Help! My Direct Deposit info was wrong on my 1040. What happens now?
If you’re like most people, you probably look forward to receiving your tax refund each year. However, if the bank account information you provided to the IRS is incorrect or outdated, you might be wondering how you’ll receive your refund. The good news is that the IRS will still send you a check for your tax refund if your bank account information is wrong.
Here’s what you can expect if the IRS has to mail a check for your tax refund:
Processing your return
First, the IRS will process your tax return as usual, even if the bank account information you provided is incorrect. This means they’ll determine whether you’re owed a refund, how much it is, and whether you owe any additional taxes.
Attempting direct deposit
If you provided bank account information for direct deposit, the IRS will attempt to deposit your refund into that account. If the deposit is unsuccessful due to incorrect information, the bank account being closed, or other issues, the deposit will be rejected and the IRS will move on to the next step.
Mailing a paper check
If the direct deposit is unsuccessful, the IRS will mail a paper check to the address you provided on your tax return. This could take longer than receiving a direct deposit, but it’s a secure and reliable way to receive your refund.
Checking the status of your refund
You can check the status of your refund using the “Where’s My Refund?” tool on the IRS website. This tool will let you know when your refund was processed and when you can expect to receive it.
Keeping your information up-to-date
To avoid any delays in receiving your refund in the future, make sure to keep your bank account information up-to-date with the IRS. You can do this by filing Form 8822, Change of Address, or Form 8822-B, Change of Address or Responsible Party – Business.
In conclusion, if your bank account information is incorrect or outdated, the IRS will still send you a check for your tax refund. This might take a little longer than receiving a direct deposit, but it’s a secure and reliable way to receive your money. Make sure to keep your information up-to-date with the IRS to avoid any delays in the future.
Posted: March 15, 2023