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IRS Checks

06 May

Hey ya’ll, I was talking with my Mom (she works for accountants and deals with the IRS daily so she understands their fed-speak) about why it wasn’t saying when I get my check back.

If you submitted your taxes electronically (i.e., through Turbotax.com or something like that) AND told them to take the e-filing fee out of your tax return, YOU WILL GET A PAPER CHECK.

The reason for this is that when you pay the filing fee upfront – IRS gets your bank info.  When it comes out of your refund, your refund is actually processed through a 3rd party bank so that bank has your account info and NOT the IRS. 

Therefore, if the IRS doesn’t have your bank account info, they cannot direct deposit your stimulus payment and you must wait for a paper check.

Unfortunately, this information is NOT being spread in the media and there are going to be a lot of unhappy taxpayers that don’t get checks as expected.

Please help spread this info on.  I’d hate for someone else to be relying on it like we are and have things get messed up b/c it doesn’t come through.

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Posted by on May 6, 2008 in Blogging

 

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