User's Manual - Drake Software

Drake Software User’s Manual
Direct Deposit
• The account is in the taxpayer’s name.
Multiple accounts are not allowed if filing Form 8279, Injured Spouse Allocation.
NOTE
A taxpayer cannot request a refund deposit to an account that is in the
name of someone else (such as the tax preparer).
Multiple
Accounts
By default, the program directs the federal refund to the first account entered on the
DD screen. If depositing funds into multiple accounts, complete the Federal selection
field to indicate whether the first account entered should be used for the federal refund
(Figure 5-48). The default selection is Yes.
Figure 5-48: Select No if federal refund is not to go to the account listed.
To indicate that a refund should be distributed into multiple accounts, enter the portions
for each account in the appropriate Federal deposit amount fields on the DD
screen (Figure 5-49). An amount entered here overrides the calculated refund amount.
Figure 5-49: An amount entered in the Federal deposit amount field
overrides the calculated refund amount.
NOTE
Because not all states support multi-account direct deposit, the State
deposit amount field (Figure 5-49) is inactive by default.
Series I
Savings
Bonds
To indicate that a taxpayer wishes to make a Series I Savings Bond purchase from the
tax refund, press PAGE DOWN from the DD screen and fill out the BOND screen. If
the taxpayer wishes to receive the remainder of the refund disbursed as a paper check,
mark the applicable box on the BOND screen.
Direct Deposit of State or City Refund
To have a state or city refund deposited into an account, select the state abbreviation
from the State/city selection field for the account. If this field is left blank, no state
refund will be deposited into the account.
Figure 5-50: State/City selection drop list
Tax Year 2012 159