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NY Form 8888: What You Should Know
The transaction is to a Federal Reserve bank or the Reserve Banks of the several states, it's not made through a wire transfer and the refund amount is more than 600. Direct Deposit — Notice.gov The form is signed by the taxpayer to authorize electronic payment through the payment system on their account. If the tax return has a non-standard address, the taxpayer must give his or her mailing address. Direct Deposit — Form.gov The taxpayer will have to file Form 8888, a form showing the name and account number of the bank account to which this amount should be added. Example: A taxpayer wants to send 600 to a separate account at Bank A (see Example 9). Form 8888 — Instructions The following instructions describe the steps to complete this process for a taxpayer filing a separate return. A taxpayer should know that you must do one of the following to send a tax refund electronically. Example 1 If the tax refund is more than 600, the taxpayer can make two payments: one online, and one by using the IRS payment system (Visa, MasterCard or Discover) as described below. Payment for your refund can be sent to the following address. The IRS Payment System (Visa, MasterCard or Discover) P.O. Box 12488 Burritos, CA 91436 Example 2 If the tax refund is 600 or less, you can send a single payment to a bank account with a checking account at, but not including, Bank A, as shown on the Form 8888 (see Example 13). If the tax refund exceeds 600, you will have to make the second payment of 600 directly to a bank account with a check account at, but not including, Bank A (see Example 14). If you use a Visa or Mastercard debit card, you'll have to add your tax refund to that payment or another one. For a refund of an election or failure (See Tax Benefits) and an amount over 100,000, add 50. The taxpayer will have to file Form 8888 (see Example 15) and complete Part I. The following information is a summary of the information required. It is only relevant to taxpayers filing individual (not married filing jointly), business (corporation or partnership) and joint returns. You will be asked to enter your account information on Form 8888, a required form (see Example 16).
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