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Amended Returns Get Direct Deposit

Thursday, Feb 09 2023
Tax
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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
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