Stimulus rebate / tax refund - What happens to it in bankruptcy?

[Cali]

Has anyone tried the stimulus link today? anyone get paid?

[Bit_Image]

Yes, you would think the IRS would have something on thier site. I only ran into this information after hours of research. Even turbotax had the post about 3 party banks hidden deep within their site. Looks like I should get a paper check by the 16th now..

[justplaintired]

This is exactly what happened to us We thought we were getting it this week til we looked Turbos website today.

We used Taxact, so looks like we are in the same boat. Thought it would be the 2nd, now it looks like it will not even be mailed until May 9th. Just our luck.

Wouldn't you think the IRS would have someone on their staff who could put this info on THEIR site! Instead of having people thinking they would get it sooner rather then later.

[erinmi]

I filed my taxes the first week of February

And yes, EVERY BANK is different about how they handle pending ACH deposits.

Our current bank lists it in a pending items section. Our old bank did not list it until it was actually transferred into our account. Some banks will hold money for 2-3 days for any sort of transfer/direct deposit.

Think back to your tax refund, when was it scheduled to deposit into your bank and when did it show up in your account? That might help give you a timeframe.

I think the IRS got ahead of itself when releasing information about who gets deposits and when. We were all supposed to get a letter stating how they figured our rebate and when it should be deposited but we haven't gotten ours yet, although our rebate is now in our account.

[truckerswife]

Yes, but my credit union is always good about showing "pending" deposits and the date that the money will be available. Nothing. I doubt out trustee has taken it. Our plan was for 36 months but by the time creditors filed it (and didn't file) we were down to about 30. We don't owe back taxes.

[shortee]

This is exactly what happened to us We thought we were getting it this week til we looked Turbos website today.

[Bit_Image]

I found this out today......

What if I paid to file my 2007 taxes with my refund money using Santa Barbara Bank & Trust?



Even if you have received or will receive your tax refund by direct deposit to your bank account, the IRS will not do the same for your tax rebate in this instance. It will mail your rebate instead.

In its preparations for issuing rebates, the IRS decided that taxpayers who entered into financial transactions with third parties, such as Santa Barbara Bank & Trust (the taxpayer and TurboTax being the first two parties), would receive their rebates by mail.

This applies only to TurboTax customers who used the "refund transfer" or RT service when filing their 2007 tax returns. The service lets you pay for your tax preparation and/or e-filing from your refund proceeds, for an additional fee, under an agreement with the bank. This allows customers to pay using their refunds, rather than credit cards.

This IRS decision also applies to taxpayers who used "refund anticipation loans" or RALs (loans made to tax filers against their expected refunds) on their 2007 returns. TurboTax does not offer RALs.

[wooisme]

Unless it depends on when your bank processess it into your account. If they transfered the money into your account midnight (early friday morning) you may not even see it into your bank account until Saturday. EAch bank is different. sometimes it takes three days before transfers show up in your account. Depends on your bank.

[Cali]

There doesn't seem to be one set way they are doing it, it seems to be all over the place.

Us either! Doesn't seem right. I am worrying now, won't do me any good, but I am anyway. We always file, always pay our taxes. I can't understand why we haven't gotten it yet. Maybe there is some other formula they are using to determine when then deposit them. According to the original schedule, we should have had it deposited today.

[krielly]

Um, beginning of Feb, I think.

[justplaintired]

Now this is really not making sense to me. We file 2/23, no bk filed yet and 06 last 2 digits. Still we don't have anything.

Us either! Doesn't seem right. I am worrying now, won't do me any good, but I am anyway. We always file, always pay our taxes. I can't understand why we haven't gotten it yet. Maybe there is some other formula they are using to determine when then deposit them. According to the original schedule, we should have had it deposited today.

[Cali]

Now this is really not making sense to me. We file 2/23, no bk filed yet and 06 last 2 digits. Still we don't have anything.

I did my taxes 2/28/08 and i filed bankrutpcy chapter 13 on 12/19/06

[wooisme]

I did my taxes 2/28/08 and i filed bankrutpcy chapter 13 on 12/19/06

[Cali]

For all those that got it, when did you file?

[justplaintired]

Ok, I called my bank and was told by them that it wouldn't show until tomorrow if it's direct deposit today, wouldn't show until midnight tonight. Part of being with a small town bank. There system isn't as advanced I guess. We still don't have online banking but they are working on that and it should happen this month sometime. Anyway, no check here.