TurboTax Stimulus Registration: How It Works + WalkthroughCOVID-19
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Today TurboTax rolled out a “stimulus registration” webpage that people who haven’t filed a 2018 or 2019 tax return and who aren’t on Social Security can use to file a simple 2019 tax return with the information the IRS needs to roll out their stimulus payments.
I walk through this process, step-by-step, in this video.
What Is TurboTax Actually Doing?
Now, they really don’t make this abundantly obvious before you actually get into it, but what TurboTax is actually doing here is filing a simple 2019 tax return for you on your behalf, which is something you could do on your own.
Also, the IRS said they’re coming out with their own portal where you can input your stimulus information if you need to, and this simple stimulus tax filing through TurboTax is not that official IRS portal.
Who Is This For?
This TurboTax portal is for:
- Those who are not required to file a tax return and so did not file a 2018 or 2019 tax return except for Social Security recipients who do not need to communicate eligible dependents to the IRS for stimulus purposes. Note that this includes Supplemental Security Income (SSI) recipients and veterans benefits recipients. I wish the government had served you better here, but what it looks like as of today — and this could change tomorrow — is that you’re going to have to jump through a hoop to get your stimulus payment. And TurboTax has created its own hoop for you.
This TurboTax portal is not for:
- Those who already filed their 2018 and/or 2019 tax returns and got their refund via direct deposit. If this is you, you’re good — the IRS already knows if you’re eligible and has your direct deposit information.
- Those who already filed their 2018 and/or 2019 tax returns but didn’t put direct deposit information on it. These individuals will have to wait for the IRS portal to roll out.
- Those on Social Security who do not need to communicate eligible dependents to the IRS for stimulus purposes.
Should You Use This?
This is obviously brand recognition for TurboTax.
And from your perspective, what’s the downside?
You will be giving TurboTax your data.
They will use it in some way, shape or form, but of course they do not share tax return data with anyone but the IRS.
But regardless they will have it, and they will likely use it in some way, shape or form.
TurboTax has great security — I’m not bashing it at all — but no company’s perfect.
So I would say if this portal is for you and want to maximize your chances of getting this stimulus ASAP, take the time to fill out this TurboTax stimulus registration webpage today.
But if you’re not comfortable with sharing your data in this way, wait for the IRS portal to roll out.
Logan is a practicing CPA, Certified Student Loan Professional, and founder of Money Done Right, which he launched in July 2017. After spending nearly a decade in the corporate world helping big businesses save money, he launched his blog with the goal of helping everyday Americans earn, save, and invest more money. Learn more about Logan.