TurboTax + IRS Tips Helpful reminders and a smart way to file—fast, safe, and simple
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IRS Expects Most Tax Returns Filed Electronically
Here are a few key reminders about direct deposit refunds:
- Refunds should only go into accounts in your name, your spouse’s, or both (if joint).
- Never deposit a refund into a tax preparer’s account.
- You can split your refund into up to three accounts—like checking, savings, or retirement.
What Happens If You Enter the Wrong Bank Info?
The IRS outlines what happens if you enter the wrong routing or account number:
- Invalid Number: If a number is missing and fails IRS checks, a paper check will be issued.
- Valid but Rejected: If the number is valid but the bank rejects it, the IRS will send a paper check once the refund is returned.
- Wrong Account: If the refund is deposited into someone else’s valid account, you’ll need to contact the bank directly to recover the funds.