IRS Form 8888 Allocation of Refund (Including Savings Bond Purchases)

What Is IRS Form 8888?

This is a tax form that was released by the Internal Revenue Service (IRS) - a subdivision of the U.S. Department of the Treasury. As of today, no separate filing guidelines for the form are provided by the IRS.

FAQ

Q: What is IRS Form 8888?
A: IRS Form 8888 is used to allocate your tax refund to different accounts or investments.

Q: Why would I need to use Form 8888?
A: You would need to use Form 8888 if you want to split your tax refund into multiple accounts, such as a checking account, savings account, or even to purchase savings bonds.

Q: What can I allocate my tax refund to using Form 8888?
A: You can allocate your tax refund to a checking account, savings account, individual retirement arrangement (IRA), health savings account (HSA), or to purchase savings bonds.

Q: Can I use Form 8888 to allocate my tax refund to someone else?
A: No, Form 8888 can only be used to allocate your tax refund to accounts that you own or to purchase savings bonds in your name.

Q: Is there a limit to the number of allocations I can make on Form 8888?
A: No, there is no limit to the number of allocations you can make on Form 8888. You can split your refund into as many accounts as you wish.

Q: Can I use Form 8888 if I am receiving a direct deposit refund?
A: Yes, you can still use Form 8888 to allocate your direct deposit refund to different accounts or investments.

Q: Do I need to attach any documents to Form 8888?
A: No, you do not need to attach any documents to Form 8888. However, you should keep a copy of the form for your records.

Q: When is the deadline to submit Form 8888?
A: The deadline to submit Form 8888 is usually the same as the deadline to file your tax return, which is April 15th (unless that date falls on a weekend or holiday).