Question posted by tinaceaser on January 27th, 2011
Checking Account Direct Deposit
My husband and I have separate checking accounts. So can we have our refund direct deposited into each separate account?
Current Answers
Answer #1: Posted by pellkiness on January 27th, 2011 9:05 AM
pellkiness
Member since:
June 22nd, 2010 Points: 2,988,850
Member since:
June 22nd, 2010 Points: 2,988,850
Yes. In fact the IRS specifically allows for it. However, the IRS cautions joint filers that only one spouse will have access to the refund.
In spite of the IRS's policy to permit direct deposit of a joint refund to an individual account, a bank that receives such a direct deposit and compares the individual name on its account records with the joint name in the direct deposit instruction is permitted to reject the direct deposit transaction based on the name discrepancy. If that happens, the IRS will issue a jointly payable check. If you want to directly deposit a joint refund to an individual account, it's wise to check with the bank to find out what it will do, before signing and filing the tax return.
In spite of the IRS's policy to permit direct deposit of a joint refund to an individual account, a bank that receives such a direct deposit and compares the individual name on its account records with the joint name in the direct deposit instruction is permitted to reject the direct deposit transaction based on the name discrepancy. If that happens, the IRS will issue a jointly payable check. If you want to directly deposit a joint refund to an individual account, it's wise to check with the bank to find out what it will do, before signing and filing the tax return.
TurboTax Knowledge Base Results
We have determined that the information below may contain an answer to this question. If you find an answer, please remember to return to this page and add it here using the "I KNOW THE ANSWER!" button above. It's that easy to earn points!-
Using Direct Deposit for Tax Refunds - TurboTax® Support
... four weeks to -date. It's safe, secure, and fast. If you file your refund will mail you have the option to wrong account Direct deposit/direct debit and foreign accounts Depositing refund in foreign accounts You cannot choose direct deposit or direct debit if you a paper refund check instead of selecting one, two, or three accounts such as married filing jointly, If you a paper... -
Rejection Code 1132 or 1133: Schedule M - Economic Recovery Payments Received does not match IRS records - TurboTax® Support
...account?" On the screen titled Let's Find your Deductions and Credits , select Explore on your tax return by mail or via direct deposit...most importantly , make this question correctly for each taxpayer separately, even if you used from the above agencies. tot=&...quot;MostPopular" pt="16837" tm="check the status of the interview to these steps: Open ... -
Buying U.S. Savings Bonds with Your Refund Using TurboTax - TurboTax® Support
... amount you would like to deposit into multiple financial accounts (up to $5,000 in January, you may wish to choose a checking account to make your choices on your refund by assuring a rate of... example, you can click the Edit button to deposit part of the next screen. This allows you to Direct Deposit your refund into your refund will be divided. option at a point when...
Similar Questions
Can Refunds Be Deposited Into Another Checking Account Other Than Mine?
(Posted by lindak59 11 years ago)
Left A Number Off Of My Checking Account What Do I Do
(Posted by kbboys68 12 years ago)
Wrong Checking Account Number
I put the wrong checking account number for my return. How do I get the refund fixed?
I put the wrong checking account number for my return. How do I get the refund fixed?
(Posted by fell22 13 years ago)
Direct Deposit Change
how do i change my direct deposit information if already accepted.
how do i change my direct deposit information if already accepted.
(Posted by cgulley53 13 years ago)
Direct Deposit
What do I do if I entered the incorrect direct deposit information on my tax return?
What do I do if I entered the incorrect direct deposit information on my tax return?
(Posted by toniacardwell 13 years ago)