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do they have my banking info?

I keep hearing/reading if your banking info is "on your return"... they have your info & you'll get early/faster electronic deposit. My returns haven't for a 4-5 years had this info "on my return". But I do pay ES through EFTPS. My payments through EFTPS (from my bank) are tied to my SSN, as is obviously my 1040. They deducted Q4 2019 on 15 Jan 2020.

So they should have my info, right? <- rhetorical. But its the guv'mt too, I don't see this going all that smoothly. I'll see in a couple weeks if the 2 matched up for an electronic deposit.


I don't think so. The language in the law (CARES Act, Section 2201) states that the IRS will use the account which was indicated to receive a refund in 2018 or 2019 or which receives SS monthly benefits. Language in other IRS "publications" (that is, website pages, FAQs, etc,, not a formal IRS Publication) expands that to accounts included on tax returns to fund payments of tax liability. Nowhere do I see any reference to EFTPS or payments entered via IRS direct pay. While that information "could" be used, Congress' intent was to make the process as quick as possible, not as complete as possible.

I would use the tool the IRS is developing for taxpayers to enter their account info when (if?) it is released.

Ira
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