Choosing Direct Deposit, a smart option to safeguard Tax Refund.
The amendment in the IRS has always brought benefit to taxpayers. Get your refunds deposited in your bank account directly without any hassle. Choose the smart option for receiving your tax refund by selecting the option of Direct deposit which is the fastest, safest way to get your refunds rather than check where you stay worry-free. Once you combine your e-file and direct deposit, the Internal Revenue Service will likely issue your refund in as few as 10 days.
Check out the reasons why more than 79 million taxpayers chose direct deposit in 2011:
1. Easier way: At the time of preparing your return; simply follow the instructions on your return or in the tax software. All you have to do is to make sure you have entered the correct bank account and bank routing numbers.
2. Convenience: The refund value will go directly into your bank account. You need not have to visit the bank to deposit the
refund amount by your own.
3. Available Options: You are allowed to deposit your refund into multiple accounts. 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. Word of Caution: Check with your bank or other financial institution to make sure your direct deposit will be accepted as some financial institutions do not allow a joint refund to be deposited into an individual account. In addition, Form 8888 should NOT be used to designate part of your refund to pay your tax preparer.
4. Security: Above all, safety comes first as due to the undeliverable mails, thousands of paper checks are returned to the Internal Revenue Service by the U.S. Post Office every year. By choosing Direct deposit, the possibility has been eliminated of your refund check being lost, stolen or returned to the IRS as undeliverable.