Direct Deposit Your Refund in up to 3 Accounts

A new feature on the 2006 tax forms, you can ask the IRS to deposit your tax refund into 1, 2, or 3 bank accounts. This new feature is called "split refunds," and you use IRS Form 8888 to designate your bank accounts. People are using the split refund option to send part of their refund to an individual retirement account. Just be sure to triple check your bank routing and account numbers! Kay Bell reports that thousands of taxpayers a year lose their refunds forever because they inadvertently transposed their direct deposit numbers. Don't let that happen to you!