Have You Received Your Deposit From the IRS?

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2lz2p
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Re: Have You Received Your Deposit From the IRS?

Post by 2lz2p »

Undaunted wrote:
Thu Apr 16, 2020 2:28 pm
I never file early because I always must pay....why should I give the government my money earlier than it is due?
Fortunately, I usually receive a refund. A few years ago, I did have to pay. I still filed early using Turbo Tax, but if you owe IRS, no problem as you can have them take it out of your account and they wait until April 15 to do so.

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Re: Have You Received Your Deposit From the IRS?

Post by Gaybutton »

2lz2p wrote:
Thu Apr 16, 2020 5:42 pm
you can have them take it out of your account
Take it out of what account? An American bank account? A Thai bank account? Something else?

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Re: Have You Received Your Deposit From the IRS?

Post by 2lz2p »

Gaybutton wrote:
Thu Apr 16, 2020 6:23 pm
2lz2p wrote:
Thu Apr 16, 2020 5:42 pm
you can have them take it out of your account
Take it out of what account? An American bank account? A Thai bank account? Something else?
Since the subject was US Income taxes, it means your bank account information that is entered on IRS 1040 Form (US banking system ACH number & account number). If a refund is due, it is deposited to the account entered on the 1040 Form - in my case filing early, usually within two weeks. If you owe more taxes, IRS will not take it out of that account until April 15 (maybe Jul 15 for 2019 tax filing as they have extended the deadline til then -- but then again maybe they will still use the usual filing deadline if you file before).

GB, since you apparently rec'd your stimulus money through your Transferwise Borderless account which has an ACH number & account number, it most likely could be used for payment of any taxes due; of course anyone using their TW Borderless account will need to be sure enough was in the Borderless account when the tax man come to get his money :( .

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Re: Have You Received Your Deposit From the IRS?

Post by Undaunted »

Still waiting. :evil:
"In the land of the blind the one eyed man is king"

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Re: Have You Received Your Deposit From the IRS?

Post by Gaybutton »

Undaunted wrote:
Fri Apr 17, 2020 11:53 am
Still waiting. :evil:
The only thing I can think of is maybe it's because you paid taxes instead of getting a refund. Maybe for whatever reason that takes longer. If you get a refund, IRS has your bank account information for direct depositing the stimulus money unless the refund was by paper check.

I don't know how it works if you pay taxes because I always make sure to have enough withheld so that I get a refund instead of having to pay anything more. Are you sure IRS has the necessary information for direct depositing to your bank account?

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Re: Have You Received Your Deposit From the IRS?

Post by Undaunted »

Gaybutton wrote:
Fri Apr 17, 2020 12:18 pm
Are you sure IRS has the necessary information for direct depositing to your bank account?
Yes, my accountant pays the IRS directly online from my account and has been doing that for years.
"In the land of the blind the one eyed man is king"

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Re: Have You Received Your Deposit From the IRS?

Post by Gaybutton »

Undaunted wrote:
Fri Apr 17, 2020 1:54 pm
Yes, my accountant pays the IRS directly online from my account and has been doing that for years.
I hope you get it soon.

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Re: Have You Received Your Deposit From the IRS?

Post by Undaunted »

Me 2.
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Re: Have You Received Your Deposit From the IRS?

Post by daherk »

Undaunted you may have to go to the IRS website and fill in your bank information. I also always pay and my CPA has informed the IRS to take it using an ACH transfer directly from one of my US accounts. The IRS pulled my money out on the 15th as always, but didn't deposit anything. I went to the website and filled out their form page 1 - with my SS # and date of birth - continued to page 2 and it said yes I was owed money but they were missing information: needed my 2019 gross income (or 2018 if I had not filed) and my banking information bank routing number and account number. Filled in the blanks and it was accepted...now I wait.

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Re: Have You Received Your Deposit From the IRS?

Post by Undaunted »

daherk wrote:
Fri Apr 17, 2020 3:33 pm
Undaunted you may have to go to the IRS website and fill in your bank information.
Thanks!
"In the land of the blind the one eyed man is king"

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