Instead of waiting for an income tax paper refund check to arrive in the mail, the Minnesota Department of Revenue reports taxpayers may choose to have a tax refund deposited directly into their bank account whether they file taxes on paper or electronically.
All taxpayers need to do is select “direct deposit of your refund” when filing their income tax return. The average state income tax refund is $577.
“Choosing direct deposit can shorten the time it takes to receive your refund,” said Terri Steenblock, assistant commissioner for individual taxes in a news release. “And, it’s safe, easy and convenient. We deposit your tax refund directly into your checking or savings account.”
Direct deposit is free for the taxpayer and it saves more than $400,000 each year in printing and mailing costs. Last year, 73 percent of people receiving refunds chose direct deposit.
Those who e-file should select the direct deposit option and enter their bank account number.
Paper filers should put the bank account number on the tax return before filing their taxes. If a tax preparer is utilized, they can do it.
For more information on direct deposit, go to the Department of Revenue’s website or enter keyword “direct deposit” in the search box on our homepage.