You can even use direct deposit if you are one of the few people still filing by paper. Or, tell your tax preparer you want direct deposit. Just select it as your refund method through your tax software and type in the account number and routing number. You can track your refund using our Where’s My Refund? tool.ĭirect deposit is easy to use. Taxpayers who used direct deposit for their tax refunds also received their stimulus payments more quickly. The IRS issues more than nine out of ten refunds in less than 21 days. There’s no chance of it going uncashed, getting lost, stolen, or destroyed. This is the same electronic transfer system used to deposit nearly 98 percent of all Social Security and Veterans Affairs benefits into millions of accounts.Ĭombining direct deposit with electronic filing is the fastest way to receive your refund. Eight out of ten taxpayers get their refunds by using direct deposit.
