
VP, TurboTax
Dear Mr. Meighan,
I still think TT for the most part is a good product. Unfortunately, I haven't been able to get through to the IRS. My small state refund wasn't enough to pay for any fees or taxes. Once again, I would recommend an announcement or link on the TT web site re: problems with the rebate checks. First thing, I did when I didn't get my DD is go the TT web site and there was no info. You've claimed you can't do emails, but I know you can put something on the TT web site so people don't have to waste more time searching for an answer. In addition, all other searches I have done on the internet are showing similiar problems for people who didn't have a refund and had to pay taxes. My neighbor who isn't even a citizen, out here on a Visa, filed after me with HR block-she had a refund and her rebate was DD yesterday.
Kristy
We can scream all we want about waiting. Let's get to the real point…Why did TT generate 1040 forms for us to review, print, and archive that were later changed (lines 74a,74b, and 74c) and submitted to the IRS? No where in the interview process did it indicate that the information would be changed without our specific knowledge or consent. What if other information had been changed? What could the consequences possibly be if the IRS were to come after us for information submitted to them without our knowledge. This is MISREPRESENTATION!
My hubs and I *thought* we were getting our payment on Friday May 16 – but we didn't. I spoke to a very courteous gentleman at the IRS Stimulus Payment hotline (1-866-234-2942)this morning and he explained that since we had our 2007 refund DD split into two separate accounts, we would be getting a paper check. I don't know if this helps anyone else or not…
Kevin, in answer to your question, I will give you my response from Mr. Turbo Tax V.P. when I questioned pretty much the same thing. He said (and this is a direct quote)
[QUOTE]Heidi… Same thing. It appears that based on what you describe that your parents will receive their rebate by direct deposit. As for third parties, your parents paid by credit card so there would be no third party bank intervention. And just to set the record straight, no one has altered any bank information. For those that chose to have their fees paid from their refund, TurboTax clearly disclosed that SBBT would process the refund and then deposit the money in the taxpayer's account. This is standard practice in the industry and it is how all tax preparers, software vendors and banks do it.[/QUOTE]
So pretty much the answer circumvented the real question which had to do with the changing of bank account information entered by us ('us' meaning those that entered their own banking information on Turbo Tax) and is saying that the information was in fact not altered (when it was, I spoke to the IRS) but rather just part of that dumb@$$ agreement for $u¢ker$ to bleed the extra $30 out of us less fortunate that were so desperate to get our money that we would rather feed the vultures $30 than have to wait longer until we could afford to file our own tax return. Now if that doesn't say that our economy is in a sad state of affairs than I don't know what does!
But getting back to the real situation, Turbo Tax may have transmitted our banking information alright, but NOT to the IRS like where we thought it was going. Instead, it was like a bad road trip – while the info was on the web highway, it was carjacked and by the time it got to the IRS, what they got was a knock off. Instead of the Hummer that should have pulled into their garage, they got the Bummer that Turbo Tax sent in it's place. Not nearly as fast and has more than a few glitches. Definitely not the precision automobile that you *thought* you sent to retrieve your moolah!!
{SIGH} Ah well, who needs those gas guzzlers anyway, right? ROFLMAO!! I figured we could probably all use a little humor (though at the end of the day the IRS still has SBB&T's acct numbers and not mine like on my 1040 and I still don't have my $$$. And I can guarantee that you won't catch me so much as let out a chuckle about that! >:{
Heidi, I needed a good laugh lmfao THANKS!!!
Some people who filed with Turbo Tax did in fact get a direct deposit stimulus check. My dad and my best friend got their direct deposits on May 2. So yes, some are getting their stimulus payments direct deposit. I was supposed to get mine on May 16 and it has yet to arrive by direct deposit. Maybe just the EZ's are getting direct deposit.
Heidi, Thanks for that. But no matter how much energy they put into some elaborate explaination of how we knew that a temporary account would be set up and our fees taken out, and how we should have known… The fact is that TT generated a 1040 with all the information that would be submitted to the IRS. We agreed with what was on the form and agreed to transmit it. Our bank information was on it. They changed that information afterward, without specifically notifying us of the change. They said they would set up a temporary account and deduct fees from it. They did not say that they would change the 1040 after we reviewed and archived it. So, when I review that document and it shows my bank information on it, I am being shown by TT that this is what has been submitted to the IRS. PLAIN and SIMPLE. If I know that someone will show me something to review and agree to, and that they will alter that information and submit it as a document I am submitting, then I will not do business with them again. PLAIN and SIMPLE.
P.S. I am stupid for paying someone $30 to duduct $30 and pay someone else. I won't make that mistake again either.
Bob…I know you and i spoke before about the abnormalies of the irs processing these rebates, but i think your were referring to the direct deposits. The glitch kind of affected those receiving dd. I still want to know if you have found any information on the people who are receiving paper checks not according to the schedule. Our discussion was previously. Now the the time is past for all dd, the paper schedule is being worked on. I still have ran into several people who are to receive a refund this week and all have ssn after mine. I want to call the irs like some other people and ask hey, wheres my stimulus but i know the wait time would be absolutely rediculious. This is for anyone if you have gotten a response from the irs explaining now how they are processing people not in accordance with the paper check schedule, please share that info with some of us who may still be waiting to receive some information as to where our check is
Kevin… I regret that you believe your tax return information was changed. However, as part of your choice to have the bank process your refund, it does state that a temporory bank account would be set up to accept and process the IRS refund. The balance would then be remitted to your account. If your bank account information had been sent to the IRS, there would be no way to have the fees paid from your refund. For the last at least five years, this is how it has always worked. Not just for us, but for everyone in this business. It's unfortunate that the IRS decided on the rebate processing action that it did (to flip direct deposits to check), but it did and it was only recently. I too wish we had more information on this early in the season to offer the disclosure that we all know now would have been great.
Bob Meighan
VP, TurboTax
Twanda… The IRS is actually about a week ahead of schedule on processing paper checks. Some of the same issues affecting direct deposit rebates are affecting paper checks (like misdirected checks, wrong amount, etc.). But in general, the paper checks are being processed in accordance with the schedule the IRS made available. By the way, I know there are some exceptions and a lot of postings by people claiming to get their rebate much sooner than scheduled. I am very skeptical of those claims (other than the exception cases the IRS announced) as I don't think everyone understands all the rules that apply and how those affect the timing of your rebate.
Have you checked out the IRS' site for self service tools on figuring out where your refund is?
Bob Meighan
VP, TurboTax
Yes Bob…As a matter of fact i have. The tool has no information for me. I decided to check today since some people told me that they got notices to receive their refund this week. It gives the me the same information stating that Were sorry we cannot provide specific information about your rebate at this time. If they havent reached my number yet thats fine. I know some people may be claiming to be receiving a rebate, but i do know of a couple of people who have actually received a paper check already and do in fact have ssn after mine. I think that the irs is pretty much know just processing these rebates randomly and i have yet to be picked n they dont have any new information posted on the website. Im sure im the not the only one who wants to know the answer to this
Bob, I am sorry that you regret that I "believe" my information was changed. It was. If not by TT than by SBBT. I did understand a temporary account would be set up to receive funds. Did TT and/or SBBT state that the information given to me, as a record for future reference and tax records, would be different when the IRS received it? NO. Plain and Simple. I am not here to whine about waiting for a handout. I am saying that neither TT nor SBBT stated that the information on lines 74a, 74b, and 74c would be changed. So a while back when I was concerned about this potential problem, I was reassured because I reviewed the 1040 that was generated by TT and it showed on 74a, 74b and 74c that the IRS will get that information. So now SBBT will need to figure out a way to use a temporary account while still maintaining the integrity of our tax forms.
Kevin… Even if the IRS had your account information on line 74, you'd still be in the same position. Whether or not YOUR account information is on this line, the IRS would still have flipped your direct deposit rebate to a paper rebate. The decision to flip your rebate to paper was based on the fact that you used a bank to process your refund not on whether line 74 is your account or the bank's temporary account.
Bob Meighan
VP, TurboTax
Maybe the information on the link below is not the full story then.
http://turbotax.intuit.com/support/kb/tax-content/tax-tips/6255.html
On this Web page it states the following…
"Because the IRS does not receive a taxpayer's bank-account number, under this payment method, it cannot match a taxpayer with that taxpayer's regular bank account."
Also, since we now have acknowledgment that information can be changed after we review and save the 1040 forms generated by TT for us as tax record, we should consider at least the last 5 years worth as possibly NULL and VOID.
The VP of Turbo Tax has explained (numerous times here) why people who opted to pay their fee from their refund are getting paper checks versus direct deposit, but I used the freebie version of TT, OWED taxes, and still did not receive my rebate direct deposit as I opted. I called the IRS rebate hotline today and they said they did show that I opted for direct deposit but that I was still scheduled to receive a paper check in July for reasons they couldn't explain. The rep said "they've been seeing this with a lot of Turbo Tax users".
Kellie… It all depends on when you filed your return. If it was before the legislation was passed and TurboTax was updated to reflect this, then there was no option in TurboTax to select direct deposit of your rebate when you had a balance due (as you did). I suspect this reflects your situation. Does that make sense?
Bob Meighan
VP, TurboTax
Bob,
Check it out, last comment.
Laura… If you're referring to the "they been seeing this a lot with TurboTax", it does make sense. We've seen a lot of misinformation given out not only at the IRS, but with the media tool. The details of how the rebate implementation would work have evolved over the last few months and that is why there is so much confusion. Nevertheless, I'll bet that many of these situations reflect the fact that people filed their tax returns before the rebates were even a reality and thus, direct deposit information for those who had to pay was not even a consideration. It just wasn't a reality at that time.
Bob Meighan
VP, TurboTax
I filed my taxes in Jan and had my dd 2/8/08 and I am being told – 1st time dd-2nd dd but that it was a 2 instead of one so it was snail mail~what that means who knows. I just can't believe that people who used SBBT are getting there Stimulus dd. Explain the ironey of that.
Laura… Anyone using a bank product to pay their tax prep fees is supposed to get their rebate in the mail. We do know that there have been some exceptions to this and some processing mix-ups at the IRS. But these are exceptions.
Kelly and Laura… Excuse my typos and mis-address on my 8:27pm post.
Bob Meighan
VP, TurboTax
Guys i think we have beat up on Bob enough. In my opinion he has been very resourceful. But hey thats me. I have come to the conclusion that tt and sbbt are truly not responsible for this mess. Had the irs not annouced to do dd we would at all have no clue as to sbbt setting up temporary acct numbers to receive our refund to take their fees and deposit the balance. If the irs would have just mailed all the rebates, perhaps they wouldnt have all the problems they are dealing with. Again if anyone has spoken to the irs and receive a logical explanation of how some individuals are receiving paper checks and the time has not come for their ssn, share it with me. Am i the only person who appears to be interested in this? Afterall there is nothing going to change with tt or sbbt. I think we all should be trying to figure out now is when exactly can we expect our rebate. To be honest guys… I think its now a lottery now. If we pull your return we will process ur rebate. No matter that its not time for you, but hey since we got it up here jus send them their notice of payment. You got to be kidding me. lol
After 3 days of trying to get through to the IRS, I have info. for those of us who didn't get a federal refund and had to pay taxes. The IRS is showing that I filed my taxes and my payment was posted (I owed money this year). However, that people who had refunds and didn't get an RAL or use their returns to pay their tax prep. fees are getting their rebates before those of us who owed and paid. They just started processing returns requiring payments in the middle of May (last week). I was told it will probably be 2-3 weeks and they will still DD my rebate and I shouldn't have to wait until July 4th. Tax returns with refunds are processed first because otherwise the IRS has to pay interest on this money (never heard of that one). Maybe this will solve a few mysteries, wish I had known about this before. You would think people who didn't get refunds would need their rebates more.
Bob-
You mentioned that there is info on the IRS website relating to the 350,000 checks that were processed incorrectly and that 'one of them may be yours', so check out their website to figure out if in fact one of those 350,000 checks could be one of 'ours'. But can you tell us exaclty where on the website one goes to use this 'tool'? I looked on the website just now and didn't find anything on their website, under the Stimulus Payment section, that discussed incorrectly processed rebates and how to figure out if your rebate is one of them. If you could possibly guide the readers to this, it would be greatly appreciated.
Thanks again Bob for continuing to field all the stones being thrown at you
Hi Bob – I filed on April 14th. And while I think it's great you're on here fielding all these questions, your reply "If it was before the legislation was passed and TurboTax was updated to reflect this, then there was no option in TurboTax to select direct deposit of your rebate when you had a balance due (as you did). I suspect this reflects your situation" is kind of calling me a liar in a polite way. I said I selected the option for direct deposit of my rebate when I filed because the option was in fact there when I filed, on April 14th.
But someone else in a latter post was kind enough to get more info from the IRS and apparently those of us who had to hand over a huge chunk of change to the IRS may still get direct deposit and just have to wait a few more weeks. So anyway, thanks Bob and Kirsty for posting!
2 HELL with BOB & TT. BOB, JUST ADMIT THAT UR COMPANY F&&^ED UP BIG TIME, & NO I HAVENT GOTTEN MA GD STIMULUS CHECK AS OF YET… JARROD PULLED UR HO CARD ON ANOTHER BLOG JUST LIKE THE REST OF'EM ON HERE DID. UR ABOUT 2 BE OUT OF A JOB!!! HAHAHA.. & FOR EVERY1, I 2 FILED BACK IN JAN. PAID WITH VISA CARD & GOT MY STATE REFUND DIRECT DEPOSIT & ALSO I DIDN'T OWE! SO WTF IS MY STIMULUS CHECK???? BTW, SSN ENDS IN 39! FOR NOW ON IMA TAKE MA ASS 2 THE LIBRARY & GET A FREE 1040 FORM & DO IT MA GDSELF & PAY A MEASLY 49CENTS POSTAGE! GOOD LUCK 2 ALL WHO GOT PLAYED BY TT & BOB'S LAMEASS EXCUSES!
Lolo… If you filed back in January, paid by Visa and selected Direct Deposit, then that is how you should have received your rebate. There should be no exception for you in receiving your rebate by direct deposit. I suggest you contact the IRS. TurboTax has nothing to do with the timing of when the IRS processes your rebate.
Bob Meighan
VP, TurboTax
Hey guys…
Well, my husband and I got our rebate in today…paper of course, however…remember way up there when i posted about only getting 1200$… Welp, we only got 1200$ and should have received 1800$ …
Basic amount 600 and then 2 quailfying children x 300 = 600$ … = 1200 ….
hello ding bats…*speaking to IRS* if you read the information correctly then you would have saw that we filed "married filing jointly" …
Anyway, Everything i legit on my tax info…and i do not owe the government. So where the heck is my 600$
Would be nice if I had it.
Melinda,
Shortly you should be receiving a letter from the IRS stating how much you were eligible for. We were supposed to get them before hand, but everyone I know got there's after, including myself.
Remember that it is "up to $1,200 per couple and $300 per eligible children." Your joint tax liability must have been over $1,200 in order to qualify for the full amount. And dependent children are only children who were 16 years old or under at the end of last year.
The IRS is who calculates your rebate, not TT or any other tax service. If you're not sure why you got less, try contacting them at the phone number they have listed for rebate questions on their website. Many people got less than they thought they would.
I received my stimulus direct deposit on May 8, but it was in the amount of 1733.00 instead of the 1800.00 it should have been. I dont make over 75000.00 income, and I dont owe any child support, student loans, nor back taxes. In fact, the IRS still owes me part of my refund… I filed my taxes in January and at that time I was told that the IRS was putting a hold on 128.00 of my refund because of some law that was being put through, and I would have to file an amendment to my taxes after February to claim my remaining 128.00. I have not filed to get that remaining amount yet, and my stilumus check was 77.00 short. Someone told me there was a news report about a glitch in the IRS system and any early filers that got odd stimulus amounts would need to call the IRS to get the remainder of their Stimulus sent to them. Has any one else heard this?
Tina,
Did you file with TurboTax?
I did. I have filed with Turbo Tax for 10 yrs now, but I pay for the fees with my debit card, and I dont pay the fee for Santa Barbara bank to deposit it….
Tina… As noted above, the IRS determines your rebate amount based on the specifics reported in your 2007 tax return. So it should not make any difference that you used TurboTax. It sounds like you need to follow up with the IRS to figure out what is going on.
Bob Meighan
VP, TurboTax