Working on your taxes yet? Direct deposit

I started working on my taxes this weekend. (Along with taxes for by brother and a few friends.) When you're taxes are completed and you've check, double checked and checked one more time before you file them, you'll have one of two outcomes.

1. You owe the IRS
2. You are getting a refund

First, if you owe, don't panic, Start saving now and don't file your taxes until April 15. This will give you about 2 1/2 months to save for what you owe. (Use this same principal if you owe your state and or city) Even if you can't pay 100% of what you owe, please file your return. This will keep you for going to jail.

If your getting a refund, did you know you can have your refund direct deposited into as many as 3 different accounts? I think this is way cool. You could have a few buck deposited into your checking account, a few more into your savings account and even some into your IRA. All you have to do is include form 8888 as part of your tax return and the IRS will do the rest.

By the way, how big is your refund? I blog about why a large refund is a bad idea later on. Stay tuned.