If there are any delays in the processing of your return by the IRS your entire refund will be deposited in the first account listed on Form 8888. Cat. No. 21858A Form 8888 2018 Page 2 Future Developments Why Use Direct Deposit TreasuryDirect Account Information about any future developments affecting Form 8888 such as legislation enacted after we release it will be posted on www.irs.gov/Form8888. Specific Instructions TIP If you are filing Form 8888 only to buy paper series I savings bonds skip...Part I and go to If you file a joint return and complete Form 8888 your spouse may get at least part of the refund. Make sure the first account you list on Form 8888 is an account you would want the entire refund deposited in if this happens. After this limit is reached paper checks will be sent instead. Learn more at www.irs.gov/Individuals/Direct-DepositLimits. Amended return. Don t attach Form 8888 to Form 1040X. A refund on an amended return can t be directly deposited to an account or used...to buy savings bonds. If the total on line 8 is different a check will be sent instead. Don t file a Form 8888 on which you have crossed out or whited out any numbers or letters. For more information go to http //go. usa.gov/3KvcP. General Instructions Purpose of Form Use Form 8888 if You want us to directly deposit your refund or part of it to either two or three accounts at a bank or other financial institution such as a mutual fund brokerage firm or credit union in the United States or You...want to use at least part of your refund to buy up to 5 000 in paper or electronic series I savings bonds. Amended return. Don t attach Form 8888 to Form 1040X. A refund on an amended return can t be directly deposited to an account or used to buy savings bonds. IRA or SEP-IRA but not a SIMPLE IRA. You must establish the IRA at a bank or other eligible financial institution before you also notify the trustee or custodian of your account of the year to which the deposit is to be applied unless...the trustee or custodian won t accept a deposit for 2018. Form Allocation of Refund Including Savings Bond Purchases Department of the Treasury Internal Revenue Service Go to www*irs*gov/Form8888 for the latest information* 1a Attachment Sequence No* 56 Your social security number Attach to your income tax return* Name s shown on return Part I OMB No* 1545-0074 Direct Deposit Complete this part if you want us to directly deposit a portion of your refund to one or more accounts. Amount to be...deposited in first account see instructions. b Routing number c Checking Savings d Account number 2a. 3a CAUTION U*S* Series I Savings Bond Purchases If a name is entered on line 5c or 6c below co-ownership will be assumed unless the beneficiary box is checked* See instructions for more details. Amount to be used for bond purchases for yourself and your spouse if filing jointly. b Enter the owner s name First then Last for the bond registration 5a 6a Paper Check Amount to be refunded by check....If you would like to add a co-owner or beneficiary enter the name here First then Last. If beneficiary also check here Total Allocation of Refund Add lines 1a 2a 3a 4 5a 6a and 7.
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How to fill out IRS 8888
Instructions and Help about IRS 8888
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To edit IRS 8888, collect and organize your information thoroughly. You may use pdfFiller's editing tools, which allow you to fill out the form digitally, ensuring accuracy. Once the necessary information is correctly input, you can review the form for clarity and completeness before saving or printing.
How to fill out IRS 8888
To fill out IRS 8888, follow these general steps:
01
Gather your tax documents, including your Social Security number and bank account details.
02
Download the form from the IRS website or use pdfFiller to access a fillable version.
03
Begin with the identification section, providing your personal details and filing status.
04
Follow the prompts to report any eligible tax refund amounts and select where you want your refund to be deposited.
05
Review the completed form for accuracy before submission.
About IRS 8 previous version
What is IRS 8888?
What is the purpose of this form?
Who needs the form?
When am I exempt from filling out this form?
Components of the form
Due date
What are the penalties for not issuing the form?
What information do you need when you file the form?
Is the form accompanied by other forms?
Where do I send the form?
About IRS 8 previous version
What is IRS 8888?
IRS 8888 is a tax form used by U.S. taxpayers to request that their federal tax refund be deposited directly into one or more accounts. This form facilitates a more efficient refund process than traditional paper checks, allowing for faster access to funds.
What is the purpose of this form?
The purpose of IRS 8888 is to provide a clear and structured way for taxpayers to allocate their tax refunds into multiple bank accounts. This is especially useful for individuals who wish to distribute their refunds for savings, spending, or paying off debts. Using this form can expedite the processing of refunds by the IRS.
Who needs the form?
Taxpayers who anticipate receiving a federal tax refund and wish to split that refund among various accounts should complete IRS 8888. This form is beneficial for those who want to manage their finances effectively by directing funds into different accounts for specific needs.
When am I exempt from filling out this form?
You may be exempt from filling out IRS 8888 if you do not expect a tax refund, if you prefer to receive your refund via a paper check, or if you are not eligible to file a tax return for that year. Additionally, if you are filing your taxes without claiming any additional refunds, this form is not necessary.
Components of the form
IRS 8888 consists of sections that request basic personal information and specific details for up to three bank accounts where refunds can be deposited. Key components include taxpayer identification information, refund allocation options, and signature lines for authentication.
Due date
The due date for submitting IRS 8888 is typically aligned with the federal tax filing deadline, which is usually April 15. If the date falls on a weekend or holiday, the deadline may be extended to the next business day. Always check the IRS guidelines for any updates concerning specific filing years.
What are the penalties for not issuing the form?
There are no specific penalties associated directly with not submitting IRS 8888. However, failing to accurately report your tax information may result in delays in receiving your refund or complications during the processing of your tax return. Additionally, if your filing is incomplete, the IRS might apply penalties for late filing or other related issues.
What information do you need when you file the form?
When filing IRS 8888, you need to provide your Social Security number, filing status, and details of the accounts where you wish to have your refund deposited. You should also gather any relevant information regarding your tax return to ensure all figures are accurate.
Is the form accompanied by other forms?
IRS 8888 is usually submitted alongside your main tax return form, such as IRS 1040 or 1040-SR. Ensure that you include this form as part of your complete tax submission to avoid processing delays.
Where do I send the form?
The completed IRS 8888 should be submitted at the same time as your tax return. Depending on your filing method, if you are mailing your tax return, you should send IRS 8888 to the appropriate IRS address listed for your state. If filing electronically, the form will be submitted automatically along with your e-filed return.
FAQ about IRS 8888
What should I do if I discover an error on my submitted IRS 8888 form?
If you notice mistakes on your IRS 8888 after submission, you can correct them by filing an amended return. This process involves completing Form 1040-X, which allows you to adjust information as per IRS guidelines. Ensure you follow the correct steps, as mistakes can delay processing and refunds.
How can I track the status of my IRS 8888 submission?
To verify the receipt and processing of your IRS 8888 submission, use the IRS 'Where’s My Refund?' tool available on their website. This tool provides real-time updates on your filing status and refund timelines, helping you stay informed throughout the process.
What legal considerations should I keep in mind when filing IRS 8888?
When filing IRS 8888, it’s important to understand the acceptability of e-signatures based on IRS regulations. Maintain data security by using reputable e-filing software, and be aware of the record retention period, which typically lasts for three years from the date of your filing.
Are there any common errors when filing IRS 8888 that I should avoid?
Common errors include incorrect Social Security Numbers, mismatched names, and forgetting to sign the form. To avoid these mistakes, double-check all details for accuracy before submission and consider using e-filing for automatic validation checks.
What should I do if I receive a notice from the IRS regarding my IRS 8888 submission?
If you receive a notice or letter from the IRS concerning your IRS 8888, carefully read the communication to understand the issue. Gather necessary documentation and respond promptly, providing any requested information to resolve the matter efficiently.
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