If you're expecting a federal tax refund, you can use IRS Form 8888, Allocation of Refund, to divide your refund among multiple accounts when you choose direct deposit.
Our software makes this process simple by guiding you through the refund allocation steps during e-filing.
Before You Start
To receive your federal refund by direct deposit, your name must be associated with each bank account you enter. If the account information doesn't match IRS and bank records, your refund could be delayed or rejected.
How to Split Your Refund Into Multiple Accounts
- Complete your tax return and select E-File from the left-side menu.
- Review your E-File Summary and confirm the information in the:
- Federal section
- State section
- Products and Services section
- Continue to Step Four and select Sign and File Your Return.
- When asked, "Do you want to deposit your full federal amount into a single bank account?", select "No, I want to split my refund between 2-3 bank account".
- Enter the accounts where you want your refund deposited
- Specify how much should go into each account.
- Review your allocations and continue through the remaining e-file steps.
Important Information About Form 8888
- If you choose to file Form 8888 and split your refund among multiple accounts, you are not eligible to use the File & Go option to pay your filing fees from your refund.
- Double-check all routing and account numbers before filing. Incorrect banking information can delay your refund.
- The total amounts allocated must equal your expected federal refund.
Savings Bond Update
The IRS no longer allows taxpayers to purchase paper Series I Savings Bonds with a federal tax refund. As a result, that option is not available when filing Form 8888 for the 2026 tax year.
Need Help Deciding How to Split Your Refund?
Many taxpayers use Form 8888 to send part of a refund to checking, savings, or other eligible accounts. Splitting your refund can be a convenient way to set aside savings, build an emergency fund, or separate money for different financial goals before the refund arrives.
By following the steps above, you can easily allocate your refund to multiple accounts as part of the e-filing process.