If you have yet to file your 2017 income tax returns, you should consider a direct deposit of any refunds due. Direct deposit eliminates the risk that a paper check will be stolen or lost. Taxpayers should have refunds deposited to accounts in their own name. Some banks require that refunds to married taxpayers filing jointly be deposited to an account with both spouses’ names. If desired, taxpayers can use IRS Form 8888, Allocation of Refund, to split their federal tax refund among up to three financial accounts. Types of accounts to which refunds can be directed include checking, savings, health, education and certain retirement accounts. Taxpayers can check with their bank for specific direct deposit rules.