How to get Federal Income Tax Refunds?

The Internal Revenue Service is giving its taxpayers options to choose on how they want to receive their federal income tax refunds. There are two easy ways on how to get your refunds.

Electronic Funds Transfer

This method of federal income tax refunds payout is done through a direct deposit in your bank accounts. You can only utilize two to three accounts to avail this option. To request a direct deposit, you need to use Form 8888 (Direct Deposit Refund of More than One Account) and have to provide the following information:

taxpayer's full name (same as the name found on the return)
social security number
bank account numbers
bank account routing numbers
amount to be deposited in each account

Refunds will be deposited within 2 weeks for returns filed through e-file. For returns filed through paper, refunds will be received within 5 weeks. Meanwhile, if you will only use one account for your refund, using Form 8888 is not necessary. All you need to do is specify it on your tax return.

Paper Check

Paper check is the traditional way to get your income tax refund. It will be mailed to the address you provided in your income tax return. If you filed your return through e-file, you will receive the check within 3 weeks. On the other hand, for returns filed through paper, expect the refunds within 6 weeks.

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