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Printable Form 8888 Oxnard California: What You Should Know
However, direct deposit is subject to the following limits. No more than 10,000 per tax year This limit allows you to obtain federal tax refunds from as many accounts and as many people as you have. For example, with 100,000 of total refunds, you could select up to 100,000 in one of your accounts and 10,000 each for two more accounts. This is called a “direct deposit limit.” Direct deposits to multiple accounts are required by law. If you do not have more than 10,000 in direct deposits per year, a one-time direct deposit transfer to the account does not constitute a “direct deposit” for purposes of filing your form 888. In other words, your first direct deposit doesn't count toward the “direct deposit limit.
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