Can I deposit my tax refund in someone else’s account

Can I submit my tax refund on someone else’s account?

Can I deposit my tax refund in someone else’s account? To answer this, while there are no IRS rules that specifically prevent you from depositing your refund in someone else’s account, we do not recommend it. Why not? Most banks have fraud prevention measures that will not allow direct deposit into an account with a different name. If you decide to enter another person’s account information anyway, the bank may reject your IRS direct deposit request because the name on the refund (yours) is not compatible with the account holder. The IRS will have to reprocess the refund, collect a check and mail it. You will get (finally) your refund, but it will take longer than you would if you requested a check first.

Endorsement Check

before submitting the paper check for your tax return, you must first sign the back for approval. This applies to any paper check you receive, with the exception of those marked “for a deposit”, which can only be deposited in your own bank account. In most cases, you can only sign your name on the back of the check. After you have endorsed the check, your friend or relative must also endorse the certificate by signing the name below. To avoid problems, such as making bank officials think if the check is stolen, they may want to do it together before a bank counter. Give a photo ID if the enumerator asks you to prove that I am the check.

Using special endorsements

only with your signature on the back of a check can you verify, in fact, a blank check that anyone could use? If you cannot go to the bank with your relative, use a special endorsement to ensure that only you’re relative can present it. To do this, write “pay the order” on the back of the check, followed by your relative’s name, and then sign your name under your name.

Check yourself

As long as you have a full name and your relative’s full account number, you can go to your own bank and deposit the check. Anyone can deposit money in a bank account, although withdrawing money is not an option. You should not sign the back of the check until you are in front of the counter. If the check has already been signed, you may be asked to sign it again. It may be an option to go to an ATM to deposit a check, as long as you know your relative PIN. For example, if your relative granted you a power of attorney to perform your banking operations, you could access the ATM in your bank account. However, in most cases, a relative must stay.

Deposit checks in your account

if you intend to use a user bank account to deposit a check since you are concerned that the bank will take checks from your own deposit, contact your bank to request your government check policy. If you personally go to the bank, instead of using an ATM, the bank can make the funds available for withdrawal no later than the next business day.

On the other hand, if you go to an ATM, you may have to wait a few more days. Because it takes time to collect the ATM check, hand it over to your bank and then process it. Now you have details for the question can I deposit my tax refund in someone else’s account.