TurboTax tax has nothing to do with the turbo card the IRS sends money to bank than your bank sends your tax return while also sending the fees to turbo tax so with the stimulus IRS sends stimulus check to bank and than bank send it to you. The IRS will use your adjusted gross income information in the latest tax return filed (2018 or 2019) to determine the amount of your stimulus payment and will deposit your stimulus payment based on the latest direct deposit information.The stimulus check will be paid this year based on information from your most recent tax return and will be reconciled in tax year 2020 to ensure you received the correct rebate amount.For tax filers with income above these amounts, the stimulus payment decreases by $5 for each $100 above the thresholds.
If you're underpaid based on your 2020 income, you may receive more tax credit when you file your 2020 taxes.
(You can find this on line 8b of your tax return)Here are some helpful answers for you For filers with income above those amounts, the payment amount is reduced by $5 for each $100 above the $75,000/$112,500/$150,000 thresholds. The emerald card company is not accepting phone calls. If you have an adjusted gross income (AGI) of up to $75,000 ($150,000 married filing jointly), you should be eligible for the full amount of the recovery rebate.Not everyone needs to file to get a stimulus payment. If you want to check into it for yourself or you have other questions, here is the website I found this answer from. This can be one of the swiftest ways to put money back into the pockets of people dealing with the economic impact of the Coronavirus outbreak.In response to the challenges presented by Coronavirus (COVID-19), the government is taking several actions to bolster the economy, such as offering expanded unemployment, student loan relief, sending stimulus checks and more.If you're required to file a tax return, the IRS will use information from your most recent filed tax return (2018 or 2019) to issue your stimulus payment. Let's take a look at the 2020 stimulus checks, how they work, who qualifies, how to get one, and how your taxes will be affected.Adjust your W-4 for a bigger refund or paycheckThis relief will be taking many shapes over the coming months, such as:If you're 65 years of age or older (in 2019), common thresholds include:If you receive Supplemental Security Income (SSI), you'll automatically receive a stimulus payment with no further action needed. You'll generally receive the automatic payments by direct deposit, Direct Express debit card, or by paper check, just as you would normally receive their SSI benefits.According to the IRS, approximately 80% of Americans will be eligible to receive full or partial stimulus payments through the CARES Act. You’ll get your check in the mail in approximately 14–21 days. Anyone who no longer has their Emerald Card can contact H&R Block at 1-866-353-1266.”TurboTax did not return a request for comment but told The Hill, “The IRS has the end user banking information needed to deliver stimulus payments and is ultimately responsible for determining how and when the stimulus payments will arrive to Americans. Millions of us have used your tax program and used the direct deposit option with the turbotax card. We know how important your stimulus …