The best and fastest way to get your tax refund is to have us indicate so by having it electronically deposited for free into your financial account. You can use it to deposit your refund into one or multiple accounts.
According to the IRS, eight out of 10 taxpayers get their refunds by using Direct Deposit. It is simple, safe and secure. This is the same electronic transfer system used to deposit nearly 98 percent of all Social Security and Veterans Affairs benefits into millions of accounts.
Combining direct deposit with electronic filing is the fastest way to receive your refund. IRS issues more than 9 out of 10 refunds in less than 21 days. You can track your refund using the IRS' Where’s My Refund? tool.
Direct deposit is easy to use. We only need your bank account number and routing number.
Direct deposit also saves you money. It costs the nation’s taxpayers more than $1 for every paper refund check issued, but only a dime for each direct deposit made.
The federal tax refund is often the largest single check many people receive. It’s a good time to start or add to your savings. You can divide your refund into two or three additional financial accounts, including your Individual Retirement Account, or purchase up to $5,000 in U.S. Series I Savings Bonds.
Splitting your refund is easy for us to do.
Your refund should only be deposited directly into accounts that are in your own name; your spouse’s name or both if it’s a joint account. No more than three electronic refunds can be deposited into a single financial account or pre-paid debit card.
Filing electronically utilizing direct deposit gives you access to your refund much faster than a paper check. Direct deposit also avoids the possibility that your check could be lost or stolen or returned to IRS as undeliverable.
For additional guidance on tax matters, please contact Lee Schmidt or other members of the A. L. Schmidt CPA Tax Practice.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances