US Approved Corvid Stimulus Package- Where's The Money

[Tommy T.]

1 minute ago, OnMyWay said:

My main worry is that they will look at my 2019 return, not find bank info, then mail a check.

I see why you are concerned. I am a bit busy now so cannot search for them, but I have read more than one article where they simply say that anyone who receives SS in direct deposit will automatically receive the stimulus delivered to the same account.

Of course you should double check. The way the articles I read were written stated quite clearly what I just wrote above. But if you are in doubt, you can always file a quicky tax return that IRS will supposedly make available soon.

I am in exactly your situation - SS recipient, but I file tax returns even though I don't owe taxes - just to keep a record of filing in case there are ever questions in the future. Maybe I a bit sanguine, but I am not concerned... Let's hope that I am correct for once?

[Tommy T.]

26 minutes ago, OnMyWay said:

The next wave of money could begin as early as the week of April 20 for a group of people who receive Social Security benefits via direct deposit but may not make enough money to be required to file a federal income tax return in 2018 or 2019. You will not need to file any extra forms to receive this money. 

Perhaps this will help? Just took a short break and found this on ABC news online:

https://www.nbcnews.com/politics/congress/irs-releases-more-info-how-get-coronavirus-stimulus-checks-asap-n1172676

The IRS said other Americans who weren't required to file taxes in the last two years will have to file a "simple tax return" with basic information like filing status, number of dependents and bank information in order to get money. That excludes Social Security recipients and railroad retirees, as the agency said it'll use SSA-1099 and RRB-1099 forms where available.

However, the one caveat mentioned is that, if you did not file tax return with bank info (as in not owing taxes) then it will take longer to receive your (our) deposits.... So not today but in several weeks or possibly longer.

Edited April 12, 2020 by Tommy T.

[roddavis]

9 minutes ago, Tommy T. said:

I see why you are concerned. I am a bit busy now so cannot search for them, but I have read more than one article where they simply say that anyone who receives SS in direct deposit will automatically receive the stimulus delivered to the same account.

Of course you should double check. The way the articles I read were written stated quite clearly what I just wrote above. But if you are in doubt, you can always file a quicky tax return that IRS will supposedly make available soon.

I am in exactly your situation - SS recipient, but I file tax returns even though I don't owe taxes - just to keep a record of filing in case there are ever questions in the future. Maybe I a bit sanguine, but I am not concerned... Let's hope that I am correct for once?

OK - Looks we three are in the same boat:

Filed 2019 return - no refund - no bank deposit info.

Soc Sec direct deposited - IRS could/should have bank deposit info.

Problem: If the IRS looks at return see no bank info, they proceed to get Soc Sec deposit info I think they only give one deposit to the beneficiary. No credit for wife or child if they qualify. Hopefully they would see by your 2019 return what the correct status should be. In my case have qualifying wife and child that is 17 and does not qualify- so expecting $2400. But if they just look at Soc Sec- will only get $1200, because wife/child do not get any benefits! So that is why I hope getting the deposit info into(Those who filed but no refund) the program that releases in the next few days.

[Tommy T.]

11 minutes ago, roddavis said:

Problem: If the IRS looks at return see no bank info, they proceed to get Soc Sec deposit info I think they only give one deposit to the beneficiary. No credit for wife or child if they qualify. Hopefully they would see by your 2019 return what the correct status should be. In my case have qualifying wife and child that is 17 and does not qualify- so expecting $2400. But if they just look at Soc Sec- will only get $1200, because wife/child do not get any benefits! So that is why I hope getting the deposit info into(Those who filed but no refund) the program that releases in the next few days.

Let's hope our boat doesn't sink!

Yeah... You have a more complex situation. I am less confident that they will figure out to match SS benefits with tax return filing.

Your other alternative, from what I've read, is that you can file one of those quicky tax returns and put your direct deposit info on that to simplify things? Or maybe just your wife and child file the quicky returns? Interesting question.

 Please let us know how that progresses? You've got my curiosity going now. Hope it works out quickly and easily for you, Rod.

Edited April 12, 2020 by Tommy T.

[roddavis]

1 minute ago, Tommy T. said:

Let's hope our boat doesn't sink!

Yeah... You have a more complex situation. I am less confident that they will figure out to match SS benefits with tax return filing.

Your other alternative, from what I've read, is that you can file one of those quicky tax returns and put your direct deposit info on that to simplify things? Please let us know how that progresses? You've got my curiosity going now. Hope it works out quickly and easily for you, Rod.

I thought about it( and checked the website). It definitely states if you didn't file 2019. But I didn't want to have 2 returns showing! Now what kind of problem would that make? Just have to wait until portal opens.

[OnMyWay]

10 minutes ago, Tommy T. said:

Your other alternative, from what I've read, is that you can file one of those quicky tax returns and put your direct deposit info on that to simplify things?

Rod and I did file returns already.  If we were to file a fake return, that would really screw things up.  That is why we have to wait for the link I keep mentioning.

21 minutes ago, roddavis said:

Problem: If the IRS looks at return see no bank info, they proceed to get Soc Sec deposit info I think they only give one deposit to the beneficiary. No credit for wife or child if they qualify. Hopefully they would see by your 2019 return what the correct status should be. In my case have qualifying wife and child that is 17 and does not qualify- so expecting $2400. But if they just look at Soc Sec- will only get $1200, because wife/child do not get any benefits! So that is why I hope getting the deposit info into(Those who filed but no refund) the program that releases in the next few days.

Similar to me, except I have two qualifying kids.  On my tax return, my wife and kids are there.  My wife does not get SS but my two kids do, and their accounts are separate from my.

I think the tax return has to be the place where they determine that I have two eligible kids.  All they would get from SS is bank info.  I hope.  That is why the ability to check this week is very important to some of us.  $3200 is a nice chunk of change.

However, I do hope my CPA is right and they have my bank info with the tax return, even though there was no refund.  The software may only print on the return if there is a refund, but still send it.  Why?  Because if the IRS changes your taxes due, you could get a refund.  That has actually happened to me and was a nice surprise.

Rod, how do you do your taxes?

Edited April 12, 2020 by OnMyWay

[Tommy T.]

35 minutes ago, OnMyWay said:

Rod and I did file returns already.

One of the things also mentioned is that, if you did not yet file your 2019 return, they would revert to your 2018 return. That one I did file last year. So I am in the same situation, except no kids or wife to complicate matters so much.

Good luck to all of us!

Edited April 12, 2020 by Tommy T.

[roddavis]

27 minutes ago, OnMyWay said:

Rod, how do you do your taxes?

I'm a die-hard Turbotax filer. Could not file 2018 could not e-file cuz program would fail with errors. 0 balance detected, cannot e-file, so I did't file.

Tried 2019 tax program this year failed again same problem. Went online free version and had same problem. Come to find out that the AGI has to have a figure other than 0. So on the free online said I had lottery winnings of $50. Now have an AGI greater than zero and was able to e-file online, but still nopay/refund. You cannot override to put in bank info, just fills with XXXX's for bank info.

[Arizona Kid]

3 hours ago, OnMyWay said:

so I should no longer have to worry about the absolutely horrid postal service

I think you are being nice when you only use the word horrid to describe the PH postal service. 

[Arizona Kid]

56 minutes ago, roddavis said:

I'm a die-hard Turbotax filer. Could not file 2018 could not e-file cuz program would fail with errors. 0 balance detected, cannot e-file, so I did't file.

Tried 2019 tax program this year failed again same problem. Went online free version and had same problem. Come to find out that the AGI has to have a figure other than 0. So on the free online said I had lottery winnings of $50. Now have an AGI greater than zero and was able to e-file online, but still nopay/refund. You cannot override to put in bank info, just fills with XXXX's for bank info.

Had the same type of problem when I tried to e-file years ago. Since then I file paper returns through the US Embassy in Manila. Takes about 6 weeks to get my return but at least I know it's safe and won't get lost in the shuffle. Doing it since 2003 and have never had a problem. The people that work at the embassy are always very helpful.