Direct Deposit

Direct Deposit means:
an arrangement whereby a taxpayer who files electronically and meets certain eligibility requirements can elect to have his or her refund deposited directly into a savings or checking account.

This allows tax refunds to be deposited directly to the taxpayer's bank account. Direct Deposit is a fast, simple, safe, secure way to get a tax refund. The taxpayer must have an established checking or savings account to qualify for Direct Deposit. A bank or financial institution will supply the required account and routing transit numbers to the taxpayer for Direct Deposit.

Description and Definition of Direct Deposit

The IRS will wire transfer your refund directly into your bank account rather than mailing you a check. It's the fastest way to get your refund.

Resources

See Also

Further Reading

• Direct Deposit in the West's Tax Law Dictionary
• Direct Deposit in “A Dictionary of Taxation”