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Video instructions and help with filling out and completing What 8850 Form Refund

Instructions and Help about What 8850 Form Refund

Let's see how Frank a tax preparer using tax layer Pro online use it the software to start a conversation about splitting the taxpayers refund okay coming down the homestretch here as I said with the dependents and the credits related to your kids you will be getting back eight thousand seven hundred from the IRS and another one hundred and thirty from the state great so was next I'm just making some finishing entries to get your taxes ready to file electronically the next item asks for information about your bank or credit union accounts for a direct deposit account more than one yes you can split your refund into two or three accounts or by US savings bonds some people like to put some money right into checking and spend it right away and then the rest into savings so there's a little left over for emergencies like like a car repair or a medical bill or a life goal like buying a new house III do want to save some money but once I get the refund I'll just divvy it up and do it myself sure you can do that but it's generally easier to let your tax return do that for you I mean I just indicate whether each account is checking or savings and then I enter the bank name routing number and the account number for whichever account you'd like okay I mean I have all these items with me but wait wait this is going to slow things down no no not at all a special form gets filed electronically along with your tax return you get the deposits in both accounts and the usual amount of time okay great here's the numbers for my checking and savings accounts all right excellent...

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