Bank Tab Annoyances

[Chowdahead]

I'm not really liking this new Bank Tab, as I think it duplicates work and makes it more complicated than years past.  Plus I think that the splitting of the refund into different accounts is going to lead to a lot if fraud by unscrupulous paid preparers, and depositing a refund into an account with a different name leaves the preparer open to liability since the IRS doesn't require the taxpayer to even sign off on doing it..

 

But my question here relates to the fields for "Account holder First, Middle Initial, and Last name, as well as the Bank Name?

 

Are these fields really required if the refund is going into the taxpayer's own account?  It seems rather unnecessary and repetitive. Leaving them blank doesn't even generate a yellow warning during an Error Check.

 

My biggest concern is that I may misspell the client's name in these fields or spell the name of the bank wrong and then the deposit won't go through.  I'm not sure why ATX pre-fills these fields when using Fee Collect yet doesn't pre-fill them for direct deposit.  It is annoying!

 

Any thoughts?

Edited February 16, 2015 by Chowdahead

[Jack from Ohio]

The only fields needed are routing and account number.  I leave all others blank.

[TAXMAN]

I too leave them blank and refunds appear to be going as directed. At least the ones I have checked.

[easytax]

Yes, the rte & account number are that is REALLY needed. HOWEVER --- I would like the IRS and subsequently ATX to reguire proper names, etc.

It would definitely help if they matched more than numbers here --- could a thief (yes they can do anything but realistically) open multiple accounts under numerous names --- it would make it harder to get unwarranted refunds, etc.


Again, when direct deposit first was offered, names, accounts, etc. HAD to MATCH or it was a paper check or possibly a "hold" until contacted.

Given the attitude of being "afraid" to offend the IRS (read congress, probably) opened it to less than secure ways. NOW they (congress) want to back-pedal WITHOUT offending anyone (except those big-mean-hearted-criminal-less-than-hard-working-practitioners).

fact sharing and RANT over.

[ljwalters]

Thanks for the post.  I have been filling them completely out.  But not printing.  I will not longer waist my time.

[grandmabee]

I customized the master and all I have to do is if client is a paper check then uncheck two boxes otherwise I do nothing different than last year and mark on the efile infor form