Cat. No. 21858A Form 8888 2015 Page 2 Future Developments affecting Form 8888 such as legislation enacted after we release it will be posted on www.irs.gov/form8888. Form Allocation of Refund Including Savings Bond Purchases Department of the Treasury Internal Revenue Service Information about Form 8888 and its instructions is at www*irs*gov/form8888. 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. 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. What s New You now can have your refund directly deposited...to a myRA account which is a starter retirement account offered by the see the General lnstructions and the instructions under Part I. For more information on myRA and to open a myRA account online go to www. myra*gov* 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. An account can be a checking savings or other account such as An individual retirement arrangement IRA including a myRA A health savings account HSA An Archer MSA A Coverdell education savings account ESA or A TreasuryDirect online account. You can t have your refund deposited into more than one account or buy paper series I savings bonds if you file Form 8379 Injured Spouse Allocation* Deposit of...refund to only one account. If you want your refund deposited to only one account don t complete this form* Instead request direct deposit on your tax return* Account must be in your name. Don t request a deposit of your refund to an account that isn t in your name such as your tax return preparer s account. Although you may owe your tax return preparer a fee for preparing your return don t have any part of your refund deposited into the preparer s account to pay the fee. The number of refunds...that can be directly deposited to a single account or prepaid debit card is limited to three a year.
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How to fill out IRS 8888
Instructions and Help about IRS 8888
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To edit IRS 8888, use a PDF editor like pdfFiller, which allows you to make changes directly on the form. You can modify text fields, add signatures, or correct any errors before submitting. Ensure you save a copy of the updated form for your records.
How to fill out IRS 8888
Filling out IRS 8888 involves several straightforward steps:
01
Provide your personal information, including your name, Social Security number, and address.
02
Indicate how you want your tax refund distributed—this can include direct deposit information.
03
Carefully review each section for accuracy to avoid delays in processing.
Using forms like the IRS 8888 can streamline your refund process by allowing direct deposit into multiple accounts.
About IRS 8 previous version
What is IRS 8888?
IRS 8888 is the form used to allocate your tax refund into multiple accounts or to purchase U.S. savings bonds. This form simplifies the process for taxpayers looking to manage their refunds effectively.
Who needs the form?
Taxpayers who expect a refund and wish to distribute it across multiple accounts or purchase savings bonds require IRS 8888. If you only expect a single deposit into one account, this form is not necessary.
Components of the form
IRS 8888 consists of sections for personal information, refund allocation methods, and bank account details. Each section is clearly labeled to guide you in providing the necessary information accurately.
What information do you need when you file the form?
When filing IRS 8888, you will need your Social Security number, bank account information for each account you wish to deposit into, and details regarding any savings bonds you wish to purchase. Ensuring accurate information is crucial for a smooth processing of your refund.
Is the form accompanied by other forms?
IRS 8888 can be submitted alongside your main tax return form, such as Form 1040. It is essential to ensure that both forms are submitted together if you require the allocation of your refund as specified on IRS 8888.
What is the purpose of this form?
The purpose of IRS 8888 is to enable taxpayers to receive their tax refunds through direct deposit to various bank accounts, rather than a single account. This can be beneficial for budgeting and saving. Additionally, it allows taxpayers to purchase savings bonds directly from their refunds.
When am I exempt from filling out this form?
You are exempt from filling out IRS 8888 if you choose to receive your refund as a paper check or if you only wish to deposit it into one bank account. In those cases, simply reporting your account information on the standard tax return form is sufficient.
What are the penalties for not issuing the form?
There are no specific penalties associated with failing to submit IRS 8888 if you are not required to do so. However, if you intend to direct deposit into multiple accounts and do not submit this form, your refund may only be deposited into the account listed on your main tax return, possibly complicating your financial planning.
Where do I send the form?
If you are filing by mail, send IRS 8888 along with your tax return to the address specified in the instructions of your main tax return form. If filing electronically, follow the prompts in your tax preparation software for inclusion of IRS 8888.
FAQ about IRS 8888
What should I do if I realize I made an error on my submitted 2015 form 8888?
If you discover an error on your filed 2015 form 8888, you may need to submit an amended return. This typically involves filling out a new 2015 form 8888 with the correct information and marking it as amended. Make sure to follow IRS guidelines for amendments to ensure your corrections are properly processed.
How can I check the status of my 2015 form 8888 after submission?
To verify the status of your submitted 2015 form 8888, you can use the IRS 'Where's My Refund?' tool online. This tool provides updates on the processing of your return and any associated refunds, depending on how you filed your form.
Are there any common mistakes that people make when submitting the 2015 form 8888?
Common errors include incorrectly entering personal information, mismatching names with Social Security numbers, or not signing the form correctly. Review your information carefully before submission to minimize the chance of rejection due to these issues.
What should I know about e-signatures when filing the 2015 form 8888?
E-signatures are accepted for the 2015 form 8888 when filing electronically. Ensure that your e-filing software supports electronic signatures and comply with any authentication protocols the IRS may require for verification and security of your submission.
What are the privacy and data security considerations for filing the 2015 form 8888 online?
When filing the 2015 form 8888 online, prioritize using secure networks and reputable tax software that adheres to privacy regulations. Make sure your internet connection is secure and check that your software provides encryption to protect your sensitive data during transmission.
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