A person will need to supply his bank account information to the Internal Revenue Service, or IRS, to have the refund deposited to his bank account. The IRS will need the routing and account number for the deposit. The name on the account must match the name on the tax return.Continue Reading
For taxpayers who are receiving a refund for the 2014 tax year, the Internal Revenue Service has a number of different options to receive the money. Taxpayers can opt to purchase savings bonds with their refund or have it deposited into a retirement savings account. One of the more popular options, however, is to have it directly deposited into a personal checking or savings account.
To do this, locate the identifying information for the account in which the money is to be deposited. The routing and account numbers for a checking account can be found on the front of a check. When in doubt, check with the financial institution for the information.
The IRS states it will only deposit refunds to an account with a name that matches the name on the tax return. If the names do not match, the person must choose an alternate method.
Upon completion of the tax return, there will be an opportunity to provide the IRS with the routing and account information. Be sure to double-check that the information is accurate to avoid any errors with the deposit.Learn more about Income Tax