The overwhelming majority of taxpayers that file an income tax return this year will receive a refund. It is hard to believe that in today’s world, if someone is filing a return and receiving a windfall of money, that they don’t want to have the refund directly deposited into their bank account. Not only will you receive your refund in about 21 days from the time that your return is accepted, which is three weeks ahead of receiving a paper check, it will make certain that your refund is not stolen.
Identity theft has run rampant in the United States. This problem has come up at the Internal Revenue Service in recent years. People are acquiring Social Security Numbers from unsuspecting taxpayers and filing returns that include over inflated claims for refunds. This problem is so bad that the IRS has a special task force that is assigned only to identity theft. In cases where a legitimate return has been filed and an excessive refund has been claimed, the IRS is holding the refund due to the problem of identity theft.
In addition to providing a more secure method of the delivery of your refund, direct deposit can be spread out amongst up to three different accounts. These accounts can be checking, savings, investment or even IRA accounts. There is even an option for you to be able to purchase Savings Bonds issued by the U.S. Government.
As you can see selecting direct deposit is an easy and safe way to have your refund issued to you.
For more information visit www.smalleynco.com
If you have any questions you can email Craig W. Smalley E.A.
Author of the books: It Starts With an Idea – Tax Tips for Small Businesses, The Ultimate Real Estate Investor Tax Guide, The Complete Guide to the New Tax Law – American Taxpayer Relief Act of 2012, Everything You Wanted to Know about the IRS – Audits, Appeals and Collections, Tax Avoidance is Legal! The Complete Guide to Individual Income Tax, The Complete Guide to the Affordable Care Act’s Tax Provisions, The Complete Guide to Retirement Plans for Small Businesses, The Complete Guide to Estate, Gift and Trust Taxation, The Complete Guide to Hiring an Accountant, The Complete Guide to Subchapter S-Corporations,, and Free Money. All available exclusively on Kindle
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