I Need to Change the Bank Account Information Where My Direct Deposit is Going, Can You Help?
Many people mistake our site as a chat for the IRS. We are a tax resolution firm helping people solve tax problems. Some things like changing the account where your direct deposit is going, can only be done by you. How and if you can change your direct deposit information will depend on if the return has already been accepted for processing and if the IRS has released the funds.
Return Has Been Accepted for Processing
It’s possible to change or update your direct deposit information with the IRS for your tax refund ; it’s just a matter of if your return has been accepted. If you haven’t filed your return, or if the IRS rejected your return, you can change the account number and routing number when you resubmit. If the IRS has accepted your return already, you won’t be able to change your bank and routing number for your tax refund without contacting the IRS directly.
If you submit your tax return and you later find out that there’s an error, you can contact the IRS to update the payment information if the refund hasn’t been issued yet. If the refund has been issued, then its too late, you will receive a paper check in the mail instead.
Getting a paper check can mean waiting 6 to 8 weeks to receive your money, compared to the 3-week wait for direct deposit. But it can be well worth the wait if it means your refund lands in your hands and not someone else’s.
What If You or Your Preparer Listed the Wrong Banking Information
The IRS takes no responsibility for refunds that are misdirected to another person’s bank account as a result of taxpayer or tax preparer error. In other words, if you contact the IRS about refunds that were incorrectly deposited because of your (or your tax preparer’s) mistake, it won’t be able to help since the funds have now left their office, taking it out of their hands.
If you do call a financial institution, be prepared to make your case for having the refund amount returned to you. Explain what happened and the error that led to the direct deposit being incorrectly reported. You may also need to provide documentation, such as a copy of your tax return, so keep a record of all of your tax documents just in case.
If you haven’t had any luck after 2 weeks, you can file Form 3911, Taxpayer Statement Regarding Refund. Submitting this form allows the IRS to reach out to the banking institution on your behalf to find out where the money went and attempt to recover it. This can take up to 90 days, so it’s a good idea to put any plans you had for your refund on hold until you know when and if you are getting your money back.
If you have no luck after both of those efforts, the last option is to take legal action, which could end up costing you more money than your refund is worth. Talk to a professional or expert in the field before making a decision and weigh your options before moving forward.
You can also view your refund status within 24 hours after the IRS receives your return or 6-8 weeks after mailing it in.
Below are some things we may be able to help you with that may be cost-effective.
Filing or amending back tax returns to get refunds or stimulus payments
Solving tax problems (Federal or State)
Obtaining an EIN or ITIN number
Filing a US or Non-resident return
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