REFUND

REFUND:

AMOUNT OVERPAID    (Line 75)

If line 75 is under $1 IRS will send a refund only on written request.

Amount Refunded to You        (Lines 76a to 76d)

Have your 2015 tax return handy so you can enter your social security number, your filing status, and the exact whole dollar amount of your refund. Taxpayer can request a deposit for the refund to a Treasury Direct online account to buy U.S. Treasury marketable securities and savings bonds. 

If the taxpayer wants IRS to directly deposit the refund amount shown on line76A to checking or saving account, including an IRA at a bank or other Financial Institution in the US. Direct deposit of the refund is faster, secure, convenient and economical. 

· Need to complete lines 76b through 76d,

OR

· Check the box on line 76a and attach Form 8888 if you want to split the direct deposit of your refund into more than one account or use all or part of your refund to buy paper series I savings bonds.

If the taxpayer doesn’t want the refund directly deposited to the account, then IRS will send a check instead.

Line 76c:

Check the appropriate box for the type of account. Do not check more than one box.

Line 76d :

The account number can be up to 17 characters (both numbers and letters). Include hyphens but omit spaces and special symbols.

If any of the following apply, direct deposit request will be rejected and a check will be sent instead: 

You are asking to have a joint refund deposited to an individual account, and your financial institution(s) won't allow this. The IRS isn't responsible if a financial institution rejects a direct deposit. 

The name on your account doesn't match the name on the refund, and your financial institution(s) won't allow a refund to be deposited unless the name on the refund matches the name on the account. 

Three direct deposits of tax refunds have already been made to the same account or prepaid debit card. 

You haven't given a valid account number. 

You file your 2015 return after December 31, 2016.Any numbers or letters on lines 76b through 76d are crossed out or whited out.

Output of Refund appears in page no.2 (Line 76a)

The total taxable income is $ 9026. As federal income tax withheld (i.e. $19498) is more than the taxable income ( $9026 ), the amount is refunded ($10472).

Applied to Your 2016 Estimated Tax    Line77

Enter on line 77 the amount, if any, of the over payment on line 75 you want applied to your 2016 estimated tax. We will apply this amount to your account unless you include a statement requesting us to apply it to your spouse's account. Include your spouse's social security number in the statement.

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