Page 64 - Individual Forms & Instructions Guide

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The type and rule above prints on all proofs including departmental reproduction proofs. MUST be removed before printing.
(11 weeks if you filed electronically). check the box on line 35a. Draw a line 2023. If you designate your deposit to be
Have your 2022 tax return handy so you through the boxes on lines 35b and 35d. for 2022, you must verify that the depos-
can enter your social security number, We will send you a check instead. it was actually made to the account by
your filing status, and the exact whole Account must be in your name. Don’t the due date of the return (not counting
dollar amount of your refund. request a deposit of your refund to an extensions). If the deposit isn't made by
Where's My Refund will provide a account that isn't in your name, such as that date, the deposit isn't an IRA contri-
bution for 2022. In that case, you must
personalized refund date as soon as the your tax return preparer’s account. Al- file an amended 2022 return and reduce
IRS processes your tax return and appro- though you may owe your tax return any IRA deduction and any retirement
ves your refund. preparer a fee for preparing your return, savings contributions credit you claim-
don’t have any part of your refund de-
Effect of refund on benefits. Any re- posited into the preparer's account to pay ed.
fund you receive can't be counted as in- the fee.
come when determining if you or any- You and your spouse, if filing
one else is eligible for benefits or The number of refunds that can be di- ! jointly, each may be able to
assistance, or how much you or anyone rectly deposited to a single account or CAUTION contribute up to $6,000 ($7,000
else can receive, under any federal pro- prepaid debit card is limited to three a if age 50 or older at the end of 2022) to
gram or under any state or local program year. After this limit is reached, paper a traditional IRA or Roth IRA for 2022.
financed in whole or in part with federal checks will be sent instead. Learn more You may owe a penalty if your contribu-
funds. These programs include Tempo- at IRS.gov/DepositLimit. tions exceed these limits, and the limits
rary Assistance for Needy Families may be lower depending on your com-
(TANF), Medicaid, Supplemental Se- Why Use Direct Deposit? pensation and income. For more infor-
curity Income (SSI), and Supplemental • You get your refund faster by di- mation on IRA contributions, see Pub.
Nutrition Assistance Program (formerly rect deposit than you do by check. 590-A.
food stamps). In addition, when deter- • Payment is more secure. There is For more information on IRAs, see
mining eligibility, the refund can't be no check that can get lost or stolen. Pub. 590-A and Pub. 590-B.
counted as a resource for at least 12 • It is more convenient. You don’t ®
months after you receive it. Check with have to make a trip to the bank to depos- TreasuryDirect . You can request a
your local benefit coordinator to find out it your check. deposit of your refund (or part of it) to a
®
if your refund will affect your benefits. • It saves tax dollars. It costs the TreasuryDirect online account to buy
government less to refund by direct de- U.S. Treasury marketable securities, if
posit. available, and savings bonds. For more
DIRECT DEPOSIT information, go to treasurydirect.gov.
Simple. Safe. Secure. • It's proven itself. Nearly 98% of
social security and veterans' benefits are Form 8888. You can have your refund
Fast Refunds! Join the eight in 10 taxpayers sent electronically using direct deposit. directly deposited into more than one ac-
who choose direct deposit—a fast, simple, safe, count or use it to buy up to $5,000 in pa-
secure way to have your refund deposited If you file a joint return and per series I savings bonds. You don’t
automatically to your checking or savings ! check the box on line 35a and
®
account, including an individual retirement attach Form 8888 or fill in need a TreasuryDirect account to do
arrangement (IRA). See the information about CAUTION this. For more information, see the Form
IRAs, later. lines 35b through 35d, your spouse may 8888 instructions.
get at least part of the refund.
Your refund can be split and di-
IRA. You can have your refund (or part TIP rectly deposited into up to three
If you want us to directly deposit the of it) directly deposited to a traditional different accounts in your name
amount shown on line 35a to your IRA, Roth IRA, or SEP-IRA, but not a on Form 8888.
checking or savings account, including SIMPLE IRA. You must establish the
an IRA, at a bank or other financial in- IRA at a bank or other financial institu-
stitution (such as a mutual fund, broker- tion before you request direct deposit. Line 35a
age firm, or credit union) in the United Make sure your direct deposit will be You can't file Form 8888 to split your
States: accepted. You must also notify the trust- refund into more than one account or
• Complete lines 35b through 35d (if ee or custodian of your account of the buy paper series I savings bonds if Form
you want your refund deposited to only year to which the deposit is to be applied 8379 is filed with your return.
one account), or (unless the trustee or custodian won't ac-
• Check the box on line 35a and at- cept a deposit for 2022). If you don’t, Line 35b
tach Form 8888 if you want to split the the trustee or custodian can assume the
direct deposit of your refund into more deposit is for the year during which you The routing number must be nine digits.
than one account or use all or part of are filing the return. For example, if you The first two digits must be 01 through
your refund to buy paper series I savings file your 2022 return during 2023 and 12 or 21 through 32. On the sample
bonds. don’t notify the trustee or custodian in check shown later, the routing number is
advance, the trustee or custodian can as- 250250025. C. and M. Keys would use
If you don’t want your refund direct- that routing number unless their finan-
ly deposited to your account, don’t sume the deposit to your IRA is for

-57- Need more information or forms? Visit IRS.gov.