Step-by-Step Guide: How to Change Bank Information on TurboTax
Tax returns are critical for many people, especially if you are a salaried person. Your taxes determine your financial status in the eyes of the government. Tax filings also require accurate information, including your bank account details. Therefore, it’s common for people to want to change their bank information, which leads us to TurboTax. TurboTax is an American tax preparation software that helps people with online tax returns. In this blog post, we will guide you through the steps on how to change bank information on TurboTax.
Step 1:
Open TurboTax on your web browser
The first step in the process of changing bank information on TurboTax is to open the application in your web browser. Once you open the application, you can log in using your credentials or through the ‘Sign in’ button present on the app.
Step 2:
Navigate to the ‘Accounts & Settings’ section
Once logged in, you can navigate to the ‘Accounts & Settings’ section to change your bank information. You can find this section at the top right of your TurboTax screen.
Step 3:
Select the ‘Bank Accounts’ option
In the ‘Accounts & Settings’ section, select the ‘Bank Accounts’ option. Here you can view your current bank information. If you intend to change your bank information, select the ‘Edit’ button.
Step 4:
Enter your new bank information
After selecting the ‘Edit’ button, you can add your new bank information in the relevant fields. Ensure you enter the correct information to avoid any errors when filing your taxes.
Step 5:
Follow the prompts and verify your bank information
After inputting your new bank account information, TurboTax will verify the updated details to ensure they are correct. It does so by depositing and withdrawing small amounts into your bank account then requesting you to verify the exact amounts deposited. Once you verify the amounts, your new bank information will be successfully updated.
Conclusion
In conclusion, changing your bank information on TurboTax is a simple process that you can complete in just a few steps. By following the above steps, you can ensure that you file your taxes accurately, using the correct bank account information. Remember, it’s essential to make accurate and timely tax returns to avoid any penalties or legal procedures. Happy filing!
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