Deposit tax refunds 1, 2, 3 — Business Management Daily: Free Reports on Human Resources, Employment Law, Office Management, Office Communication, Office Technology and Small Business Tax Business Management Daily
Starting with 2006 tax returns, you’ll have more “direct deposit” options if you’re entitled to a refund. The IRS is creating a new program that will enable you to divide your refund among three accounts: checking, savings and retirement. (IRS internal release 2006-085) You can elect to divide your refund among all three, only two or just one. Use new Form 8888. Note: Last year, the IRS direct-deposited 52.7 million refunds, amounting to $134.2 billion, into taxpayer bank accounts.