GeneInAlabama Posted February 13, 2011 Report Share Posted February 13, 2011 I have a client that is in the process of getting a divorce and are filing joint because of the EIC. They would like to have half of the refund deposited into each of their separate checking accounts. The husband will be out of the state at the time the check would be received if mailed. Will this work? Quote Link to comment Share on other sites More sharing options...
Eli Posted February 13, 2011 Report Share Posted February 13, 2011 I have a client that is in the process of getting a divorce and are filing joint because of the EIC. They would like to have half of the refund deposited into each of their separate checking accounts. The husband will be out of the state at the time the check would be received if mailed. Will this work? Not at home, but check out form 8888 & see if this is what you need. Eli Quote Link to comment Share on other sites More sharing options...
10SorTAX Posted February 14, 2011 Report Share Posted February 14, 2011 Wise tax advice AND marriage advice, Eli! Quote Link to comment Share on other sites More sharing options...
Kea Posted February 14, 2011 Report Share Posted February 14, 2011 I think it will also depend on the bank. The electronic deposit for IRS will be in both spouses names. If both names are not on the account, the bank may refuse it. Quote Link to comment Share on other sites More sharing options...
Jack from Ohio Posted February 14, 2011 Report Share Posted February 14, 2011 Kea is correct. The only possible hitch if you use Form 8888 would be the policies of the receiving banks. Each bank has its own guidlines about such things. Quote Link to comment Share on other sites More sharing options...
Eli Posted February 14, 2011 Report Share Posted February 14, 2011 Wise tax advice AND marriage advice, Eli! Marriage advice? I only mentioned Form 8888 :-) Eli Quote Link to comment Share on other sites More sharing options...
GeneInAlabama Posted February 14, 2011 Author Report Share Posted February 14, 2011 Thanks everyone. I'll have both parties check with their bank on this. Quote Link to comment Share on other sites More sharing options...
LisaAnn Posted February 14, 2011 Report Share Posted February 14, 2011 Gene, You should have no problem; I filed a few returns with split deposits into separate accounts last season and they all worked out fine! Quote Link to comment Share on other sites More sharing options...
Lion EA Posted February 14, 2011 Report Share Posted February 14, 2011 There are ordering rules on Form 8888 in case the refund ends up being more/less than on return which would make the split other than the 50/50 expected. Make sure your clients understand. And, as has been mentioned, have clients check with their banks. Quote Link to comment Share on other sites More sharing options...
10SorTAX Posted February 15, 2011 Report Share Posted February 15, 2011 Funny, when I read the end of the question, "will this work?", and you responded "not at home," I thought you were making a joke that getting a divorce and co-mingling joint funds would not work in their living situation "at home." Now I realize that you were making reference to not being near your reference materials. It made me chuckle anyway. I'll take any levity at this point, even if it's just a figment of my imagination. Quote Link to comment Share on other sites More sharing options...
Eli Posted February 15, 2011 Report Share Posted February 15, 2011 Funny, when I read the end of the question, "will this work?", and you responded "not at home," I thought you were making a joke that getting a divorce and co-mingling joint funds would not work in their living situation "at home." Now I realize that you were making reference to not being near your reference materials. It made me chuckle anyway. I'll take any levity at this point, even if it's just a figment of my imagination. Thats funny! I was wondering where you got the marriage advice thingy lol Have a great season!! Eli Quote Link to comment Share on other sites More sharing options...
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