Cat. No. 21858A Form 8888 2014 Page 2 Future Developments developments affecting Form 8888 such as legislation enacted after we release it will be posted on www.irs.gov/form8888. If you do not the trustee or custodian can assume the deposit is for the year during which you are filing your return. For example if you file your 2014 return during 2015 and do not notify the trustee TIP If you are filing Form 8888 only to buy paper series I savings bonds skip Part I and go to Part II. Form Allocation...of Refund Including Savings Bond Purchases Department of the Treasury Internal Revenue Service Name s shown on return Part I Information about Form 8888 and its instructions is at www*irs*gov/form8888. OMB No* 1545-0074 Attachment Sequence No* 56 Your social security number Attach to your income tax return* Direct Deposit Complete this part if you want us to directly deposit a portion of your refund to one or more accounts. 1a Amount to be deposited in first account see instructions. b Routing...number c. Checking 2a 3a Savings d Account number U*S* Series I Savings Bond Purchases CAUTION 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 If you would like to add a co-owner or beneficiary enter the name here First then Last. If beneficiary...also check here 6a Paper Check Amount to be refunded by check. Total Allocation of Refund Add lines 1a 2a 3a 4 5a 6a and 7. The total must equal the refund amount shown on your tax return. For Paperwork Reduction Act Notice see your tax return instructions. General Instructions Do not request a deposit of your refund to an account that is not in your name such as your tax return preparer s account. 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 series I savings bonds. An account can be a checking savings or other account such as an individual retirement arrangement IRA health savings account HSA Archer MSA Coverdell education savings account ESA or TreasuryDirect online You cannot have your refund deposited into more...than one account or buy paper 8379 Injured Spouse Allocation* Deposit of refund to only one account. If you want your refund deposited to only one account do not complete this form* Instead request direct deposit on your tax return* Why Use Direct Deposit or custodian in advance the trustee or custodian can assume the deposit to your IRA in 2015 is for 2015. If you designate your deposit to be for 2014 you must verify that the deposit was actually made to the account by the due date of the...return without regard to extensions.
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Instructions and Help about IRS 8888
How to edit IRS 8888
How to fill out IRS 8888
Instructions and Help about IRS 8888
How to edit IRS 8888
To edit IRS Form 8888, ensure you have the correct version of the form downloaded from the IRS website. You can make changes by hand, or if you utilize an online tool like pdfFiller, you can easily type in the fields that need to be updated. Be sure to save your changes before submitting the form to avoid losing any information.
How to fill out IRS 8888
Filling out IRS Form 8888 requires specific personal and financial information. Follow these steps to ensure accuracy:
01
Access IRS Form 8888 from the IRS website or a reliable tax preparation source.
02
Provide your personal information, including your Social Security number, on the top of the form.
03
Indicate the amount of your refund you want deposited directly into your bank accounts.
04
Complete any additional fields as instructed, ensuring all numbers and information are accurate.
05
Review the form for any errors before submitting it.
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 Form 8888, known as the "Direct Deposit of Refund to More Than One Account," enables taxpayers to split their federal tax refund among multiple bank accounts. This form is particularly useful for individuals who wish to allocate their refund for various purposes, such as savings, spending, or paying bills.
What is the purpose of this form?
The primary purpose of IRS Form 8888 is to facilitate the direct deposit of a tax refund into up to three separate bank accounts. By using this form, taxpayers can ensure their refund is distributed according to their financial plans. This ensures quicker access to the funds and helps in managing expenses effectively.
Who needs the form?
Taxpayers who are entitled to a federal tax refund and wish to deposit it into multiple bank accounts should use IRS Form 8888. This includes individuals filing jointly or those with several savings and checking accounts where they want the refund divided.
When am I exempt from filling out this form?
You are exempt from filling out IRS Form 8888 if you prefer to receive your refund as a paper check or if you do not wish to split your refund into multiple accounts. Additionally, if you're not expecting a refund, this form is unnecessary.
Components of the form
IRS Form 8888 consists of several key components, including sections for personal information, account information for each bank account, and the amount of the refund to allocate to each account. An accurate completion of these components is crucial to ensure proper processing of the refund.
Due date
The due date for IRS Form 8888 aligns with the filing deadline for your federal tax return. Typically, this date falls on April 15 of the year following the tax year, although extensions may apply. Always check the IRS website for any changes to deadlines or additional information.
What are the penalties for not issuing the form?
There are no direct penalties for not filing IRS Form 8888 if you do not want to split your refund. However, failing to provide accurate bank account information can delay the receipt of your refund or result in complications. It's also important to ensure that you follow all federal tax requirements to avoid misunderstandings.
What information do you need when you file the form?
When filing IRS Form 8888, you will need your Social Security number, information on the amount of refund you expect, and account details for all bank accounts you want to deposit funds into. This includes account numbers and bank routing numbers for each account.
Is the form accompanied by other forms?
IRS Form 8888 is typically filed along with your main tax return, such as IRS Form 1040 or 1040A. Ensure that all forms are submitted together to avoid processing delays. It is crucial to verify that all information across these forms is consistent.
Where do I send the form?
IRS Form 8888, when filed electronically, will be submitted with your electronic tax return. If submitting a paper return, include the form with your tax documents and send it to the address specified for your state in the IRS instructions for Form 1040. Always check the IRS website for the most current address information.
FAQ about IRS 8888
What should I do if I need to correct a mistake after filing add lines 1a 2a?
If you've made a mistake after submitting your add lines 1a 2a, you should submit an amended or corrected form to rectify the error. Depending on the nature of the mistake, you may need to provide an explanation for the changes and ensure all corrected information is accurate.
How can I track the status of my add lines 1a 2a submission?
You can track the status of your add lines 1a 2a submission by checking the confirmation receipt emailed to you after filing. Additionally, if you e-filed, use the relevant agency's online portal to verify receipt and processing status.
What are some common errors that users make when submitting add lines 1a 2a?
Common errors include incorrect amounts, missing signatures, and failure to include all necessary documentation. To avoid these errors, double-check all entries, ensure all forms are signed, and verify that you are following the correct filing requirements.
Can I e-file add lines 1a 2a using mobile devices, and what are the technical requirements?
Yes, you can e-file add lines 1a 2a using mobile devices, provided you use compatible browsers and applications. Ensure your device has a stable internet connection and meets any specific technical requirements outlined by the filing platform.
What actions should I take if I receive a notice or audit letter related to my add lines 1a 2a?
If you receive a notice or audit letter concerning your add lines 1a 2a, review the letter carefully to understand the issue being addressed. Gather all necessary documentation to support your position and prepare to respond promptly to any questions or requests for clarification.
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