Get the free IRS Form 8888

This document outlines how to use your tax refund to purchase U.S. Series I Savings Bonds, detailing the process and steps involved.

How to fill out irs form 8888

How to fill out IRS Form 8888

1. Gather necessary documents, including your tax return and bank account information.
2. Obtain a copy of IRS Form 8888 from the IRS website or your tax preparer.
3. Complete the top section by entering your name, Social Security number, and filing status.
4. Indicate the amount of your tax refund on the form.
5. Choose the option for how you want to receive your refund (direct deposit to bank accounts or split into multiple accounts).
6. Provide the bank account information for direct deposit, including account number and routing number.
7. Review the completed form for accuracy and ensure no information is missing.
8. Attach Form 8888 to your tax return before submitting it to the IRS.

Who needs IRS Form 8888?

1. Individuals who are filing a tax return with a refund and wish to direct deposit their refund into one or multiple bank accounts.

People Also Ask about

What is the purpose of form 888?

When applying for a partner or prospective marriage visa (SC 820, SC 309 and SC 300), the couple must provide at least two Form 888. The purpose of the Form 888 is for the Department of Home Affairs to consider the social aspects of the relationship.

Is form 8888 good or bad?

A benefit of filing Form 8888 is that it eliminates the delay of having to transfer your tax refund to different accounts yourself. Moreover, you can receive your refund in various types of accounts—not just checking and savings.

What is form 8888 amended return?

Form 8888 can only be accessed when the return is marked for direct deposit. Form 8888 cannot be used if the taxpayer is using a bank product to facilitate their refund. Form 8888 can only be included with the original return, not with an amended return.

What is the purpose of form 8888?

Use Form 8888 to directly deposit your refund (or part of it) to one or more accounts at a bank or other financial institution (such as a mutual fund, brokerage firm, or credit union) in the United States. This form can also be used to buy up to $5,000 in paper series I savings bonds with your refund.

What is the IRS form to cancel all debt?

Form 1099-C. Lenders or creditors are required to issue Form 1099-C, Cancellation of Debt, if they cancel a debt owed to them of $600 or more. Generally, an individual taxpayer must include all canceled amounts (even if less than $600) on the "Other Income" line of Form 1040.

Why is the IRS verifying my income?

We select some returns to review so we can determine whether income, expenses, and credits are reported correctly. This doesn't mean you made an error or were dishonest.

What happens to unclaimed federal tax refunds?

"There's no penalty for filing late when you're owed a refund," the IRS said. However, refunds must be claimed within three years of the original filing deadline—otherwise, the money becomes the property of the Treasury. For 2021 tax returns, that deadline is rapidly approaching on April 15.

What is the IRS form to cancel all debt?

Form 1099-C. Lenders or creditors are required to issue Form 1099-C, Cancellation of Debt, if they cancel a debt owed to them of $600 or more. Generally, an individual taxpayer must include all canceled amounts (even if less than $600) on the "Other Income" line of Form 1040.

For pdfFiller’s FAQs

What is IRS Form 8888?

IRS Form 8888 is a form used by taxpayers to specify how they want their tax refund to be distributed, such as direct deposit into bank accounts or purchasing U.S. Savings Bonds.

Who is required to file IRS Form 8888?

Taxpayers who wish to split their tax refunds among multiple accounts or use part of their refunds to purchase U.S. Savings Bonds are required to file IRS Form 8888.

How to fill out IRS Form 8888?

To fill out IRS Form 8888, taxpayers need to provide their personal information, indicate the desired distribution of their refund (direct deposit accounts or U.S. Savings Bonds), and sign the form.

What is the purpose of IRS Form 8888?

The purpose of IRS Form 8888 is to allow taxpayers to directly receive their tax refunds in multiple ways, enhancing efficiency and convenience.

What information must be reported on IRS Form 8888?

The information required on IRS Form 8888 includes the taxpayer's Social Security number, the amount of the refund to be deposited in each account, account routing numbers, and information regarding any U.S. Savings Bonds to be purchased.