navymedic

Gah.

LipstickLibrarian

xrodion

I searched with Google, Yahoo!, Alta Vista, carrier pigeons, and the like. The majority of information that I have seen [read: all] states that they would not be running drafts on the SBB&T accounts first, then drafting a check the day the direct deposit was to be transmitted.

I really don't care any more other than just wanting to know what the 100% true and final answer is.

tmlfan81

@greatgoogly: Turbo Tax did indeed include that option, so I hope I did everything right -- sent a paper check (didn't want to pay the fee) for what I owed the IRS, but submitted the direct deposit info for the stimulus check.

Carencey

So, to recap. I relayed what the IRS told me, and you relayed what the IRS told you, both over the phone. If you run a search on google, you would see that the IRS did the exact same thing to a number of people. Each, different information. Some what they told you, some what they told me, and others that we haven't heard before.

So before assuming that everything contradicts what I say, try searching.

With that said, Yes, the IRS just (as in yesterday), updated their FAQ, providing information that CONTRADICTS their previous statements. This is called cover up, and is well known in the government section as well as corporations.

This also means they got a clue and decided to organize themselves.

Jinx

I'm sure that many consumerist readers wouldn't of fallen for this one but I just got to this FAQ:

Q. I chose to have my tax refund deposited onto a "stored value card" or debit card through the professional tax preparer I used. Will my stimulus payment be directly deposited onto that same stored value card or debit card account?

A. Yes, unless you requested a refund anticipation loan (RAL) through your tax professional or the stored value card or debit card account has been closed, in which case you will receive your economic stimulus payment by paper check. Because the IRS must wait until the money is returned, this process may take several weeks.

tande

"Exactly. So your saying people shouldn't believe you? I agree. Now your trying to pit two different IRS "agents" against each other. lol.

Take everything that you read or hear with a grain of salt. The majority of the information that I've read, seen, and been told contradicts what you posted. Your post contradicts what I stated, as well as the IRS FAQ.

Go sprout your questionable information else where ;)

I'd rather not, honestly. I just want to know one way or the other, without some fuckhead on the other end demonstrating how much of an ass he is.

Of course, there's the possibility that the IRS's left hand doesn't know what it's right hand is doing ..."

That happens in any organization - and with this being a hot button issue for low income families, I'm sure they [are not] being trained to handle the situation in a professional manner.

tmlfan81

So if we take $25 (turbo tax) + $25 SBBT, thats -$50 just to file taxes. Compare this to the free efiling, or the >$200 HR Block ....

If a person know how to do their own taxes and have time to spare reading up on all the tax law changes every year, then eFiling might be the way to go.

For the average person who do not have the time slaving over tax codes, Turbo Tax (and the like), might be the way to go.

In the above case, you have the choice of either paying up front, or paying out of the refund at 2x the cost. How much is convince (sp?) worth?

If we're talking about education, then everybody would be doing their own taxes, and would fill out the W4s appropriately so there would be no paying and no refund .... However, with the ever changing laws, you'd have to be a major tax guy to pull it off.

Jinx

ByeBye

johnva

Usually it's the same folks who consider their tax refund some kind of bonus out of the sky, and go and blow it. Granted, this is out of lack of education on the issue - nothing about the folks themselves.

RALs target the people who they hurt the most, of course.

I still don't know why this stuff isn't taught in schools.

tcp100

Exactly. So your saying people shouldn't believe you? I agree. Now your trying to pit two different IRS "agents" against each other. lol.

Go sprout your questionable information else where ;)

Of course, there's the possibility that the IRS's left hand doesn't know what it's right hand is doing ...

Jinx

johnva

RAL = total scam.

That being said, some people that used Turbotax and such got screwed too due to some of the other problems mentioned here that didn't involved RALs. But to be fair the government didn't give the tax prep companies much time to get things ready.

johnva

I e-filed and got my rebate direct deposited. Took less then a week to wrap the whole thing up. I can't imagine a situation where I'd pay 100+% intrest to get the money 3 days before I'd get it anyways.

tande

Shinzou

greatgoogly

The whole thing about the tax code being horribly onerous is a bit exaggerated. Really, it's not that hard to do your taxes yourself - and if you're owed, you'll get a refund in about two weeks with Direct Deposit.

Stop messing with RALs and stuff! They're a bad idea.

tcp100

johnva

And Intuit assumes no liability for what happened. In their defense the Gov't. just kind of dropped this on our doorstep and that was that. They really didn't give two shits how people got their money or what steps consumers would need to take in order to take advantage of the stimulus.

When I spoke with an IRS agent on the phone last night, he opened up rather nicely and seemed empathetic to my plight. He understood what happened and then quickly reminded me that I had a RAL - a refund anticipation loan. SBB&T fronted the return fees for me so I could get my tax return.

It wasn't so much what he said as opposed to how he said it. Sure, he could have also simply stated that the IRS didn't have my actual bank account and routing numbers and couldn't do a deposit into my account even if they wanted to.

What I love, love reading is how on the other stimulus article another Consumerist reader is spouting some questionable information about how the IRS is somehow going to magically cut a check for the rebate [on 5/9 in my case] because they would have attempted and failed at direct deposit on the SBB&T account.

The IRS agent I spoke to assured me that hands down, there was no such plan in motion and June was when I would be paid.

Don't believe everything you read online. Call directly and get the information yourself. Even then, take it with a grain of salt.

tmlfan81

No. I expected to get mine alot earlier as well. It should've been more clear.

Myownheroine

HIV 2 Elway

...thanks for all the helpful info about this that you guys are providing...very nice!

Mr. Feller

cmp179

Eyebrows McGee

bms

Lea9017

Lea9017

I almost did this with Tax Act this year, until I saw the extra $14.95 they were charging to have the fee deducted from my refund. What is up with that? I whipped out the CC instead and got my stimulus deposited today.

dollywould

Also, you cannot be claimed as a dependent on anyone else's tax returns. Luckily for me this is the last year that will I will be claimed as one, so I should get the money next year instead. There are still a lot of people out there though that won't get it this year or next year and whose parents won't get an additional child credit.

sdennett

A. Taxpayers who use Refund Anticipation Loans (RALs) or enter into any other loans or financial agreements with a tax professional, such as agreeing to have return preparation fees deducted from their refunds, cannot receive their stimulus payments by direct deposit and instead will get paper checks based on the paper check distribution schedule.

God, that pisses me off. Thanks for telling me a few days before I expected to get it, IRS! Why was this info not available sooner?

Brien

chiieddy

No economic stimulus for me, can't have, not mine.

Major-General

catskyfire

Bay State Darren