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

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

If you are expecting a refund from the IRS, then you must keep your banking information up-to-date. Your banking information is an essential component as it allows the IRS to securely and directly deposit your refund into the account you have specified. Updating your banking information with the IRS may seem like a daunting task, but it is a simple process. In this article, we will help you with a step-by-step guide on how to update your banking information with the IRS.

Step 1: Gather all required documents

The first step in updating your banking information with the IRS is to get all documents that you need. You will need your bank account number and routing number which can be easily found on your check or bank statement, tax return, filing status, and your social security number.

Step 2: Choose the method of updating your banking information

After gathering all the necessary documents, you must choose the method of updating your banking information. The IRS offers three methods for updating your banking information. These methods are:

Method 1: Use the “Get My Payment” Tool

If you have already filed your tax return and are expecting a refund, you can use the “Get My Payment” tool to update your banking information. This method is straightforward, and all you need to do is follow the prompts and fill in the required fields.

Method 2: File an Amended Tax Return

If you have not yet filed your tax return, you can file an amended return with your updated banking information. Make sure that you check the box indicating “Amended Return” on the form to avoid delays in processing your refund.

Method 3: Call the IRS

If you have tried both methods with no success and still need help updating your banking information, you can call the IRS at 800-829-1040 and speak to a representative.

Step 3: Verify the Updated Information

After you have provided your updated banking information, the IRS will send a confirmation letter or email to verify the update. It is crucial to read and verify the information provided to ensure that it is correct. If there are any errors, make sure to contact the IRS to rectify the mistake.

Key Takeaways

In conclusion, updating your banking information with the IRS is a simple three-step process that can be done through one of three methods. The methods are using the “Get My Payment” tool, filing an amended tax return, or calling the IRS to speak with a representative. It is crucial to verify that the updated information provided is correct to avoid any delays or issues in receiving your refund. We hope this step-by-step guide has provided you with all the necessary information to update your banking information with the IRS seamlessly.

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