1) A lot of IRS offices, including call centers, are closed right now because of stay at home orders. Most IRS call center employees do not have work from home authorization. So if on a regular weekday when most call center employees are staffing those lines, they have hold times of 45 min to 4 hours, right now, your looking at day long hold times to ask for something they're not going to do anyway. 2) If the bank account and routing number isn't on the tax return when it's submitted, IRS WILL NOT add it later. The 1040 phone line doesn't accept checking account info for any reason, other than to verify what has already been submitted. Even if you are setting up an installment agreement (payment agreement) and want the payment automatically debited from your checking account. In that case, you have to set the agreement up online, or send in a form with your signature authorizing the automatic debits. Any process with IRS no matter how simple it may seem, generally takes 4-16 weeks, sometimes longer.
I work the line you provided at the irs. We can not change or input your banking information. If your bank account or routing number is incorrect the money will be sent back to the irs and a paper check will be issued. Expect up to one week for the money to be returned to the irs and up to another 4 weeks to receive a paper check at your address on record.
Kevin, I have enjoyed your videos for quite a while. Today... I finally click SUBSCRIBE... and I don't even know what that does because I've never subscribed to anyone's youtube channel. I looked at my husband various times during this video and said, "Oh cool, I already did that," but the fact that you're helping people so extensively without that ethereal "guru" mumbo-jumbo vagueness of so many of the youtube personalities, and you're giving concrete ways for all of us to be more financially secure RIGHT NOW, makes it so obvious that you deserve it. I love Graham too, so I might subscribe to his channel soon, but we'll see. What you got for us, Graham? ;)
@@JasonWalter1 18 yes. 19, no. but i heard from a tax consult that ultimately even if you receive check based on 18 income, they will go back and make you repay it if your 19 income is greater than 75K (when you file 20 returns). so that puts me out
@@JasonWalter1 it's still weird tho bc i used the "Stimulus Check calculator" and entered a sample salary of $95K, and stated that i did file my 2019 taxes, claiming head of house, and it said it would still get $1200....
@@goodtrouble841 how strange. Did you add a qualifying child when you did that calculator? It phases out the stimulus check money if you make over $99k for single filer so you would barely get any money with no kids with an income of $95k.
Glad I already filed my taxes for 2019 before this whole virus thing. Paid in full, I’ll be investing that money! My emergency fund is good. So glad I saved $$ lmao thanks for the vids Kevin.
I had my only transportation (800$ ebike) stolen last week. I was in the middle of an upgrade so I have another bike. I bought the kit (762$) so I can get my transportation back so I can get to work when it starts back up. My check is going towards security for my bike and rent
@@donaldlee6760 need to save up for a battery but it's going to be 3000w motor with 72v 80A controller giving 5760w of power. Enough to go 60mph. It's a fat bike. When it's done I'm posting a video of it
Gordias Gordian Facts & everybody’s losing their mind taking advice from some dumb ass who comments on RUclips like every other person saying the checks/direct deposits aren’t coming just do your own research & trust nobody’s research but your own it’s that simple
If you filed a 2018, 2019 tax return and you selected direct deposit you need to do nothing. you will get your money fastes As long as the irs has your bank info (routing, account number) you will get your money. Be aware though, that if you did not file in the last couple of years and were not exempt, it may take longer to get your money, also, if you have a child and you are divorced and are behind on your support payments, the state inwhich you live will intercept your stimulus money and apply it to your arrearages
Well I filed my 2019 taxes a few weeks back but my CPA never got my account info so now I’m waiting for paper check for tax return and who knows where that puts me for stimulus. Thank you CPA professional.
Here early so I’ll take the chance to shoutout kevin !! Even though I’m fortunate enough not to need the assistance. I’m still thankful there are people in the world who are just generally trying to help others.
Kevin I fell asleep watching your video last night just to be surprised as I’m drinking my coffee and you throw out another video. You’re crazy fast! You don’t even seem tired lol
Wow signing up for direct deposit really does come in handy for all situations I guess, I came to this video thinking I needed to take extra steps for this stimulus check but I guess not! Thank you!
Kevin, I filed my tax return last month. I filed jointly with my wife and I got the refund deposited on my personal checking account. My wife doesn’t work due to disability so I’m only the one who works and in the past 3years we’ve filed jointly but the refund has come to my checking account. Will I get the 2400$ deposit on my account or do I need to do something about that? Thank you
@@MeetKevin Video idea. FREEBIES DURING THE LOCKDOWN. I got DVD.com a netflix company, 30 days free. When done I will get Roku Channel: (deals ends in OCT.) EPIX 30 days free... then after Showtime 30 days free. I bet there is so much more to be had for FREE!!
@@MeetKevin Do u know if I will get the extra 500$ for my daughter because in 2019 she was 16 years old half of the year she turned 17 in July will I still get the extra 500$ if you know please let me know k thanks
I've used the free version of turbo tax to file, and have never had to pay to file taxes, and my income is above the mentioned 69,000. Also, it's really simple, and from the looks of it, very similar to the H&R process
You are so quick and smart!! I just filed my taxes, but I realized that there is definitely some age and income discrimination at the irs.gov free file site. I would like to know why people of certain age don't qualify and it's not fair for single, older, 70K and higer income earners to have to pay while others don't. Not fair.
If you havent filed your 2019 tax return, you can also make an account on the IRS website and update your address so they will send the check directly there if you're concerned that they don't have your direct deposit or correct address on file
Kevin, I have a question tho, have they decided on if you owe child support if you'll get a check or garnish it for a payment? My fiance owes in back child support and he pays every week on it still, including tax returns if there is any. Thank God he's still working but I'm not and I'm stuck at home with our 2 kids we have together. It's only back paid support since his son is 20 now but we were wondering if it's true or only being talked about still. I thought once the bill is signed, that's it. No more changes. But I'm seeing on different sites they are and some aren't saying anything at all. And I'm also hearing about how this is a early credit for next year's tax credits (as far as the $500 ea child) and I'm wondering if that's gonna change how taxes are done next year. It's definitely getting complicated that's for sure. Keep the facts coming and I love the ideas you're sharing. Please, no judgement anybody, my fiance is an amazing man and father and his ex wife did him wrong, but since I've been in the picture we've been getting it taken care of because the whole thing sent him into a deep hole that just about killed him. And trust me, I'm not just taking his side, she did it to her other ex husband now as well with their kid.
We're in the same situation. I'm praying we see this stimulus check, at least mine and our kids portions. It wouldn't be right to take from me and our babies just to pay back child support whenever everyone needs this money right now during this crisis.
On the overlooked page 203 of the recently passed 880 page bill, there's a provision that allows for wealthy investors to use losses generated by real estate to minimize taxes on profits from other things, like capital gains. Over 10 years, the cost of the change is slated to be $170 billion, according to the New York Times. Under the current tax code, when real estate investors generate losses from writing down the value of their properties, they can use some of those losses to offset other taxes. But the 2017 tax cut package limited some of those losses to shelter $500,000 of a married couple's non-business income. Leftover losses got rolled out to subsequent years. The new bill lifts the $500,000 cap.
Hey Kevin considering how fast moving this pandemic is going and how any number of scenarios could arise that could vastly affect the greater economy and also real estate prices and investing, do you foresee any changes to your real estate investing course curricula going forward? I’m kicking myself for not jumping on this when it came out last year. I’m a bit nervous about how this lockdown is going to play out in the economy, especially if it drags on beyond April.
Kevin: Great video. Glad I found you online. BIG question: your RTR and account number are only on your 1040 if you are getting a refund. Not everyone likes to loan the government their money all year long, and wind up paying in April. So the IRS will just use the address on our 1040, right? Still nothing we'd have to do?
Kevin, Please do a video on the 401k withdraw in the bill that allows your to pull out penalty free. Id like to know your take on doing that and using the money for other investments vs leaving it in there and waiting to pull out at 59.5?
Do you think you'll make more or less money when you retire? While you don't have to pay the penalty on it, you will still have to pay the applicable income taxes on it. Luckily you can stretch those taxes out over 3 years. Let's say you pull out the full 100k with no extra penalty...well now you have extra income for 2020 that bumped you out of receiving that 1200 stimulus check...After all, the stimulus check is against your 2020 taxes and they are only using the 2019 and 2018 as an estimate. You might have to pay the 1200 stimulus check back AND you'll be in a higher income tax bracket when you file your 2020 taxes. Then you'll have to try to reinvest it as quickly as possible to prevent losing money if the market turns abruptly upward. The timing for the sale then the transfer then a repurchase carries risk. Is it worth all the hassle? probably not unless you really need the extra cash.
IRS Policy You can request a direct deposit of your income tax refund into an account that is in your name only. You can also arrange for a direct deposit into an account that is owned by your spouse, provided that you filed a joint income tax return. You can also ask for a direct deposit of your income tax refund into a joint account that you are listed as an owner of, regardless of your filing status. You cannot request a direct deposit of an income tax refund into an account that is not owned by either you or your spouse, such as another relative's account.
IRS will be having a website portal out soon for those who wish to provide their account info to receive the check faster instead of a check on the mail.
It's probably too late honestly. The portal may be up by mid May but if it's like every other govt portal it will get inundated with requests and constantly crash
Kevin, I filed thru H&R Block, the direct deposit went to them first, for them to take out fees, but then was deposited into my account, what will happen to my check?
Hey Kevin, love the content. I’ve been watching your videos everyday for awhile. I’m curious if I filed my taxes jointly with my wife and we already got our return in my personal bank account, do you think I still have to change my bank and routing number to a joint account? Thanks a lot, and continue the great content.
So the stimulus check is just going to be deposited in your account? Without any notification? So you look at your account 3 weeks from now. And you have more in there than the day before?
No need to make that lengthy phone call to the IRS. Apparently there will be a temporary website set up by the IRS in the coming week or so to update direct deposit info. I saw this explained on the nightly news 3 nights ago. I checked online today but it says they are still working on getting the site set up
Hello there thanks for the great info. I have an issue that wasn't covered in the video and that is that I already got my tax return over a month ago but my banking information has changed as i closed the account for security reasons and opened a new account with a different bank. The IRS has the old banking info and will send it to that account and it will be rejected. How do I make sure the IRS has my new bank info? I tired calling but their phone lines are closed and not servicing calls atm. Am I just screwed?
Hey I just wondered that also and read a lengthy comment a few above yours while guy said you can File even if made ZERO INCOME! And then your info will be in the system but I dont know how or where to do that, so I am going to inquire @ local H n R office.
So I filed my 2019 taxes and got my refund already. I included my direct deposit info. but the deposit was returned by my bank because my legal name and the name I have on file with them didn't match (used my middle name). And I ultimately got a check in the mail. So my question is: Will the IRS still direct deposit my stimulus check or mail it?
My question about the deposit kevin is: my tax returns came to my bank account and that's only my account. My wife is not in there. Can the check still be rejected if both my wife and my tax return came to my bank
ATTENTION EVERYONE: YOU NEED TO GO TO IRS.GOV AND CREATE AN ACCOUNT. IT'S SIMPLE AND FAST. THEN YOU WILL ALWAYS HAVE ALL YOUR TAX INFORMATION AT YOUR FINGERTIP!!
I loved your channel before, but right now you’re a freaking information HUB! Don’t need to go anywhere else for information. I love it!!!! Thank you 🙏
KEVIN IS ON 🔥🔥🔥👍 KEVIN...IN 2019 MY WIFE & I filed a joint return. We have 4 kids and our oldest daughter is 18, she filed her very 1st tax return but we were able to claim her on our return, she however received a direct deposited federal tax refund and a state tax refund paper check. What will we qualify for under the stimulus package? $2400 + ($500*3) or($500*4), or will our 18 yr old daughter qualify for her own $1200 stimulus check? I could really use some advice.
PLEASE ANSWER THIS QUESTION . IF THE NONCUSTODIAL PARENT THAT OWES CHILD SUPPORT QUALIFIES FOR THE STIMULUS CHECK, WILL IT GET INTERCEPTED BY CHILD SUPPORT AND BE GIVEN TO THE CUSTODIAL PARENT.
those who are behind in their child support either might not qualify or see the amount of their check significantly reduced, Grassley said // from a news article
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1) A lot of IRS offices, including call centers, are closed right now because of stay at home orders. Most IRS call center employees do not have work from home authorization. So if on a regular weekday when most call center employees are staffing those lines, they have hold times of 45 min to 4 hours, right now, your looking at day long hold times to ask for something they're not going to do anyway.
2) If the bank account and routing number isn't on the tax return when it's submitted, IRS WILL NOT add it later. The 1040 phone line doesn't accept checking account info for any reason, other than to verify what has already been submitted. Even if you are setting up an installment agreement (payment agreement) and want the payment automatically debited from your checking account. In that case, you have to set the agreement up online, or send in a form with your signature authorizing the automatic debits.
Any process with IRS no matter how simple it may seem, generally takes 4-16 weeks, sometimes longer.
I work the line you provided at the irs. We can not change or input your banking information. If your bank account or routing number is incorrect the money will be sent back to the irs and a paper check will be issued. Expect up to one week for the money to be returned to the irs and up to another 4 weeks to receive a paper check at your address on record.
Kevin you should make a "how I would spend my stimulus check" that would be cool!
He already did, I swear I just watched it yesterday or the day before
Super Mike I think he did too whoops gotta to watch it lol
Strippers and cocaine
Blackjack and hookers
Good video idea... hmmm 🤔 Although I think he already made that video on his channel.
Everytime i open youtube uncle kevin is stimulating the algorithms i see🤣🤣🤣👉👌🤙🤙🤙
companies cannot buy shares, but we can! have a great one! stay safe!
2:30 copy of 2019 tax return
4:45 call IRS Hotline to add bank account and routing number
Have your SS # (also joint filer)
9:05 file for free online
Even though he got a little click baity in the beginning of 2020 he’s still my favorite person on RUclips. I forgive you Kevin.
Kevin, I have enjoyed your videos for quite a while. Today... I finally click SUBSCRIBE... and I don't even know what that does because I've never subscribed to anyone's youtube channel. I looked at my husband various times during this video and said, "Oh cool, I already did that," but the fact that you're helping people so extensively without that ethereal "guru" mumbo-jumbo vagueness of so many of the youtube personalities, and you're giving concrete ways for all of us to be more financially secure RIGHT NOW, makes it so obvious that you deserve it. I love Graham too, so I might subscribe to his channel soon, but we'll see. What you got for us, Graham? ;)
FYI: IRS live customer service is closed down until further notice. so you can’t call to add routing info...
manaz olujimi guess you’ll have to wait for them to add their web based portal. But did you already do your 18 and 19 taxes already?
@@JasonWalter1 18 yes. 19, no. but i heard from a tax consult that ultimately even if you receive check based on 18 income, they will go back and make you repay it if your 19 income is greater than 75K (when you file 20 returns). so that puts me out
manaz olujimi yes I heard the same thing
@@JasonWalter1 it's still weird tho bc i used the "Stimulus Check calculator" and entered a sample salary of $95K, and stated that i did file my 2019 taxes, claiming head of house, and it said it would still get $1200....
@@goodtrouble841 how strange. Did you add a qualifying child when you did that calculator? It phases out the stimulus check money if you make over $99k for single filer so you would barely get any money with no kids with an income of $95k.
Great info Kevin! Thanks for sharing!
*Taxes already filed so waiting for my free money, plus my kid's money, to turn around and invest it.* 😉
Build a Bunker. Trust me we are going to need it. ☄
I’m trying to get my mom to give me 500$ to invest it
That's not free money
If you filed before all of this will the check come on its own? Or we still need to fill out a form?
You mean your own money
Glad I already filed my taxes for 2019 before this whole virus thing. Paid in full, I’ll be investing that money! My emergency fund is good. So glad I saved $$ lmao thanks for the vids Kevin.
Same for me, best time to invest in the stock market in companies that you know will be around later.
I had my only transportation (800$ ebike) stolen last week. I was in the middle of an upgrade so I have another bike. I bought the kit (762$) so I can get my transportation back so I can get to work when it starts back up. My check is going towards security for my bike and rent
@@vexvesper - I'm building up a (non-ebike) bike too. It's next to me in my living room as I type this. Is yours a kit to convert a normal bike?
@@vexvesper would be a lot harder getting a car stolen, 800$ gone and you'll probably never see that bike again.
@@donaldlee6760 need to save up for a battery but it's going to be 3000w motor with 72v 80A controller giving 5760w of power. Enough to go 60mph. It's a fat bike. When it's done I'm posting a video of it
Wow learned more about forms from you right now, than from the place I filed my taxes with, very informative thank you Kevin!!!
Thanks for making this video Kevin, I think a lot of people will be getting short on money soon and will start to get worried
Thomas James - Property Investing the stimulus checks will hopefully help
Kevin you are non stop! Thank you bro!
Always Vicent!
From irs.gov -
Stimulus payment checks: No information available yet, No sign-up needed
Instead of calling, please check back for updates.
Gordias Gordian Facts & everybody’s losing their mind taking advice from some dumb ass who comments on RUclips like every other person saying the checks/direct deposits aren’t coming just do your own research & trust nobody’s research but your own it’s that simple
3rd... Love your YT channel. KEVIN KEEP IT UP
I filed my taxes the first day it was open, now it’s a matter of time before I go invest in Ccapital
“Taking that sweet cash flow home”. Liking that!!!
Thx u bro favor over you my dude
If I already filled, is there anything I need to do or do I automatically receive it
BR1967FE there’s no sign up needed per the IRS website 👍
If you filed a 2018, 2019 tax return and you selected direct deposit you need to do nothing. you will get your money fastes As long as the irs has your bank info (routing, account number) you will get your money. Be aware though, that if you did not file in the last couple of years and were not exempt, it may take longer to get your money, also, if you have a child and you are divorced and are behind on your support payments, the state inwhich you live will intercept your stimulus money and apply it to your arrearages
Well I filed my 2019 taxes a few weeks back but my CPA never got my account info so now I’m waiting for paper check for tax return and who knows where that puts me for stimulus. Thank you CPA professional.
*How to get Kevin to post as FAST as possible*
Here early so I’ll take the chance to shoutout kevin !! Even though I’m fortunate enough not to need the assistance. I’m still thankful there are people in the world who are just generally trying to help others.
zack ford I honestly agree that Kevin is trying to help others 😊
Brendolyn Taylor not to mention this is just theft of future wealth
Kevin I fell asleep watching your video last night just to be surprised as I’m drinking my coffee and you throw out another video. You’re crazy fast! You don’t even seem tired lol
You're popping these videos out faster than Jimmy Johns delivers subs.
FYI, You can be on hold with the IRS for an hour. I was told by an IRS agent once , to call early in the morning.
Wow signing up for direct deposit really does come in handy for all situations I guess, I came to this video thinking I needed to take extra steps for this stimulus check but I guess not! Thank you!
Kevin is lvl 99 finance
max stat baby! :D :P
Wow! You are pushing out so much stimulus info. Thank you and I hope you keep this up.
Kevin, I filed my tax return last month. I filed jointly with my wife and I got the refund deposited on my personal checking account. My wife doesn’t work due to disability so I’m only the one who works and in the past 3years we’ve filed jointly but the refund has come to my checking account. Will I get the 2400$ deposit on my account or do I need to do something about that? Thank you
Kevin, you are the man. Appreciate your timely posts. This is very helpful. Keep it up.
Kevin is gloriously awesome. Thanks much
Kick ass dude! Thanks for the calculator link
Dude 19 seconds posted and im already watching lmao
fast!
@@MeetKevin Video idea.
FREEBIES DURING THE LOCKDOWN.
I got DVD.com a netflix company, 30 days free.
When done I will get Roku Channel: (deals ends in OCT.)
EPIX 30 days free... then after Showtime 30 days free.
I bet there is so much more to be had for FREE!!
@@MeetKevin Do u know if I will get the extra 500$ for my daughter because in 2019 she was 16 years old half of the year she turned 17 in July will I still get the extra 500$ if you know please let me know k thanks
@@MeetKevin I filed, gave my account info, its been accepted, but I owed. Still used my account for payment, will I receive mine as well
Hey Kevin, thank you for all the great information that you provide on this channel. Keep up the good work!
I've used the free version of turbo tax to file, and have never had to pay to file taxes, and my income is above the mentioned 69,000. Also, it's really simple, and from the looks of it, very similar to the H&R process
Finally, an answer! Excellent info Re adding direct deposit if you already filled your 2019's
I am committed to self-development and thriving.
I’m literally writing a RUclips video outline for the same topic right now! You beat me to it 😂😂
Jason Walter you came here for some content, it’s cool
@@chief5981 Yes, I've been following Kevin for a while now. Love his channel and the value he brings.
You are so quick and smart!! I just filed my taxes, but I realized that there is definitely some age and income discrimination at the irs.gov free file site. I would like to know why people of certain age don't qualify and it's not fair for single, older, 70K and higer income earners to have to pay while others don't. Not fair.
To receive any money at all, do you have to be full time, or do part-time employees also receive the money?
Chris Boger I believe people can receive it even if they don’t have any taxable income. Please verify with your CPA though
If you filed before all of this will the check come on its own? Or we still need to fill out a form?
Tremendous info and resources. Thank you
If I start getting my unemployment benefit ( hopefully soon) do I apply again to get the $600?
If you havent filed your 2019 tax return, you can also make an account on the IRS website and update your address so they will send the check directly there if you're concerned that they don't have your direct deposit or correct address on file
Thank you bro!!! Really had me stressed and wasn't putting my hopes up for it..
Kevin, I have a question tho, have they decided on if you owe child support if you'll get a check or garnish it for a payment? My fiance owes in back child support and he pays every week on it still, including tax returns if there is any. Thank God he's still working but I'm not and I'm stuck at home with our 2 kids we have together. It's only back paid support since his son is 20 now but we were wondering if it's true or only being talked about still. I thought once the bill is signed, that's it. No more changes. But I'm seeing on different sites they are and some aren't saying anything at all. And I'm also hearing about how this is a early credit for next year's tax credits (as far as the $500 ea child) and I'm wondering if that's gonna change how taxes are done next year. It's definitely getting complicated that's for sure. Keep the facts coming and I love the ideas you're sharing. Please, no judgement anybody, my fiance is an amazing man and father and his ex wife did him wrong, but since I've been in the picture we've been getting it taken care of because the whole thing sent him into a deep hole that just about killed him. And trust me, I'm not just taking his side, she did it to her other ex husband now as well with their kid.
We're in the same situation. I'm praying we see this stimulus check, at least mine and our kids portions. It wouldn't be right to take from me and our babies just to pay back child support whenever everyone needs this money right now during this crisis.
What if you haven't yet filled your 2019 tax return info at: 8:38
What if you are waiting and utilizing the new file deadline extension info at: 12:38
On the overlooked page 203 of the recently passed 880 page bill, there's a provision that allows for wealthy investors to use losses generated by real estate to minimize taxes on profits from other things, like capital gains. Over 10 years, the cost of the change is slated to be $170 billion, according to the New York Times.
Under the current tax code, when real estate investors generate losses from writing down the value of their properties, they can use some of those losses to offset other taxes. But the 2017 tax cut package limited some of those losses to shelter $500,000 of a married couple's non-business income. Leftover losses got rolled out to subsequent years. The new bill lifts the $500,000 cap.
Is there a way i can change my direct deposit? Should I contact IRS
Great info Kevin.
You're Awesome Dude!!! THANK YOU KEVIN🙏❤️❤️💕💖
Lol literally just got the notification and there are over 1k views and 60 comments...
Is this $1,200 an advance on next years return? Is this like a loan or is it actual ly free money
Hey Kevin considering how fast moving this pandemic is going and how any number of scenarios could arise that could vastly affect the greater economy and also real estate prices and investing, do you foresee any changes to your real estate investing course curricula going forward? I’m kicking myself for not jumping on this when it came out last year. I’m a bit nervous about how this lockdown is going to play out in the economy, especially if it drags on beyond April.
I did this last night.
smart!
About Webull, do I need to finish the application process in 24 hours to get the 1st free stock and put$100 to get the 2nd free stock?
Kevin: Great video. Glad I found you online. BIG question: your RTR and account number are only on your 1040 if you are getting a refund. Not everyone likes to loan the government their money all year long, and wind up paying in April. So the IRS will just use the address on our 1040, right? Still nothing we'd have to do?
Kevin, Please do a video on the 401k withdraw in the bill that allows your to pull out penalty free. Id like to know your take on doing that and using the money for other investments vs leaving it in there and waiting to pull out at 59.5?
Do you think you'll make more or less money when you retire? While you don't have to pay the penalty on it, you will still have to pay the applicable income taxes on it. Luckily you can stretch those taxes out over 3 years. Let's say you pull out the full 100k with no extra penalty...well now you have extra income for 2020 that bumped you out of receiving that 1200 stimulus check...After all, the stimulus check is against your 2020 taxes and they are only using the 2019 and 2018 as an estimate. You might have to pay the 1200 stimulus check back AND you'll be in a higher income tax bracket when you file your 2020 taxes. Then you'll have to try to reinvest it as quickly as possible to prevent losing money if the market turns abruptly upward. The timing for the sale then the transfer then a repurchase carries risk. Is it worth all the hassle? probably not unless you really need the extra cash.
IRS Policy
You can request a direct deposit of your income tax refund into an account that is in your name only. You can also arrange for a direct deposit into an account that is owned by your spouse, provided that you filed a joint income tax return. You can also ask for a direct deposit of your income tax refund into a joint account that you are listed as an owner of, regardless of your filing status. You cannot request a direct deposit of an income tax refund into an account that is not owned by either you or your spouse, such as another relative's account.
I knew that kid I had would come in handy one day 😂😂 (jk)
LOL I told Jack that yesterday hahhahaha
not jk
The Cash Compass 🤣😂🤣
How long will it last?
Can they mail the check to you or do you need a bank account?
Turbotax must have know you were talking about taxes in this video, I got too many ads from them with their stupid tax people song!
Some news paper is what I keep seeing!🙄🙄🙄
DR. THRIVE epoch times?
@@officialasim6772 Yup!
HATE THAT FCKIN DANCE!! LMAO
What if I just filed my taxes but reguested a paper check. Can I switch it to direct deposit
IRS will be having a website portal out soon for those who wish to provide their account info to receive the check faster instead of a check on the mail.
It's probably too late honestly. The portal may be up by mid May but if it's like every other govt portal it will get inundated with requests and constantly crash
@@Melissa_Badhorse Thank you
@@doodlez2439 Thank you
Tried your advice, the IRS says this isn’t how you do it
Same here, they told me they are not able to add my routing and account number.
Do tell, Melanie. Will you please share what you had found out? TY.
Kevin, I filed thru H&R Block, the direct deposit went to them first, for them to take out fees, but then was deposited into my account, what will happen to my check?
Straight to your account. They simply E File your return for you
What about if you haven't filed any taxes since 2016? Would I still get something?
Don't even need to watch it all to know it is amazing content!
Hey Kevin, love the content. I’ve been watching your videos everyday for awhile. I’m curious if I filed my taxes jointly with my wife and we already got our return in my personal bank account, do you think I still have to change my bank and routing number to a joint account? Thanks a lot, and continue the great content.
You should be good dude. Your ahead of the curve
Parker Cermak disregard, I answered you before I really watched the video. Sounds like you screwed up man, sorry!
Kevin Meets Casey neistat video every day🤣 keep it up Kevin I'm loving it just joking
If i filed my taxes through HR block last year will my stimulus check go onto my HR block card or will it go directly into my account?
I'm in love with this guy's financial intelligence. Lol
So the stimulus check is just going to be deposited in your account? Without any notification? So you look at your account 3 weeks from now. And you have more in there than the day before?
No need to make that lengthy phone call to the IRS. Apparently there will be a temporary website set up by the IRS in the coming week or so to update direct deposit info. I saw this explained on the nightly news 3 nights ago. I checked online today but it says they are still working on getting the site set up
Hello there thanks for the great info. I have an issue that wasn't covered in the video and that is that I already got my tax return over a month ago but my banking information has changed as i closed the account for security reasons and opened a new account with a different bank. The IRS has the old banking info and will send it to that account and it will be rejected. How do I make sure the IRS has my new bank info? I tired calling but their phone lines are closed and not servicing calls atm. Am I just screwed?
What about for those who hasn't make any taxes in like 4 years?
Hey I just wondered that also and read a lengthy comment a few above yours while guy said you can File even if made ZERO INCOME! And then your info will be in the system but I dont know how or where to do that, so I am going to inquire @ local H n R office.
@LeonDon^^^
FreeTaxUSA is $15 Fed and State for over $69K
Kevin,
FYI -
The IRS is not open or at least the customer service 800# is not available.
So I filed my 2019 taxes and got my refund already. I included my direct deposit info. but the deposit was returned by my bank because my legal name and the name I have on file with them didn't match (used my middle name). And I ultimately got a check in the mail. So my question is: Will the IRS still direct deposit my stimulus check or mail it?
omeer rahman your probably going to get a check in the mail, I imagine they will go off the same data they did with the first check.
My question about the deposit kevin is: my tax returns came to my bank account and that's only my account. My wife is not in there. Can the check still be rejected if both my wife and my tax return came to my bank
Great video!
Will the irs use your back info from your state tax?
Love your videos
what if we file jointly but only one of us is named on the account but the IRS refund still went through back in February?
It will be deposited into the account used on the tax return.
You can still get the check mailed to you right ?
@Kevin ,
What about if I didn't get refund in 2018, but I paid my taxes from my bank account ( Check) ?
I'm assuming M1 does a credit check before opening an account?
Thanks Kevin !!!!
Credit Karma is completely FREE... no income limits...both federal and state.
ATTENTION EVERYONE: YOU NEED TO GO TO IRS.GOV AND CREATE AN ACCOUNT. IT'S SIMPLE AND FAST. THEN YOU WILL ALWAYS HAVE ALL YOUR TAX INFORMATION AT YOUR FINGERTIP!!
This is true. However, you will still not be able to add your checking account information to receive this "stimulus" payment faster.
@@The1TrueEmpress I know. but not 100% sure anyway. just a thought
I called the 800 number and they are actually closed, which option should I choose to get through to put my bank information in?
I loved your channel before, but right now you’re a freaking information HUB! Don’t need to go anywhere else for information. I love it!!!! Thank you 🙏
So do you both have to be on the acct if it’s the one they sent your refund to?,
KEVIN IS ON 🔥🔥🔥👍
KEVIN...IN 2019 MY WIFE & I filed a joint return. We have 4 kids and our oldest daughter is 18, she filed her very 1st tax return but we were able to claim her on our return, she however received a direct deposited federal tax refund and a state tax refund paper check.
What will we qualify for under the stimulus package? $2400 + ($500*3) or($500*4), or will our 18 yr old daughter qualify for her own $1200 stimulus check?
I could really use some advice.
Did direct deposit for taxes should get it faster than if opt for check
YES!
when has a paper check been faster than direct deposit?
PLEASE ANSWER THIS QUESTION
. IF THE NONCUSTODIAL PARENT THAT OWES CHILD SUPPORT QUALIFIES FOR THE STIMULUS CHECK, WILL IT GET INTERCEPTED BY CHILD SUPPORT AND BE GIVEN TO THE CUSTODIAL PARENT.
those who are behind in their child support either might not qualify or see the amount of their check significantly reduced, Grassley said // from a news article
2019 taxes filed and put on a netspend card, will my stimulus check be on the netspend card ?
Wondering this as well. Signs are pointing to no as of now.
According to the IRS, you will receive funds deposited directly into the same banking account reflected on the return filed.
Yep
Yep
I applied for state's unemployment already, but do I apply again to receive the extra $600 weekly?
Depends on what you put on your claim for unemployment if you certify it will be added ontop what you're already getting paid for weekly
What should someone do if they’ve never had taxable income but need the stimulus check?
Can you file an amended return and add that information?