In an effort to combat fraud and identity theft, new IRS procedures effective January 2015 will limit the number of refunds electronically deposited into a single financial account or pre-paid debit card to three.
The fourth and subsequent refunds automatically will convert to a paper refund check and be mailed to the taxpayer.
Taxpayers also will receive a notice informing them that the account has exceeded the direct deposit limits and that they will receive a paper refund check in approximately four weeks if there are no other issues with the return. Taxpayers can track their refunds at Where’s My Refund?
The vast majority of taxpayers will not be affected by this limitation, and we would encourage taxpayers and tax preparers to continue to use direct deposit. It is the fastest, safest way for taxpayers to receive refunds.
For more info visit Alabama's #1 Income Tax Service at www.mooresservicesonline.com
MOORE'S SEEVICES, LLC
Birmingham, AL 35205
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