Direct deposit is the fast, easy and safe way to receive your tax refund.
Whether you file electronically or on paper, direct deposit gives you access to
your refund faster than a paper check.
Here are four reasons more than 80 million taxpayers chose direct deposit in
- Security. Every year
the U.S. Postal Service returns thousands of paper checks to the IRS as
undeliverable. Direct deposit eliminates the possibility of a lost, stolen or
undeliverable refund check.
- Convenience. With direct deposit, the
money goes directly into your bank account. You will not have to make a special
trip to the bank to deposit the money yourself.
- Ease. It’s easy to choose direct deposit.
When you are preparing your tax return, simply follow the instructions on the
tax return or in the tax software. Make sure you enter the correct bank account
and bank routing transit numbers.
- Options. You can deposit your refund into more than one account. With the split refund
option, taxpayers can divide their refunds among as many as three checking or savings
accounts and up to three different U.S. financial institutions. Use IRS Form
8888, Allocation of Refund (Including Savings Bond Purchases), to divide your
refund. If you are designating part of your refund to pay your tax preparer, you
should not use Form 8888. You should only deposit your refund directly into
accounts that are in your own name, your spouse’s name or both if it’s a joint
Some banks require both spouses’ names on the account to deposit a tax refund
from a joint return. Check with your bank for their direct deposit
Check the instructions in your tax form for more information about direct
deposit and the split refund option. Helpful tips on both are also available in
IRS Publication 17, Your Federal Income Tax. Publication 17 and IRS Form 8888
are available on IRS.gov or by calling the IRS at 1-800-TAX-FORM