When filing taxes and getting a refund, you will need to choose how you will receive your money. If you knew how easy and quick it was to get your money with direct deposit, would you choose this method? Because of it’s ease, almost 84 million individuals chose this method last year. Understanding the benefits can allow you to make a more informed choice.
One of the main benefits of this method is that you will have added security. You won’t have to worry about losing a check in the mail or someone stealing your refund check. Instead, the money will be placed automatically in your checking account.
Another benefit is that direct deposit is so simple. Your TurboTax 2014 tax software will guide you towards choosing this method once you file your taxes. All you need to do is enter your checking account information to get your money.
This method can also be very convenient because you will have access to your money quickly. You won’t have to worry about making a separate trip to the bank or waiting a long time to get your check in the mail. Many people who need their refund right away choose this option.
You also have a lot more options when getting your money this way. You can choose to split the refund and place it in up to three bank accounts. This can make it easier for you to save some of your refund or to share your refund with your spouse. You may be able to place your refund in a retirement or education account. If you have questions about this, contact the IRS.
Make sure that you get your next tax refund as quickly and easily as possible. Knowing all of your options can allow you to have an overall better experience when filing your taxes.