IRS Urges Taxpayers to Have Refunds Direct Deposited: Here’s Why

Taxes / Refunds

ByDawn Allcot

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The Internal Revenue Service recently issued a news release urging taxpayers to file their taxes electronically and have their tax refund direct deposited into their bank account.

IRS Urges Taxpayers to Have Refunds Direct Deposited: Here’s Why

See: IRS: Free File Now Open, Do Your Taxes For Free Find: Teens & Taxes: How Much Can Your Teen Make Before Needing to File Taxes?

The IRS outlined the benefits of direct deposit:

Save for Your Future

Where You Can Deposit Your Tax Refund

If you currently have a checking or savings account, you can opt to have your tax refund deposited into one (or more) of those accounts.

If your prepaid debit card has an associated routing number, you may be able to have your tax refund deposited directly onto the card.

Learn: The Difference Between Direct and Indirect Taxes Explore: COVID Could Change How You File Your 2021 Taxes

Lastly, if you don’t have a bank account or prepaid debit card, your tax preparer may be able to offer an electronic payment option in the form of a prepaid debit card.

About the Author

Dawn Allcot

Dawn Allcot is a full-time freelance writer and content marketing specialist who geeks out about finance, e-commerce, technology, and real estate. Her lengthy list of publishing credits include Bankrate, Lending Tree, and Chase Bank. She is the founder and owner of GeekTravelGuide.net, a travel, technology, and entertainment website. She lives on Long Island, New York, with a veritable menagerie that includes 2 cats, a rambunctious kitten, and three lizards of varying sizes and personalities – plus her two kids and husband. Find her on Twitter, @DawnAllcot.