Got our stimulus payment

dreadnut

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$2,400.00 added to our bank account yesterday. We'll do our part to stimulate the economy with it, although Mrs. Dread isn't thinking "NGD"...
 

DThomasC

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Maybe they can't find you? Seriously, we know you've moved recently. Did you close old bank accounts and open new ones?

Mine just showed up in my bank account. Kinda creepy, really. Obviously, I had given the IRS routing and account numbers on my last tax return. My permission to access the account for that transaction was implicit. But that was then. This is now. Did the recent payment even come from the IRS, or was the account information shared between different agencies?

Whatever. Cutting down on paperwork probably saved a ton of money. :)
 

fronobulax

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I haven't seen mine yet. WTF?
If you have filed 2019 taxes and gave the IRS bank information for direct deposit of refund then you should see something this week. Otherwise paper checks won't even get printed until May. Just passing on what I understand from several news sites.
 

Cougar

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Maybe they can't find you? Seriously, we know you've moved recently. Did you close old bank accounts and open new ones?
Had to postpone the move for another few weeks. And I get social security payments direct deposited into my bank account, so they know my account number. I expect it'll show up pretty soon....
 

AcornHouse

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Had to postpone the move for another few weeks. And I get social security payments direct deposited into my bank account, so they know my account number. I expect it'll show up pretty soon....
You’ll get it direct to your bank account. But I know they’re doing it according to some twisted priority. If you go to this IRS page, you can track where and when. https://www.irs.gov/coronavirus/economic-impact-payments

(I got mine today, too.)
 

F312

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If you are over 17, but claimed as a dependent, you get nothing, WTH.
 

Aristera

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The IRS site is worthless to me. I entered all info from my 2018 return and get "According to information that we have on file, we cannot determine your eligibility for a payment at this time.". I didn't get a refund last year and I paid a good chunk so I wanted to input my banking info.
 

adorshki

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Maybe they can't find you? Seriously, we know you've moved recently. Did you close old bank accounts and open new ones?

Mine just showed up in my bank account. Kinda creepy, really. Obviously, I had given the IRS routing and account numbers on my last tax return. My permission to access the account for that transaction was implicit. But that was then. This is now.
Good point, but I just realized "implicit" is the key word, there.
I don't recall any disclosure that the permission was for that transaction only myself, but have been using the direct deposit method fro a few years now.
The way I understood it (from a CNN article), that was exactly how they announced they would deliver the payment, to the account that was used to accept direct deposit of last refund. NO mention made of asking folks if that's where they wanted it, but I get that, under the circumstances.
Congress (IRS's boss) is thinking of it as an emergency blood transfusion to the economy
Never occurred to me to wonder what happens if that account isn't open anymore, for example.
I assume at some point they get a failed deposit notice and then resort to the paper check.
Did the recent payment even come from the IRS, or was the account information shared between different agencies?
Got mine too. I'll use it to pay my 2019 income taxes. :sneaky:
Took me a minute to realize you said 2019 income taxes, because I was originally going to say:
Yeah, good idea, because in fact this is going to be seen as an advance against your 2020 tax year refund.
But that's still worth noting.
It'll be income that didn't have any withholding, folks, "FWIW".

EDIT:
Thanks to Frono's excellent query in post #15 I've discovered that this is NOT the case.
 
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fronobulax

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Yeah, good idea, because in fact this is going to be seen as an advance against your 2020 tax year refund.
Source? Nothing I have read elsewhere suggests that this has anything to do with 2020 income or taxes, i.e. it is not taxable income nor is it an advance on a refund.
 

adorshki

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Source? Nothing I have read elsewhere suggests that this has anything to do with 2020 income or taxes, i.e. it is not taxable income nor is it an advance on a refund.
Same CNN article, or possibly another one, but somebody else just mentioned the same thing (that you say) so perhaps I misinterpreted.
In fact I just looked at the IRS site and they do in fact state it is not considered taxable income in the answer to Question 20.:
https://www.irs.gov/coronavirus/economic-impact-payment-information-center
I'll be damned.
Will wonders never cease.
Truth to tell, I'm not sure I actually like that, but that's for a different Forum altogether.
And yeah I got mine too....
 

Rayk

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Mine is being mailed . I was going to sign up for direct deposit though it's weird my account did direct deposit last year but this year it came back in the mail . Anyway I got to the sign up page and got that warning that everything I put down will be over looked by unknowns and my privacy is nil . So I just back out it just sounded creepy George Orwell 1984 .
 

adorshki

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Mine is being mailed . I was going to sign up for direct deposit though it's weird my account did direct deposit last year but this year it came back in the mail . Anyway I got to the sign up page and got that warning that everything I put down will be over looked by unknowns and my privacy is nil . So I just back out it just sounded creepy George Orwell 1984 .
"You HAVE no privacy, Get over it."
-Scott McNealy (Founder of Sun Microsystems)
"Privacy is Dead"
-Larry Ellison (Founder of Oracle)
Whom, by the way, is just the man I'd be least likely to trust with mine:

Would you buy a used computer from this man?
Me neither.
 

Rayk

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I hear ya . I felt the beating with the warning so I yielded . Lol
 
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