You can split your electronic tax refund

You can split your electronic tax refund

By Herb Weisbaum

Most people know that the quickest way to get your tax refund is to have the money direct deposited into your bank account.

If you file electronically and use direct deposit you should have your money within two weeks. That's about a week faster than getting a paper check. If file a paper return and have a check mailed to you, you'll wait will be up to six weeks.

But did you know that you can split your electronic refund? You can.

The IRS will make a direct deposit into as many as three different accounts -- maybe a checking account, a savings account, and money market account.

And those accounts can be in three different U.S. financial institutions, such as a bank, credit union, mutual fund, or brokerage firm.

You can split your refund whether you do your return on paper or file it electronically. You just need to file out form 8888 and give the IRS the financial institutions and account numbers.

By the way, if you're expecting a refund and want to know how it's going, go to the IRS website irs.gov and click on "Where's My Refund?"

For More Information:

http://www.irs.gov/newsroom/article/0,,id=179041,00.html
This content requires the latest Adobe Flash Player and a browser with JavaScript enabled. Click here for a free download of the latest Adobe Flash Player.

Weather

Icon
Current Temp 62 °F
Fair
Wind : Calm
Humidity : 35 %
Pressure : 30.07" (1018.3 mb)
More Weather
My Forecast
Watch CBS Shows

Watch CBS Shows

Watch CBS shows and news online, free!

Video

Video

Latest news videos from around the region

Mobile

Mobile

News on the go for your cell phones or PDA.

RSS/XML

RSS/XML

Get news and updates as soon as they're published.

Viewer Poll

Do you support creating a 51st state out of Eastern Oregon?

  • Yes
  • No