The Taxpayer Advocate Service has published an article titled “TAS Tax Tip: Got a Direct Deposit from the IRS, But Not Sure What it is For?,” which provides information regarding unknown direct deposits from the IRS. The article begins as follows:
Did you get a payment by direct deposit into your account, but not sure what it is for? No problem, here’s some information that will help you figure that out.
It could be:
A refund from a filed tax return, including an amended tax return or an IRS tax adjustment to your tax account – this will show as being from the IRS (“IRS TREAS 310”) and carry the code “TAX REF.”
An Economic Impact Payment (known as EIP or stimulus payment) – this will show as “IRS TREAS 310” and have a code of “TAXEIP3”.
An advance payment of the Child Tax Credit – this will show as being from the IRS and will show as “IRS TREAS 310” with a description of “CHILDCTC”.
To view the full article, click: TAS Tax Tip: Got a Direct Deposit from the IRS, But Not Sure What it is For?
Posted by Josh Saret, Associate Editor, Wealth Strategies Journal.