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Lane
Lane, JD, CFP, MBA, CRPS
Category: Tax
Satisfied Customers: 10108
Experience:  Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986
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How do i correct my banking information on my e-filed tax

Customer Question

How do i correct my banking information on my e-filed tax return? My banking information is missing one number. How do i request a stop on my refund?
Submitted: 9 months ago.
Category: Tax
Customer: replied 9 months ago.
Thanks but no thanks
Expert:  Lane replied 9 months ago.

What software are you using

Expert:  Lane replied 9 months ago.

I beg your pardon?

Expert:  Lane replied 9 months ago.

OK, I'll try to add some value here ... IF you used turbotax...

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If you have not yet filed your tax return, go to the File section. Continue with the interview in the File section until you are on the screen with your bank account information and change as necessary.

if you e-filed, wait until your return is accepted or rejected by government.

  • If your return is rejected, correct the account information (along with anything else that needs to be corrected for e-filing) and then re-submit your return.
    • To correct your bank information, simply open your return in TurboTax, click File, and walk through the screens again.
  • On the other hand, if your return has already been accepted (or you already mailed it), the IRS will send you a check refund instead.
    • If you used Refund Processing Services, you might still have time to correct your bank account information. Click here for more information.

What if the account information I entered is valid, but for somebody else's account?

The good news is that most banks have systems in place that prevents checks from being deposited into accounts bearing a different name.

Expert:  Lane replied 9 months ago.

If you used TaxAct:

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If you have submitted an e-file and elected for a direct deposit, but now know the information is no longer correct (i.e. entered incorrectly or the bank account has been closed), one of two things will happen:

  1. If the return is rejected, you may correct the information within the return and then resubmit. To correct the information, click on the Filing tab (on smaller devices, click in the upper left-hand corner, then select Federal) and continue to the screen titled E-Filing - Federal Refund Options. Click Direct Deposit and enter the appropriate information on the screen titled E-Filing Direct Deposit Bank Information.

  2. If the return is accepted, the IRS will transmit the refund to the bank and account specified. According to the IRS, you cannot request a deposit of your refund to an account that is not in your name. If the SSN and last name of the account holder does not match the IRS records, the bank should reject the transaction. The IRS will then print out a check and send it to the address listed on the return. In most cases, this process happens fairly quickly, but please contact the IRS directly at(###) ###-####to obtain status of your refund.
Expert:  Lane replied 9 months ago.

I'm not sure if I understood your first statement ... I was asking for your provider as that came in

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I hope this has helped.

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Please let me know if you have any questions at all.

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If this HAS helped, I'd really appreciate a positive rating (using the rating request, faces, or stars on your screen)

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That's the only way I'll be credited for the work here.

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Thank you!

Lane

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I hold a JD (Juris Doctorate, a doctoral degree in the law), with concentration in Tax Law, Estate law & Corporate law, an MBA, with specialization in finance & tax, as well as CFP® and CRPS designations. - I’ve been providing financial, Social Security & Medicare, estate, corporate & tax advice since 1986.

Expert:  Lane replied 9 months ago.

Hi,

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I’m just checking back in to see how things are going.

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Did my answer help?

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Let me know…

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Thanks

Lane