Subscribe: LifeTips Taxes Tip of the Day
http://taxes.lifetips.com/rss/TipOfTheDay.asp
Added By: Feedage Forager Feedage Grade B rated
Language: English
Tags:
account  file irs  file  form  income tax  income  irs form  irs  lifetips  refund split  refund  split  tax refund  tax  taxes 
Rate this Feed
Rate this feedRate this feedRate this feedRate this feedRate this feed
Rate this feed 1 starRate this feed 2 starRate this feed 3 starRate this feed 4 starRate this feed 5 star

Comments (0)

Feed Details and Statistics Feed Statistics
Preview: LifeTips Taxes Tip of the Day

LifeTips Taxes Tip of the Day



Taxes.LifeTips.com Tip of the Day



 



Splitting Your Tax Refund

Fri 23 Feb 2018 00:00:00 GMT

The 2006 tax year is the first time the IRS allows taxpayers to have their tax refund split among up to three different places. The IRS states that you can have your refund split (and directly deposited) into any of the following accounts you have:
  • Bank checking
  • Bank savings
  • IRA (must be set up prior to you requesting a direct deposit into it)
  • Coverdell education savings account
  • Health savings account
In order to have your 2006 tax refund split into up to three financial accounts, you need to file IRS Form 8888. You must use direct deposit as your only method of receiving your income tax refund in order to file this return. If you want your 2006 income tax refund deposited directly into one financial account, you do not need to file IRS Form 8888. You just need to fill in the proper lines on your Form 1040, 1040A, or 1040EZ. Be sure to include your bank account number and correct routing number. Be sure to attach IRS Form 8888 to your applicable 1040 when filing your 2006 income tax return with the IRS.


For more Taxes tips, visit http://Taxes.lifetips.com (image)