"

Estimated reading time: 1 minute, 6 seconds

Amended Returns Get Direct Deposit

Thursday, Feb 09 2023
Tax
Written by 

BankTaxpayers filing Form 1040-X for amended income tax returns can now have refunds directly deposited. The Internal Revenue Service announced the capability this week

Processing time is more than 20 weeks for both paper and electronically filed amended returns, as all amended returns are processed  manually.

The IRS began accepting the Form 1040-X electronically in 2020 but had not offered the direct deposit option.  Direct deposit is still not available on amended returns submitted on paper.

Those filing an original tax return using tax preparation software can efile the form if the software manufacturer offers that service.

Bob Scott
Bob Scott
Bob Scott has provided information to the tax and accounting community since 1991, first as technology editor of Accounting Today, and from 1997 through 2009 as editor of its sister publication, Accounting Technology. He is known throughout the industry for his depth of knowledge and for his high journalistic standards.  Scott has made frequent appearances as a speaker, moderator and panelist and events serving tax and accounting professionals. He  has a strong background in computer journalism as an editor with two former trade publications, Computer+Software News and MIS Week and spent several years with weekly and daily newspapers in Morris County New Jersey prior to that.  A graduate of Indiana University with a degree in journalism, Bob is a native of Madison, Ind
Read 2731 times
Rate this item
(0 votes)
More in this category: «  Preparer Sentenced to Three Years IRS: Returns Rise 13.5 percent »
Bob Scott

Latest from Bob Scott

Visit other PMG Sites:
Template Settings
Theme

Color

For each color, the params below will give default values
Tomato Green Blue Cyan Dark_Red Dark_Blue

Body

Background Color
Link Color
Text Color

Header

Background Color
Background Image
pattern1 pattern2 pattern3 pattern4 pattern5

Footer

Background Color
Background Image
pattern1 pattern2 pattern3 pattern4 pattern5
Layout
Select layout
Menu
Select menu
Typography
Google Font
Body Font-size
Body Font-family
Direction
Reset
PMG360 is committed to protecting the privacy of the personal data we collect from our subscribers/agents/customers/exhibitors and sponsors. On May 25th, the European's GDPR policy will be enforced. Nothing is changing about your current settings or how your information is processed, however, we have made a few changes. We have updated our Privacy Policy and Cookie Policy to make it easier for you to understand what information we collect, how and why we collect it.
Ok Decline