Starting this year, you can direct the IRS to deposit your tax refund to up to three different accounts, according to an article at AARP.org. You could, for example, ask that a quarter of your refund go into your checking account and the balance into a savings account.

The idea is that if you put some of it in savings, you’re less likely to spend the whole refund. It’s kind of a way to trick yourself into saving more.

Of course, you’ll need to accept your refund by direct deposit, which you can do on IRS Form 1040.

To split your refund into different accounts you need to fill out IRS Form 8888.

Labels: irs, refund, seniors, split refunds