Save and Spend on Tax Day AARP VIVA

Save and Spend on Tax Day AARP VIVA

Save and Spend on Tax Day — AARP VIVA

Save and Spend on Tax Day

Get the most out of your IRS options

Now you can spend and save your tax refund. Under guidelines, if you use direct deposit for your refund, you can divide it among up to three checking and savings accounts, regardless of which 1040 form you use or whether you file a paper or electronic return. And by using direct deposit, you’ll get your refund sooner than waiting for a check. File Form 8888 with your return, and be sure to verify the routing and account numbers with the institutions because you are responsible for any mistakes.

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With split refunds, the IRS hopes taxpayers will save more and rely less on refund anticipation loans.

Hispanics are more likely than others to take out these advances, which charge high fees. The IRS also recommends adjusting employee withholding to pay only the taxes required. While a refund may feel like a bonus, it’s giving the government an interest-free loan.

Visit to learn more and download Form 8888. For more information, visit online , which can provide year-round tax counseling, 24 hours a day, seven days a week. Cancel You are leaving AARP.org and going to the website of our trusted provider. The provider’s terms, conditions and policies apply. Please return to AARP.org to learn more about other benefits. Your email address is now confirmed. You'll start receiving the latest news, benefits, events, and programs related to AARP's mission to empower people to choose how they live as they age. You can also by updating your account at anytime. You will be asked to register or log in. Cancel Offer Details Disclosures

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