Form 8888 - Allocation of Refund Into Multiple Accounts
Online · Written guide Content date 2 min read
IRS Form 8888 allows the taxpayer's tax refund to be deposited into more than one bank account and/or split between a deposit and a paper check.
In Tax Processors Plus Online, this option is available to be selected in a return if it has been enabled in Office Setup. To do this, from the Welcome Page of your Tax Processors Plus Online office select:
- Configuration
- Office Setup - Under the Office Information section, click the check box next to Offer 8888.
Once your office is configured to offer Form 8888, you can then add Form 8888 to a return. It's added in the E-file section, not inside the return as with other forms.
From the Main Menu of the tax return (Form 1040) select:
- E-file
- Under the Return Details tab, for the federal refund under the heading "Federal Return" select either "E-File: Direct Deposit" or "Paper Return With Direct Deposit".
- Under the Bank Account tab, for each bank enter its name, routing number, account number, and account type plus the deposit amount. You can enter up to three different accounts.
- Following the bank account entries, enter the amount, if any, that the taxpayer wishes to have paid by check.
- Click Next to continue to the next step in the e-file process. Note that the sum of the amounts being deposited plus the amount being paid by paper check must equal the total federal refund.
Caveats
- State refund will always be deposited into the first bank account listed.
- Form 8888 can only be accessed when the return is marked for direct deposit.
- Form 8888 cannot be used if the taxpayer is using a bank product to facilitate their refund.
- Form 8888 can only be included with the original return, not with an amended return.
Should you need a list of returns that included Form 8888, the "Office Production Detail Report" in Web Reports in your Account Hub includes a filter for Form 8888.
Additional Information: