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Anyone ever heard of this ? IRS Crap


joessportster

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Filed taxes and indicated for Direct Deposit,  IRS  Status says being Mailed. I Called spent hour on the phone and was told "Some Banks will not accept tax refunds via direct deposit" Now since my paid prepper got my address wrong by 1 number it seems I may be in for a multiple month fiasco.  First they delayed me to get a hard copy of my 1099, after that a 2nd delay to confirm my identity. Now this garbage.

 

I did a search online and could not find any mention of banks ever denying to accept tax refund directly.  

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I imagine the banks have problems with accounts at the bank being in different name(s) than the refund? I do know that I once had a refund check written out to two people and the account I was depositing in had only one name listed. They didn't like that too much.

 

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It has been clearly stated in the past in the instructions for form 1040.  I called my bank first to verify.  This year it didn't matter, since thanks to the wonderful "reforms" designed to enrich those most not in need by taking it from the hard working guy, I had to send them a check.

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1 minute ago, JL Sargent said:

I imagine the banks have problems with accounts at the bank being in different name(s) than the refund? I do know that I once had a refund check written out to two people and the account I was depositing in had only one name listed. They didn't like that too much.

 

I also verified with my bank about that.  It had to do with the deposit being in both spouses name and the bank account only one.  No problems.

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Probably too late....but you might contact your bank and ask them directly.

 

Since your preparer messed up your address......maybe ask them to front you the refund and you'll sign the check over to them on arrival?!!!!

 

If they have a problem taking the joint check into an individual account....  it's perhaps because the "other" person on the check is .....how to put it....  losing control of their money (as far as the bank might know).  I've seen some banks play hardball and need a signature and I've seen some with a passe' attitude and take it.

 

In the brokerage world, there are some things you simply can't do without the joint signature because once the transaction is complete, they are "losing" that asset and the firm wants their signature on file so if they ever came back against the firm on it....  they pull the signature out. (yeah, it happens)

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