How to Change Your Bank Information with the IRS: A Step-by-Step Guide
Introduction
The Internal Revenue Service (IRS) is responsible for the collection of taxes in the United States. To ensure that they can easily reach taxpayers, the IRS requires accurate banking information. However, there may come a time when a taxpayer needs to update their bank information with the IRS. In this article, we will provide you with a step-by-step guide on how to change your bank information with the IRS.
Step 1: Gather Information
First and foremost, you will need to gather the necessary information to change your bank information with the IRS. You will need to have your social security number or individual taxpayer identification number (ITIN) and your current address.
Step 2: Choose Your Method
You can change your bank information with the IRS in two ways: online or by mail. To change your information online, you will need to visit the IRS website and use their online tool. Alternatively, you can download Form 8822-B, Change of Address or Responsible Party – Business, and mail it to the IRS.
Step 3: Online Method
If you choose to change your bank information with the IRS online, follow these easy steps:
1. Visit the IRS website and click on the “Get Your Refund Status” tab.
2. Enter your social security number or ITIN, filing status, and refund amount from your tax return.
3. Click “Continue” and then select “Bank Account” from the drop-down menu.
4. Enter your updated banking information.
5. Review your information and click “Submit.”
Step 3: Mail Method
If you choose to change your bank information with the IRS by mail, follow these easy steps:
1. Download and print Form 8822-B from the IRS website.
2. Fill out the form with your updated banking information.
3. Sign and date the form.
4. Mail the form to the IRS at the address provided on the form.
Conclusion
Changing your bank information with the IRS is a simple process that can be done online or by mail. By following these steps, you can update your banking information and ensure that the IRS can easily reach you when necessary. Remember to always keep your banking information updated with the IRS to avoid any delays or complications in the future.
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