8862 Information To Claim Earned Income Credit After Disallow

2006 Form 8888, Direct Deposit of Refund
Purpose: This is the first circulated draft of the 2006 Form 8888 for your review
and comments. See below for a general explanation of this new form.
TPCC Meeting: None, but may be arranged if requested.
Other Products: Circulations of draft tax forms, instructions, notices, and
publications are posted at:
http://taxforms.web.irs.gov/draft_products.html
Comments: Please email, fax, call, or mail any comments by August 18, 2006.

Kevin Coulter
Tax Forms and Publications
SE:W:CAR:MP:T:I:F
NCFB C7-225
Email: [email protected]
Phone: 202-283-0114
Fax: 202-283-7008
Explanation of 2006 Form 8888
Form 8888 is used by taxpayers who wish to split the direct deposit of their refund among
two or three accounts. This option is provided per the President’s FY 06 Budget.

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I.R.S. SPECIFICATIONS

TO BE REMOVED BEFORE PRINTING

INSTRUCTIONS TO PRINTERS
FORM 8888, PAGE 1 of 2
MARGINS: TOP 13 mm (1⁄ 2"), CENTER SIDES.
PRINTS: HEAD to HEAD
PAPER: WHITE WRITING, SUB. 20.
INK: BLACK
1
FLAT SIZE: 216 mm (8 ⁄ 2") 3 279 mm (11")
PERFORATE: (NONE)

Date

8888

Date

Revised proofs
requested

OMB No. 1545-0074

Direct Deposit of Refund
©

©

Department of the Treasury
Internal Revenue Service

See instructions below and on back.

Attachment
Sequence No.

56

Your social security number

1a

1a Amount to be deposited in first account
b Routing number
d Account number

©c

Checking

Savings

2a

2a Amount to be deposited in second account

©c

b Routing number
d Account number

Checking

Savings

3a

3a Amount to be deposited in third account

©c

b Routing number
d Account number
4

2006

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Attach to Form 1040, Form 1040A, Form 1040EZ, Form 1040NR, Form 1040NR-EZ,
Form 1040-SS, or Form 1040-PR.

Name(s) shown on return

Signature

O.K. to print

DO NOT PRINT — DO NOT PRINT — DO NOT PRINT — DO NOT PRINT

Form

Action

Checking

Savings

Total amount to be directly deposited. Add lines 1a, 2a, and 3a. The total must equal the amount
shown on Form 1040, line 74a; Form 1040A, line 45a; Form 1040EZ, line 12a; Form 1040NR,
line 72a; Form 1040NR-EZ, line 24a; Form 1040-SS, line 12a; or Form 1040-PR, line 12a

General Instructions
Purpose of Form
Use Form 8888 if you want us to directly
deposit your tax refund into either two or
three of your accounts at a bank or
other financial institution (such as a
mutual fund, brokerage firm, or credit
union) instead of sending you a check.
An account can be a checking, savings,
or other account such as an individual
retirement arrangement (IRA) (see page 2
for more information on IRAs), health
savings account (HSA), Archer MSA, or
Coverdell education savings account
(ESA). You cannot have your refund
deposited into more than one account if
you file Form 8379.
Note. If you want your refund deposited
into only one account, do not complete
this form. Instead, you can request a
direct deposit of your refund on the tax
return you are filing.

4

Some financial institutions will
not allow a joint refund to be
deposited into an individual
CAUTION account. If the direct deposit
is rejected, a check will be sent instead.
The IRS is not responsible if a financial
institution rejects a direct deposit.

Why Use Direct Deposit?

● You get your refund faster by direct
deposit than you do by check.
● Payment is more secure. There is no
check that can get lost or stolen.
● It is more convenient. You do not have
to make a trip to the bank to deposit
your check.
● It saves tax dollars. It costs the
government less to refund by direct
deposit.
The IRS is not responsible for
lost refund if you enter the
TIP awrong
account information.
You can check with your
financial institution to get the correct
routing and account numbers and make
sure your deposit will be accepted.

Lines 1a, 2a, and 3a
Enter the portion of your refund you
want directly deposited into each
account. Each deposit must be at least
$1. The amount of your refund can be
found on Form 1040, line 74a; Form
1040A, line 45a; Form 1040EZ, line 12a;
Form 1040NR, line 72a; Form
1040NR-EZ, line 24a; Form 1040-SS,
line 12a; or Form 1040-PR, line 12a. The
total of lines 1a, 2a, and 3a must equal
the total amount of your refund.

Specific Instructions

Lines 1b, 2b, and 3b

If you file a joint return and you
complete and attach Form 8888, you are
appointing your spouse as an agent to
receive the refund. This appointment
cannot be changed later.

The routing number must be nine digits.
The first two digits must be 01 through
12 or 21 through 32. Otherwise, the
direct deposit will be rejected and a

Sample Check

1234

JEFFREY MAPLE
SUZANNE MAPLE
123 Pear Lane
Anyplace, VA 20000

Ä

SA
M
PL

E

15-0000/0000

PAY TO THE
ORDER OF

ANYPLACE BANK
Anyplace, VA 20000

Routing
number

DOLLARS

Account
number

"’86". 1234

Do not include
the check number.

Ä

For
|:250250025|:202020

$

Note. The routing and account numbers may be in different places on your check.
For Paperwork Reduction Act Notice, see back.

Cat. No. 21858A

Form

8888

(2006)

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I.R.S. SPECIFICATIONS

TO BE REMOVED BEFORE PRINTING

INSTRUCTIONS TO PRINTERS
FORM 8888, PAGE 2 of 2
MARGINS: TOP 13 mm (1⁄ 2"), CENTER SIDES.
PRINTS: HEAD to HEAD
PAPER: WHITE WRITING, SUB. 20.
INK: BLACK
1
FLAT SIZE: 216 mm (8 ⁄ 2") 3 279 mm (11")
PERFORATE: (NONE)

DO NOT PRINT — DO NOT PRINT — DO NOT PRINT — DO NOT PRINT

Form 8888 (2006)

check sent instead. On the sample
check on page 1, the routing number is
250250025.
Your check may state that it is
payable through a financial institution
different from the one at which you have
your account. If so, do not use the
routing number on that check. Instead,
contact your financial institution for the
correct routing number to enter.

Lines 1c, 2c, and 3c
Check the appropriate box for the type
of account. Do not check more than one
box for each line. If your deposit is into
an account such as an IRA, HSA, or
other similar account, check the
“Savings” box.

Line 4
The total on line 4 must equal the
amount you want refunded to you
shown on your tax return (Form 1040,
line 74a; Form 1040A, line 45a; Form
1040EZ, line 12a; Form 1040NR, line
72a; Form 1040NR-EZ, line 24a; Form
1040-SS, line 12a; or Form 1040-PR,
line 12a). If the total on line 4 is different,
a check will be sent instead.
Individual Retirement Arrangement
(IRA). You must establish the IRA at a
bank or other financial institution before
you request direct deposit. You must
also notify the trustee of your account of
the year to which the deposit is to be
applied. If you do not, the trustee can
assume the deposit is for the year
during which you are filing the return.
For example, if you file your return
during 2007 and do not notify the
trustee in advance, the trustee can
assume the deposit into your IRA is for
tax year 2007. If you designate your
deposit to be for the tax year for which
you are filing the return, you must verify
that the deposit was actually made to
the account by the due date of the
return (without regard to extensions). If
the deposit is not made into your
account by the due date (without regard
to extensions), you must file an
amended return and not claim an IRA
deduction.
You, and your spouse if filing jointly,
each may be able to contribute up to
$4,000 ($5,000 if age 50 or older at the
end of 2006) to a traditional IRA or Roth
IRA for 2006. The same limits apply for
2007.
For more information on IRAs,
Pub. 590, Individual
TIP see
Retirement Arrangements
(IRAs).

Page

Changes in Refund Due to
Math Errors or Refund
Offsets

2

prior tax year. You will not received the
$100 you asked us to deposit into the
account on line 3 and the deposit into
the account shown on line 2 will be
reduced by $50.
Other offsets. If you owe other
past-due amounts subject to offset by
the Treasury Department’s Financial
Management Service (FMS), the
past-due amounts will be deducted first
from the account with the lowest routing
number. Any remaining amount due will
be deducted from the account with the
next lowest routing number and then
from the account with the highest
routing number.

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If your refund is increased or decreased
due to a math error or if your refund is
offset to pay past-due federal tax, state
income tax, child support, spousal
support, or certain federal nontax debts,
such as student loans, the rules below
explain how your direct deposits will be
adjusted.
Refund increased. If you made an error
on your return and the amount of your
refund is increased, the additional
amount will be deposited into the last
account listed. If you asked that your
refund be split among three accounts,
any increase will be deposited into the
account shown on line 3. If you asked
that your refund be split among two
accounts, any increase will be deposited
into the account shown on line 2.
Example. Your return shows a refund
of $300 and you ask that the refund be
split among three accounts with $100 in
each account. Due to an error on the
return, your refund is increased to $350.
The additional $50 will be added to the
deposit into the account shown on
line 3.
Refund decreased. If you made an
error on your return and the amount of
your refund is decreased, the decrease
will be taken first from any account
shown on line 3, next from the account
shown on line 2, and finally from the
account shown on line 1.
Example. Your return shows a refund
of $300 and you ask that the refund be
split among three accounts with $100 in
each account. Due to an error on your
return, your refund is decreased by
$150. You will not receive the $100 you
asked us to deposit into the account on
line 3 and the deposit into the account
shown on line 2 will be reduced by $50.
Note. If you appeal the math error and
your appeal is upheld, the resulting
refund will be deposited into the account
on line 1.
Past-due federal tax. If you owe
past-due federal tax and your refund is
offset by the IRS to pay the tax, the
past-due amount will be deducted first
from any deposit into an account shown
on line 3, next from the deposit into the
account shown on line 2, and finally
from the deposit into the account shown
on line 1.
Example. Your return shows a refund
of $300 and you asked us to split the
refund among three accounts with $100
in each account. You owe $150 from a

Printed on recycled paper

If the deposit into one or more
of your accounts is changed
due to a math error or refund
CAUTION offset, and that account is
subject to contribution limits,
such as an IRA, or the deposit was used
as a deduction on your tax return, you
may need to correct your contribution or
file an amended return.
Example. You deduct $1,000 on your
2006 tax return for an IRA contribution.
The contribution is to be made as a
direct deposit from your 2006 refund.
Due to an offset by the FMS, the direct
deposit is not made into your IRA. You
need to correct your contribution by the
due date of your return (determined
without regard to any extension) or file
an amended return.

Paperwork Reduction Act Notice. We
ask for the information on this form to
carry out the Internal Revenue laws of
the United States. You are required to
give us the information. We need it to
ensure that you are complying with
these laws and to allow us to figure and
collect the right amount of tax.
You are not required to provide the
information requested on a form that is
subject to the Paperwork Reduction Act
unless the form displays a valid OMB
control number. Books or records
relating to a form or its instructions must
be retained as long as their contents
may become material in the
administration of any Internal Revenue
law. Generally, tax returns and return
information are confidential, as required
by Internal Revenue Code section 6103.
The average time and expenses
required to complete and file this form
will vary depending on individual
circumstances. For the estimated
averages, see the instructions for your
income tax return.
If you have suggestions for making
this form simpler, we would be happy to
hear from you. See the instructions for
your income tax return.