Important Information for U.S.
Visit IRS.gov for more information.
Speed, safety and choice — with
direct deposit you can have it all!
Split your refund among as many
as three accounts.
More choices for direct deposit of
2006 income tax refunds
Taxpayers will have more choice and flexibility for direct deposits
of their 2006 federal income tax refunds. Now they can split their
refunds among up to three checking or savings accounts, with up to
three different U.S. financial institutions.
Taxpayers can continue to use the direct deposit line on Form 1040
to electronically send their refunds to one account, or use the IRS’
new Form 8888, Direct Deposit of Refund, to split their refunds
among two or three different accounts or financial institutions.
This change gives taxpayers more options for managing their
refunds — whether for immediate use or future savings — teamed
with the speed and safety of direct deposit. It’s a win-win.
You can help your customers understand their new choices, maxi-
mize their direct deposit options and ensure their funds arrive as
1. Informing your customers about your guidelines for accept-
ing direct deposits.
The IRS will deposit a refund to any of your customers’ check-
ing or savings accounts. In the case of refunds on jointly filed
returns, the IRS will deposit the refund into an account of
either or both spouses. For example, the IRS will deposit a
joint refund into an individual retirement account of one
spouse. If you place restrictions on the types of accounts or
ownership for which you accept direct deposits, please inform
2. Ensuring your customers have correct account and routing
number information and urging them to double-check the
accuracy of account and routing information entered on
The IRS assumes no responsibility for taxpayer errors in
account or routing information.
If a taxpayer incorrectly enters account or routing informa-
tion and the financial institution re