Electronic refunds limited to three per account
The
IRS announces that, as part of its efforts to curb fraud and identity theft, it
will no longer directly deposit more than three electronic refunds to a single
financial account or prepaid debit card. Taxpayers who exceed the limit will
receive an IRS notice and a paper refund.
The
IRS also warns that direct deposit must be made only to accounts bearing the
taxpayer's name.
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