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Direct Deposit of Your Tax Refund is Quicker, Easier, Safer
Taxpayers can now divide their refunds
three ways. Working with your credit union, the IRS will transmit your 2009 tax refund using direct deposit. Millions of taxpayers already take advantage of this service…why not join them?
Direct deposit is:
- Safe—checks can’t get lost or stolen
- Easy—no special trips to the bank
- Fast—you receive your refund up to 3 weeks earlier.
Split Deposits Offer More Options
You can now select up to three financial accounts for direct deposit of your tax refund. For example, you can choose among IRA accounts, checking and savings as well as Health Savings Accounts, Coverdell education accounts or Archer medical savings accounts. You decide which three are best for you. (Learn more at www.irs.gov)
How to arrange Direct Deposit of your tax refund:
1.Use new IRS Form 8888 to split your refund among 3 different accounts
2.Use the appropriate line under “Refund” on Form 1040 to deposit into a single account
3. Talk to your credit union about your best options!
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