Who Needs Form 8888?
Tax Form 8888 is filed as a claim for Allocation of Refund (Including Savings Bond Purchases). It should be filed by individual taxpayers who are willing to deposit the refund form the paid taxes, fully or partially, to one or more accounts at a bank or other type of a US financial institution: mutual fund, credit union or brokerage company. The other case for filling out the form is using the refund or part of it for the purchase of up to $5,000 in paper or electronic series I savings bonds.
Is Form 8888 Accompanied by any Other Documents?
Form 8888 is not an individual document, it must be attached to the US Individual Tax Return (Form 1040 or equivalent).
When is Form 8888 Due?
Because of the requirement to attach the form to the tax return, the deadline coincides with Form 1040’s due date. All taxpayers are obliged to submit their income report by the fifteenth day of the fourth month following the end of the calendar year. Typically, the the tax day falls on April 15th, but in 2017 it’s April 18th.
How do I Fill out Form 8888?
Besides the form as such, the fillable document also contains an instruction to help taxpayers file the Allocation for Refund properly. However, the one-page form is not difficult to complete. It is necessary to fill out either Part I or Part II depending on the type of allocation requested, Part III (Paper Check) if applicable and Part IV (Total Allocation of Refund).
Where do I Send the Completed Form 8888?
So far as the form is to be attached to the Federal Income Tax Return, logically, the destination of Form 8888 is also the local IRS office.
