Direct Deposit for Amended Returns 2021

[abctax55]

@IntuitGabi    @IntuitLisaI  @Intuitjhaze 

Is there ANY chance Lacerte will implement this change for the 2021 software?

Thanks

*************************

Just announced:

New IRS features allows taxpayers electronically filing amended returns to choose direct deposit to speed refunds

In the latest improvement for taxpayers, the IRS announced that people electronically filing their Form 1040-X, Amended U.S Individual Income Tax Return, will for the first time be able to select direct deposit for any resulting refund.

[IRonMaN]

I'm sure they are already working on it 😀

[abctax55]

The IRS released this information yesterday.

I am "EXTREMELY" disappointed that the software is not yet updated.  For what I pay for this software...yada, yada, yada 🤣🤣

[IRonMaN]

You can tell when someone has been around this place for awhile 😁

[TaxGuyBill]

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@abctax55 wrote:

Is there ANY chance Lacerte will implement this change for the 2021 software?

---

I'm thinking you should first ask if there is ANY chance they will implement it in the 2022 software.  😂

[Intuitjhaze]

hey @abctax55 checking in with the team. Sit tight, will keep you posted.

[abctax55]

Thanks, @Intuitjhaze 

I have a client with a large, six figure refund... and DD would be great if it's going to be implemented any time soon.  

[abctax55]

Oh, Bill.... thanks for the laugh.

You're right, but as I don't HAVE any 2022 returns that need amending (yet, that I know of...) I'm not as interested.

[Intuitjhaze]

@abctax55 we will reach out to the product team to see if we have plans to update. Stay tuned.

[sjrcpa]

I seem to recall that refunds over $XXXXX won't be direct deposited for original returns.

Just tried to look it up and got "in some cases, high-value tax refunds may be sent as a paper check instead of a direct deposit. The IRS doesn't publish the threshold for when a check is issued instead of a direct deposit"

[abctax55]

ah.... that now rings a bell.... thanks for looking, Susan.

And, after thinking about it.... getting it filed sooner than later is best, rather than waiting until the software (maybe) is updated.

The delay is going to be the processing of the return - waiting for the check probably won't add significant time.

[loricpa100]

I tried to follow this string - and do not see the "solution" - will this be added to 2021?  I did an amended return a couple of weeks ago and it was not available.  Perhaps now?  Have a client with a much larger refund to come and it would be wonderful to have.  Did Intuit ever get back that it would indeed develop?

[abctax55]

There is no 'solution', yet:

.... we will reach out to the product team to see if we have plans to update. Stay tuned."

In Intuit-speak that means don't call us, we'll call you.   I don't expect this to be implemented for 2021 until after filing season if at all.

[abctax55]

Now ain't THIS interesting ?!?!

@Intuitjhaze @IntuitGabi 

It appears that again Lacerte is left in the dust.

**************

The IRS recently announced they are now allowing direct deposit for electronically filed Forms 1040-X, and Drake Software^® was ready on day one. Drake Tax^® users DO NOT have to wait for a program update to provide direct-deposit services to clients filing amended returns.

[IRonMaN]

But folks pay big bucks for Drake so they expect those kinda things. 😜

[Intuitjhaze]

hey there @abctax55 it looks like direct deposit is avail for TY22 per this help article. However, we're still waiting on an update on availability for TY21.

[sjrcpa]

Woo Hoo!💃

[lweinzapfel]

Any idea when this will be released for 2021 software? Not many taxpayers need to amend a 2022 return just yet.. 

[IRonMaN]

@abctax55  It was nice that BettyJo decided that your question has been solved, especially since you asked about 2021 🤔

[abctax55]

I sent her a thank you note....  /S

And it wasn't BettyJo it was @Intuitjhaze -  and s/he got the 'solve"  .... how is THAT fair???  Cuts into my free points to buy from the Intuit Christmas catalog.

[IRonMaN]

My notifications thingy says BettyJo accepted a solution.  I guess they think we haven't been around long enough to know how to mark something as a solution or else they don't think we are bright enough to figure out if our question has been answered........................................ or the number of solutions on the forum hasn't hit its quota for the week yet so they had to help it along.

[IntuitBettyJo]

Happy Friday!

I'll own it, it was definitely me who updated the solution. I wanted to make sure that this post clearly reflected the most up to date information, in order to help other users who stumble across it later. 

I owe you an accepted solution sir, @IRonMaN ✅

-Betty Jo 

ps. If you have any ideas or feedback on how we can solve for this in the future, I'm all ears.

[abctax55]

Oh... I think you are right.  And she marked HIS as the solution.  I'm having a shaky day today; I may need one of you to post bail for me 😄

[abctax55]

Ummm @IntuitBettyJo 

Maybe don't step in & mark solved when the question was about the year 2021 ?????

I am glad it's working for 2022, but as I haven't screwed up a 2022 return (yet) I don't care.  

And the fact 2022 IS working is completely irrelevant to my OP.

It OK to provide the info that 2022 is working for DD on amended returns but you can do that without marking my post as solved.

[IntuitBettyJo]

Thats fair, I will unmark the solution and we can update accordingly once we have more info on 2021. 

@abctax55 

[abctax55]

If you can edit the 'title' to add the question is for 2021 specifically, feel free.  I think it's been too long for me to do it ... and/or.... I can't figure out how anyway 😞

Thanks

[gwen4114]

This is an old thread, but the issue hasn't been fixed in Lacerte.  Why do we still get the critical warning message that the amended can't be filed with direct deposit?  The IRS allowed this months ago, but Lacerte hasn't fixed it yet?  

[abctax55]

@gwen4114 

The IRS just announced it 3 weeks ago, not months ago.   

I would 'love' to see 2021 updated for this, but just pointing out the facts.

Lacerte "DID" get it going for 2022 returns.

[IntuitGabi]

We heard that the TY21 release yesterday included the direct deposit functionality for amended Federal 1040X filings. Hope this helps!!