Well I will just wait and see what happens then or until someone reports back who also used TurboTax. I did check my return and my bank acct and routing number are on it so that made me happy but this new info doesn't . Ah well, I guess it's a waiting game at this point!

I'm lost here. I used turbo tax because it was free. My refund came directly from the IRS and was dd. So I have to wait months for a check now??

I was a student for half of 2007 (I graduated in May 07). I was a part time waitress the whole year while looking for a post-college job so I only made $13000 (that the gov't knows about...shhh) and my total tax was $393 (this is after a whopping $29 refund via dd). This was what I was expecting as my stimulus rebate before I learned that college students wouldn't be getting one.

My parents did not claim me as a dependent for last year, but I guess they could have because I was a student for part of the year. I am not a student at all in 2008. I have had a full-time job the whole year making about $30,000/year pre-tax plus a part-time cocktail waitressing job where i make about $12,000/year (but only about $6,000 that the government knows about... SHHH! )

So, what I've gathered from this is that

1. I will not be getting a $393 stimulus DD because I COULD have been a claimed as a dependent in 2007, which is the year the stimulus packages are based on.

2. Because the stimulus package is actually an ADVANCE on 2008 Taxes, and because I was not a student in 2008 and had a higher reported income and therefore I paid more taxes, I should probably get the whole $600 rebate (Single filer, no kids) in 2009.

Is this correct? For the record, I am 22, but am completely financially independent and not a student at all in the 2008 tax year.

I will agree that I'm pretty peeved also if that's the way this turns out but I'm trying very hard to take it like a big girl

And no, it's not so much that we needed the $$ but we were hoping for it before the summer rather than after - it would've helped so much more now.

Well, I found the following on turbotax which seems to refute the above:

"Under certain circumstances, however, the IRS has decided that taxpayers can only get their rebates by mail, even if they get their refunds by direct deposit. At TurboTax, this will happen if you use a "refund transfer" when filing your 2007 return. This service lets you pay for your tax preparation and/or e-filing from your refund proceeds, for an additional fee, under an agreement with Santa Barbara Bank & Trust .

The IRS also says that taxpayers who use "refund anticipation loans" or RALs (loans made to tax filers against their expected refunds) will also be unable to receive their rebates by direct deposit. TurboTax does not offer RALs. "


So it sounds like if you had your fee deducted from your refund you will get a mailed check -- if you paid by cc then you get direct deposit. I hope so anyway -- I paid by cc. I'll post when if I recieve mine although since my SS ends with 53 it will prolly be towards the end of the week.

It is NOT an advance. The only reason you have to keep your paper saying how much you rec'd, according to the IRS website is in case you were not properly credited the right amount. If you were overpaid, you will NOT have to give it back.


. If my Stimulus Payment is not going to affect my 2008 tax refund or increase the tax I owe next year, why is it I need to retain the letter that lists how much I received?

A. In the event you do not qualify for the full amount on your 2007 return but you do on your 2008 return, you will need to have the letter as a record of the amount you previously received. [New 4/11/08]

Q. Will the payment I receive in 2008 reduce my 2008 refund or increase the amount I owe for 2008?

A. No, the Stimulus Payment will not reduce your refund or increase the amount you owe when you file your 2008 return.

Q. I don’t qualify for a Stimulus Payment based on my 2007 return. But my tax situation will be different in 2008. Will I qualify for any special benefit?

A. Possibly. The 2008 tax instructions will include a worksheet to help those who did not qualify for a payment or those who received a reduced amount determine if they can obtain a benefit when they file their 2008 tax returns next year.

this is interesting because i waited till like a week before taxes were due to do ours since we owed this year. turbo tax specifically said we'd qualify for the stimulus check and asked if we'd like it direct deposited. then asked for the account information. either way, we're at the top of the bunch in the order but it would be nice to get it this week.

Yeah but isn't it pretty much an advance considering it's supposed to be based on the 2008 tax year, but they are using 2007 so we can all get it sooner? I realize that if you got more based on 2007 than should have gotten based on 2008, you do not have to pay the difference, but I will be getting less because of my student-status in 2007. I believe I will be getting my whole rebate amount when i file my 2008 taxes though. So isn't the rebate essentially an advance that everyone else is getting besides me (and other 2007 college graduates)?

I'm so confused!!! So if you use Turbo Tax and you have your refund DD'd that refund doesn't come form the IRS? It comes from Turbo Tax? I filed using freetaxusa dot com, and my DD came from the IRS I know it did because when I checked their website it told me when I'd get my DD. Did turbo tax do something different??

I think they are talking about a third party Rapid Refund. For a fee a financial institution advances your refund then they basically intercept it from the IRS. I think that is what this is referring to???

I remember seeing this option through TurboTax before, that was years ago though, I didn't think they still offered this.

I did mine through TurboTax, and had the fee automatically deducted from the refund amount, but my refund deposit states that it is from the IRS Treasury Dept or whatever.... so it doesnt look like it was routed through anywhere.

Wow. There's a lot of misinformation in this thread. Half the people are confused, and half the other are confusing the rest.

If you have the fees deducted by a third party bank then the refund itself will be routed through that bank. In that case, as far as the IRS is concerned, this was not a direct deposit.

At least that's how I read it.

Correct. Here's more from turbotax. It refers only to third party transactions:

How will I receive it?
Most people will receive their rebates the same way they choose to receive refunds on their tax returns -- by direct deposit into their bank or other accounts, or by check in the mail.

If you haven't filed a return yet and you qualify for a rebate, you can select either method when you file.

Under certain circumstances, however, the IRS has decided that taxpayers can only get their rebates by mail, even if they get their refunds by direct deposit. At TurboTax, this will happen if you use a "refund transfer" when filing your 2007 return. This service lets you pay for your tax preparation and/or e-filing from your refund proceeds, for an additional fee, under an agreement with Santa Barbara Bank & Trust .

Is that supposed to be something new?

Guess not.

i personally dont think he was trying to troll. i know people are anxious for the money but patience is a virtue .

It is an advance, in that it's a tax rebate based on a 2008 tax change, but the amount depends on 2007 tax returns(in order to get out the stimulus early) for now, but eventually will be based on 2008 returns.

Confusing? Yes.

My rebate just showed up in my bank acct. It was not there 2 hours ago but is there now. My SS# ends in 04.

I won't get mine now until the end of june.... SUCKS lol Oh well.... I will NOT be using H&R block ever again to do my taxes... I can easily do it myself and mail it in...

TurboTax makes doing taxes mere child's play.

+1

8 years and counting for me!!!

I used to do my own until I found TurboTax. Doing them myself is easy but having TurboTax do them is even easier. Well worth the couple bucks!!

+2

I did mine via H&R Block, online.

I have done mine myself, and via turbotax. I ended up with a $108 return vs a -$500 return via turbotax.

YMMV

And btw, H&R block is the worest, try having them redone via at least turbotax, you will see H&R are a bunch of morons.

I did them online through the system... I didn't actually go in..but because I did the simple pay option... I am now stuck waiting until the end of june... I will go back to the old way and just do it myself...

Surely then -- you can tell us what the resulting difference was caused by? TurboTax goes by the information you tell it -- so either you put something down on your 1040 that you didnt enter into TurboTax -- TurboTax has a bug -- or you credited yourself something you shouldnt have.

i had my refund dd but since closed that cking account. I now have a different one. i called the irs csr she said that they would try to dd into that account and when it doesnt go through they would mail a check. i just wonder if they will mail it right away or will i have to wail until they paper ckeck cycle date?

So you are insuinuating that turbotax knows every situation for every person?

No, Turbotax works great for 95% of the population. But some people as myself, have certain investments or aspects of their tax return which turbotax does not know the ideal way to handle. Nothing I put on my returns either way is illegal or misleading in ANY way.

It's the IRS. You shouldn't get your hopes up that you will receive a special run of checks before everyone else. If anything -- I would assume it would DELAY your check, as they will run a special run of checks AFTER everyone else. But who knows.

You misread my question; it was not accusatory. I simply asked what caused the err? Yes -- I am insinuating that TurboTax should be able to play out every return scenario and give you the best result (meaning highest return) -- the only time this wouldn't be the case is if TurboTax did not collect the information (ie, you have the special "I know George Bush" deduction that TurboTax doesn't know about, so when you file you can get a credit for that). If it did not, I would classify that as a "bug".

They also seem to claim they guarantee their product to do what they say (maximize your return).. though they don't really stand behind it (money back on the purchase price is silly -- $500 if you find an error is a real guarantee.)

that's because the whole rebate thing is confusing as hell.

i finally did the calculator tonight -we only get $600. Had 2 kids in college, get nothing for them (which i already knew, but damn, they are at expensive ages) - what i didn't know was the hope credit we took would reduce the rebate. One of the kids should get it next year as she graduated this yr and is out of the nest. We might get another 600 when we file in 2008, but i'm not holding my breath at this point.

MIL is expecting to get money for herself and 2 children, but it sounds like she will be disappointed too as two of the 3 get SSI.

What i didn't know was if i put my routing info on the tax return i filed, we coulda gotten the rebate by DD even though we left them keep the refund for next yrs taxes. Now i gotta wait till July 4 for my pittance.

Hardpull, read your first, then edited response.

I wish I could tell you the error, turbotax does not allow you to see the forms which they filed out until you pay for it. I was not going to pay $100 bucks just to see how they f'd up.

and What is the form for that georgebush tax rebate?

What if you owe, but the amount owed is far less than the stimulus payout amount? Will they send the difference?

I retain the right to edit my posts for tact.



It was attached to your Halliburton W2.

Yes. Awfully kind of them.

LOL! Thanks, Hardpull.

To be honest; I am surprised the Government doesn't offer a "value added service" of allowing CA's or OC's to take your stimulus money for a cut of it back, say 25%. Doesn't seem fair that the IRS' internal collections is the only group that gets to steal from the pot.

I disputed the amount with the new method and they went away

You have got be kidding me?

Hmmm ... would have thought there would be a whole new round of " I got my deposit!!! " posts here this morning. If anyone did please let us know what your last 2 digits are.

It was around 10 years ago when I wasn't using my checking account much, that the bank closed it. Of all things, I had entered the direct deposit info on my taxes the month before. 2 or 3 weeks after I got the letter that the account was closed due to inactivity, the tax deposit hit the account, which was re-opened right away. Not sure of the circumstances, but I learned from it and give that account a lot of activity now. So maybe there's hope for you

Low 00's - daughter - nothing.

Me - 30's (originally 2nd round) - nothing.

Can't seem to get onto my bank's website from work this morning and I didn't look at home - so I have no idea.

My deposit was in my account and available by 1am on the 28th. My last 2 numbers are 17. I filed electronically on 4/13.

Me either.

Just got in - nothing there today. I filed back in February via electronic. Oh well...my last 2 digits are high anyhow so I figure it'll be the end of the week.

yeah i got my return via dd in february as well and have high digits so prolly same time as you. how it looks though is everyone will be the end of the week.

Nothing in our acct today. Hoping for the end of the week deposit at this point. We filed Feb 11th. I should just be patient, as we weren't supposed to get our payment until the 16th.

Same, but I filed back in Feb.