Step-by-Step Guide: How Do I Update My Banking Information with the IRS?

Updating your banking information with the IRS is a crucial step to avoid any last-minute hassle when receiving tax refunds or any stimulus payments from the government. With the prevalent increase in digital banking, the IRS has made it easier than ever to update your banking information online. In this step-by-step guide, we will walk you through the process of updating your banking information with the IRS with ease.

Step 1: Gather the Required Documents

Before you start the process of updating your banking information, ensure that you have the necessary documents at hand. You will need your Social Security or Individual Taxpayer Identification Number (ITIN), your filing status, and your exact refund amount from your tax return. If you are married and filing jointly, you’ll need to have your spouse’s information on hand as well.

Step 2: Visit the IRS website

Once you have collected the necessary documents, head over to the IRS website. You can access the website here: https://www.irs.gov/

Step 3: Click on ‘Get My Payment’ Option

After accessing the website, click on the ‘Get My Payment’ option on the home page.

Step 4: Confirm Your Details

You will then be asked to confirm your identity and provide the necessary information. The website will ask for personal information like your name, date of birth, and your social security number.

Step 5: Enter Your Banking Information

Next, you will be asked to enter your banking information. This includes your bank account’s routing number and account number. If you are unsure of these numbers, they can be found on your checkbook or bank statement.

Step 6: Review Your Information

After entering your banking information, review your details to ensure that all the information provided is accurate. Once you are satisfied, submit the information.

Step 7: Confirmation of Submission

After submitting your information, the website will display a confirmation message. You will also receive a confirmation email from the IRS.

Conclusion:

Updating your banking information with the IRS is a simple process that can be done easily online. With the above step-by-step guide, you can now update your banking information with ease and avoid any last-minute issues with your tax refunds or government stimulus payments. It is essential to keep your banking information up to date with the IRS to ensure timely and hassle-free transactions.