Tax Tip 2024-32: Direct deposit is the best way to get a federal tax refund
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Issue Number: Tax Tip 2024-32Direct deposit is the best way to get a federal tax refund Direct deposit is the best way to receive a tax refund. The IRS encourages taxpayers to file by the April 15 federal tax deadline and choose direct deposit to receive any refund they may be owed. Benefits of direct deposit
Taxpayers should deposit refunds into U.S. bank accounts in their own name, their spouse’s name or both. They should avoid making a deposit into accounts owned by others. Some banks require both spouses’ names on the account to deposit a tax refund from a joint return. Taxpayers should check with their bank for direct deposit rules. Get a bank account Mobile apps may be an option Taxpayers must have their routing and account numbers for direct deposit available when they are ready to file. The IRS can’t accept this information after a return is filed. There is a limit of three direct deposit refunds a year made into a single financial account or prepaid debit card. More information
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