Do the IRS Have My Direct Deposit Information?

Understanding IRS Direct Deposit

The realization that your information might be on file with the IRS can be unsettling, especially if you're uncertain about what that means. Here’s a rundown of how the IRS handles direct deposit and how it's relevant to your tax situation, including how you can check.

Providing Direct Deposit Information to the IRS

Direct deposit information is typically provided to the IRS in two common scenarios: when you receive a tax refund or when you apply for a stimulus payment.

1. Tax Refunds: If you ever claimed a direct deposit on a tax refund you received, the IRS would definitely have your routing number on file. This process is usually initiated by including the necessary information on your tax return paperwork.

2. Stimulus Payments: In recent years, many individuals opted for direct deposit when receiving their stimulus payments. If you filled out the required paperwork for stimulus payments, the IRS would have your direct deposit information.

Checking Your Direct Deposit Information with the IRS

If you're unsure whether the IRS has your direct deposit information or you want to confirm it, the following steps can help:

Using the IRS Website

For an official and reliable source, visit the IRS website. Here, you can check your direct deposit information:

Prior to 2021, non-filers could use the 'Non-filer Sign Up' tool. More recent updates include the 'Get My Payment' tool.

On the IRS website, there are typically two options:

Non-filer: Use this section if you haven't filed tax returns for 2018 or 2019, or you believe you might be eligible for a stimulus payment but haven't filed. Get My Payment: Use this section if you have already filed but need to add or update your direct deposit information.

What If I Have No Direct Deposit Information?

For many people, the IRS isn’t in possession of their direct deposit information. This can happen for various reasons:

Lack of a refund. Previous forms did not include direct deposit information.

In such cases, you have a couple of options:

If you haven’t filed your 2018 or 2019 tax returns, it’s crucial to do so. Make sure your direct deposit information is included. If you have filed but have not added direct deposit details, use the 'Get My Payment' tool to update your information.

What About Stimulus Check Allocation?

For individuals who did not receive direct deposit and instead received a paper check, expect a longer wait for your stimulus check. Here’s a timeline:

2020 Stimulus Checks: These were mostly direct deposited. 2021 and 2022 Stimulus Checks: Many recipients received paper checks, though direct deposit options were available.

If your information is not on file with the IRS, you will likely receive a paper check. This process can take several months, as it involves preparing and mailing out physical checks.

Conclusion

Whether or not the IRS has your direct deposit information depends on your previous interactions with the agency. Understanding these processes can help you ensure your tax information is up-to-date and that you receive payments efficiently. Always refer to the official IRS website for the most accurate and current information.