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Deposits Coming Earlier Than Expected!

In summary, according to this article, American consumers will be receiving their bank deposits earlier than expected. Also, an online calculator has been created to help those who don't know how much money they will receive in their deposit checks. Finally, congratulations are in order for someone as Lisa, who is closing on her house on the same day as her daughter is accepted into a college.
  • #51
DH's # is 07 and we haven't gotten ours yet! When we do it's bills for us as well!
 
  • #52
My hubbys' is #00 and still nothing, but I messed up on my check book and got behind in bills, had to replace the waterheater etc. so I think now, its bills, bills, bills.
 
  • #53
Lets see.....driving school for DS, plane ticket for DS, a new fence and then what is left goes into savings!
We will get less then originally anticipated since half DH's income was tax free last year.
 
  • #54
Glad to see I am not the only one that expected theirs early and didn't get it yet. Hopefully tomorrow. :rolleyes:
 
  • #55
I am sure we'll have it by Friday. I have a feeling that the gov. isn't sending them out by the schedule anyway. My friend who is #16 got her's monday monrning.
 
  • #56
Anybody heard anything that if you have student loans, you won't get this check?
 
  • #57
There are several pages of FAQ at http://www.irs.gov/newsroom/article/0,,id=181991,00.html
 
  • #58
lissahope26 said:
Anybody heard anything that if you have student loans, you won't get this check?
Click to expand...

No, didn't hear that at all?!?!?!

I hope not because we have student loans for my Master's Degree...I didn't read that anywhere though.
 
  • #59
I havent heard that anywhere either. I also hope not since we have DH student loan. Just paid mine off this yr. YEAH
 
  • #60
lissahope26 said:
Anybody heard anything that if you have student loans, you won't get this check?
Click to expand...

Yes, I read it on the IRS website. If your student loans are in default (I think they mean seriously past due!) they will not send it. Same for child support or back taxes.
 
  • #61
heather223 said:
Yes, I read it on the IRS website. If your student loans are in default (I think they mean seriously past due!) they will not send it. Same for child support or back taxes.
Click to expand...

That makes sense and I heard about the child support delinquency.

It just sounded odd that for ANY student loans - that didn't make sense.
 
  • #62
heather223 said:
Yes, I read it on the IRS website. If your student loans are in default (I think they mean seriously past due!) they will not send it. Same for child support or back taxes.
Click to expand...

I should have known this since I have gotten my ex's tax return a couple times but this will be a nice addition to income for me!

As far as mine, I am assuming that I won't be getting it unti I actually file since I did an extension. I need to go read on the website and find out. If and when I do get mine I will spend it on house items or invest it - am working on the six months of expenses in the bank right now.
 
  • #63
janetupnorth said:
That makes sense and I heard about the child support delinquency.

It just sounded odd that for ANY student loans - that didn't make sense.
Click to expand...

If you read the wording on the IRS site it is vague, but I have only ever heard of them taking it for student loans that were in default. I don't see why it would change now.

Watch ~ this will be the one time they do take it! I have student loans out but are not due since I am still attending college.
 
  • #64
IT is only for delinquent student loans, I know all about it because the IRS screwed up our tax refund because they said I was behind but I wasn't it has been a royal mess, I finally got everything straighten out and am still waiting for my refund, talk about a pain. I should ask for interest for the time they have had my money since I was supposed to recieve it since if i was late aying them lord knows I would have to pay fines out the wazoo.

So basically what I am saying is they will only take it if you are delinquent in your student loans and I think it is pretty majorly delinquent not just a month or two behind from the impression I have got from the office I have been dealing with.
 
  • #65
PChefAbey said:
IT is only for delinquent student loans, I know all about it because the IRS screwed up our tax refund because they said I was behind but I wasn't it has been a royal mess, I finally got everything straighten out and am still waiting for my refund, talk about a pain. I should ask for interest for the time they have had my money since I was supposed to recieve it since if i was late aying them lord knows I would have to pay fines out the wazoo.

So basically what I am saying is they will only take it if you are delinquent in your student loans and I think it is pretty majorly delinquent not just a month or two behind from the impression I have got from the office I have been dealing with.
Click to expand...

That is what I thought, that you have to be very deliquent. Hope you get your refund soon!
 
  • #66
Our $2100 is in the bank today! Now I can pay rent and the electric bill and everyone will be happy.
 
  • #67
I got mine today too! :chef:
 
  • #71
janetupnorth said:
Bummer...I'm probably the end of next week then.
Click to expand...

What does yours end in? I think that they do the single filers first (meaning they get theirs early) and the families get theirs later in the week or on the scheduled. I could be wrong.
 
  • #72
chef_kimmo said:
I should have known this since I have gotten my ex's tax return a couple times but this will be a nice addition to income for me!

As far as mine, I am assuming that I won't be getting it unti I actually file since I did an extension. I need to go read on the website and find out. If and when I do get mine I will spend it on house items or invest it - am working on the six months of expenses in the bank right now.
Click to expand...

If I understand it right from a friend of mine, if you had to file an extension, you won't be getting it... check out the IRS website to be sure but she was busting a move to get theirs in even though they usually file for an extension because they couldn't get it if they did the extension. I hope for your sake I'm totally wrong here.
 
  • #73
heather223 said:
What does yours end in? I think that they do the single filers first (meaning they get theirs early) and the families get theirs later in the week or on the scheduled. I could be wrong.
Click to expand...

69 and we filed as a family. We're in the 2nd round but I can always wish. :)
 
  • #74
janetupnorth said:
69 and we filed as a family. We're in the 2nd round but I can always wish. :)
Click to expand...

That's us...57, second round. I really wanted DH to get the fence finished this weekend while the girls and I are camping. Of course, he has to work next Saturday and then is home off and on through the end of June.

Ahhh..the camping with Girl Scouts..that is a whole other post. LOL!!
 
  • #75
If I was the primary we'd have ours (my number is 17) but dh is 95 so we'll see ours in the last round of direct deposit (I think mid-May). What I don't understand is why neither we nor our college son is eligible for money for him.

He filed a tax return but is a dependent on ours so he didn't qualify but he is over 17 so he doesn't qualify on ours either. :grumpy: I would have loved to have those couple of hundred to put in his college account.
 
  • #76
We still don't have ours! I'm bummed!
 
  • #77
Long Post--Did you use Turbo Tax for your taxes. If so, please read!!!Attached is an excerpt regarding the delay in some of the direct deposits going through. It seems that if you filed with Turbo Tax you will be getting a paper check instead of direct deposit. It's too lengthy to type out, however attached is a copy of the excerpt.

How Does Using TurboTax Affect My Economic Stimulus Payment?
If you’ve used TurboTax to file your income tax, there is a chance you will be getting a paper check in the mail. You will get a paper check even if you get your federal income tax rebate by direct deposit.
Why Won’t I Get My Economic Stimulus Payment by Direct Deposit?
If you used TurboTax’s “refund transfer” you will not get a direct deposit. This information comes directly for the TurboTax Support Site Page on the Stimulus Payment:
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 .
Your First Mistake
If you paid your TurboTax fees with your tax refund you’ve made 2 mistakes. First you’ve paid $29.95 for a “refund processing fee.” That was a very dumb idea. You’ve paid $30 for just for the privilege of paying TurboTax/Intuit to take your money out of your tax rebate.
Your paying $30 to Santa Barbara Bank & Trust to “loan” you the money for your TurboTax payment. Your tax refund then goes to Santa Barbara Bank & Trust and then they send you what’s left over.
Disclosure: I used to work for one of the software companies that provides the system that facilitates this for Santa Barbara Bank & Trust. So I know just a little bit about the RAL (Refund Anticipation Loan) system.
Your Second Mistake
Because Santa Barbara Bank & Trust is technically getting your tax refund direct deposit from the IRS, you won’t get your stimulus payment by direct deposit. That’s because the US Treasury doesn’t have your bank information because TurboTax didn’t send it to them.
Because of the timing of the Economic Stimulus Payment Package most tax preparation companies didn’t have a chance to prepare for it. So in TurboTax’s defense, they probably just didn’t have time to make it work.
Your Check is In the Mail
You’ll just have to wait to get your check in the mail like the rest of us. You can check out the updated economic stimulus payment schedule here.


What if I Paid for TurboTax’s Fees Another Way?
If you paid your filing fees with a credit card or some other way, you should be fine. That means you should get your economic stimulus payment by direct deposit. That’s because TurboTax would have sent your account information directly to the IRS.
This assumes you’re getting a refund of course. If you paid in then you’ll get your check in the mail

The person who prepares our taxes just puts the Turbo Tax charge on his credit card and then we pay him cash. I wonder where the refund will go since the IRS has his credit card information, not our information. hhhmmm....:rolleyes: This is all confusing me!:confused: :(
 
  • #78
I didn't use TurboTax. I went to Jackson-Hewitt BUT my tax refund came through Santa Barbara Bank. Does this apply to me too?
 
  • #79
We did turbo tax and we did not want to pay that fee for them to put it into our account so I believe we paid by CC I guess we will see next week.
 
  • #80
Karen - based on what was read, you WILL get your refund not that guy. He just put the fees on his CC not your tax refund! Your bank information was submitted to the IRS.Just a question, Turbo Tax is so easy and walks you through it, why would you pay someone to use Turbo Tax to prepare your taxes? I can see paying an actual tax accountant but not someone to enter for me...curious...I too used Turbo Tax but submitted my payment separate and DID NOT take it out of my refund so I should be fine. I read the fine print on that when I did it and didn't like it.
 
  • #81
We use Turbo Tax and I paid my fee with my debit card and we recieved our refund today by direct deposit.

Georgia Peach yours will also be mailed to you, know this because the same thing happened to my friend who used H and R block, so you will get yours in the mail.

I couldn't see the point in paying someone $30 to pay my $20 turbo tax fee. But I guess more people than we realize do that
 
  • #82
Okay so this explains a lot, because I was expecting mine on the 28th and it never got deposited. Suck-O!!! I want my money!!! (cry cry cry)
 
  • #83
Janet--We pay someone to do our taxes because I get too nervous wanting to make sure that I do everything correctly when I try to do something like this myself. I'm always afraid that I'm going to miss something. It also helps because my husband worked in both PA and NY this year so we also had to file PA & NY state tax as well. And on top of all that, we also had a rental house with expenses to claim (which, we just sold and closed on last week. :sing:). I feel that it's well worth paying our guy the $40 that he charges us for EVERYTHING and not going through the stress! Plus, it's a write off!
 
  • #84
I'm curious, did anyone receive something from the IRS beforehand saying how much you'd get and when? I was reading somewhere about that but wasn't sure if they actually sent out the notices or not.
God bless,
Amanda
 
  • #85
I received my notice today but we got our money last Friday. Actually the notice is dated today and says we should have received the money by May 2 but to notify them if we haven't received it within 6 weeks.
 
  • #86
What if you used Taxcut to file? We didn't have to pay a fee since we're military but does using that one effect direct deposit also?
 
<h2>1. When will the deposits be coming?</h2><p>The exact date of when the deposits will be coming cannot be confirmed. However, based on the information on the article, it is expected to be earlier than originally anticipated.</p><h2>2. How much earlier will the deposits be coming?</h2><p>The article does not specify the exact time frame of how much earlier the deposits will be coming. It is simply stated that it will hopefully be earlier than expected.</p><h2>3. Will all deposits be coming earlier or just some?</h2><p>Based on the article, it seems that all deposits will be coming earlier than expected. However, it is always best to check with your specific financial institution for confirmation.</p><h2>4. Is there a possibility that the deposits may still come on the original expected date?</h2><p>While the article states that the deposits will hopefully be earlier than expected, there is always a possibility that the deposits may still come on the original expected date. It is best to keep an eye on your account and check with your financial institution for any updates.</p><h2>5. Will this early deposit affect my account in any way?</h2><p>It is unlikely that the early deposit will have any negative effect on your account. However, it is always best to monitor your account and check with your financial institution if you have any concerns.</p>

Related to Deposits Coming Earlier Than Expected!

1. When will the deposits be coming?

The exact date of when the deposits will be coming cannot be confirmed. However, based on the information on the article, it is expected to be earlier than originally anticipated.

2. How much earlier will the deposits be coming?

The article does not specify the exact time frame of how much earlier the deposits will be coming. It is simply stated that it will hopefully be earlier than expected.

3. Will all deposits be coming earlier or just some?

Based on the article, it seems that all deposits will be coming earlier than expected. However, it is always best to check with your specific financial institution for confirmation.

4. Is there a possibility that the deposits may still come on the original expected date?

While the article states that the deposits will hopefully be earlier than expected, there is always a possibility that the deposits may still come on the original expected date. It is best to keep an eye on your account and check with your financial institution for any updates.

5. Will this early deposit affect my account in any way?

It is unlikely that the early deposit will have any negative effect on your account. However, it is always best to monitor your account and check with your financial institution if you have any concerns.

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