RT – Goods and Services Tax/Harmonized Sales Tax Once your return has been accepted (or mailed), it's too late to change your bank account for direct deposit. If the info you entered happens to be someone else's account, don't worry – banks won't deposit tax refunds into accounts where the names don't match up.
You can use your tax software to do it electronically. When should you expect your tax refund, especially if it's particularly large? When you file your tax return you have the choice of receiving your refund by check or by direct deposit. Additionally you can use part of your refund to purchase a U.S. Series Savings Bond.
Direct deposit refunds are electronically transferred to a taxpayer’s financial institution into their checking or savings account. A financial institution for the purposes of direct deposit of tax refunds is defined as a state or national bank, credit union, savings and loan association or mutual savings bank within the United States. If the info you provided is for a closed or invalid account, the government will just mail you a refund check.
Do not mail Michigan Direct Deposit of Refund (form 3174). Splitting your Direct Deposit. If you have not already filed and submitted your tax return and wish to change your method of payment, follow the steps below: Sign into your account, click take me to my return; Click the File heading; Follow the prompts for Step 1.When you get to Step 2, this is where you can change how you want to receive your refund.Follow the prompts. If you would like to deposit portions of our refund to multiple accounts , do not complete any direct deposit information on your income tax return. How can I have my income tax refund direct deposited?
To register for direct deposit for your tax refund or to change your information, you must do one of the following: Use the online service Register for Direct Deposit or the online service Change Direct Deposit Information (you must be registered for My Account for Individuals) As long as you haven't filed this year's tax return yet, you can easily enter new direct deposit information during the tax preparation process. Here are some guidlines. Or, use IRS’ Form 8888, Allocation of Refund (PDF) (including Savings Bond Purchases) if you file a paper return. Once you have submitted your return and it has been accepted, you can't change your routing and account information.
Instead , you must enter code number 588 in one of the code number boxes located to the right of the telephone number area on your return, complete and attach Form 588.