The Internal Revenue Service announced that a draft of Form 8888, "Direct Deposit of Refund," a new form for taxpayers who opt to split their refunds among accounts, is now available for public comment.
Starting in January, taxpayers will have more flexibility on where the direct deposits of their 2006 federal income tax refunds are sent. They can split their refunds among up to three checking or savings accounts and three different U.S. financial institutions by using the form, which will be available for returns filed either on paper, or electronically.
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