Step-by-Step Guide: How to Change Your Banking Information with the IRS

Introduction

The Internal Revenue Service (IRS) is responsible for handling taxes in the United States. As part of their process, the IRS requires accurate and up-to-date banking information for taxpayers who receive refunds or make payments by direct deposit. If you need to change your banking information with the IRS, you want to ensure that you get it right. In this article, we’ll take you through a step-by-step guide on how to change your banking information with the IRS.

Step 1: Locate Your Last Tax Return

Before you can change your banking information with the IRS, you need to locate your last tax return. You’ll need this document as it contains important information such as your social security number and previous banking information. You can find your last tax return by searching for it on your computer, requesting a copy from your tax preparer, or by reaching out to the IRS directly.

Step 2: Fill Out Form 8822-B

Once you have your last tax return, you’re ready to fill out Form 8822-B, Change of Address or Responsible Party. This form is required if you want to change your banking information with the IRS. Section 3 of Form 8822-B is where you will provide your new banking information.

Step 3: Verify Your Information

Before submitting your form, it’s important to verify that the information you’ve provided is correct. Ensure that you’ve filled out every required field on Form 8822-B and that your new banking information is accurate. Submitting incorrect information can lead to delays or issues when processing your taxes.

Step 4: Submit Your Form

Once you’ve verified your information, you’re ready to submit Form 8822-B to the IRS. You can submit it online, through the mail, or by fax. It’s important to note that if you submit your form online, you will need to have an IRS account and be authorized to make changes to your account.

Conclusion

Changing your banking information with the IRS can seem intimidating, but it doesn’t have to be. By following these simple steps, you can ensure that your information is accurately updated and that you avoid any issues with your taxes. Remember, always verify your information and submit your form in a timely manner to ensure a smooth process.

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