Code Number
Enter code number 588 on one of the code number lines located to
the right of the telephone number area on your tax return. Attach your
completed Form 588 if you entered code 588 on your tax return. We are
unable to effect direct deposit of your refund to more than one account if
you fail to enter code 588 and attach this form to your tax return.
Lines 1a, 2a, and 3a
Enter the portion of your refund you want directly deposited to each
account. Each deposit must be at least $1. The total of lines 1a, 2a, and
3a must equal the total amount of your refund.
Lines 1b, 2b, and 3b
Enter the routing number on the lines provided. The routing number
must be nine digits. The rst two digits must be 01 through 12 or 21
through 32. Otherwise, the direct deposit will be rejected and a check
will be sent instead. On the sample check on page 2 of this form, the
routing number is 050250025. Chris and Pat Taxpayer would use that
routing number unless their nancial institution instructed them to use a
different routing number for direct deposits.
Ask your nancial institution for the correct routing number to use.
Individual taxpayers have the option to use all or part of their Maryland
income tax refund to purchase U.S. Series I Savings Bonds.
• You must have an established account with TreasuryDirect to which
the designated portion of your refund will be deposited. Please see
www.treasurydirect.gov for information on opening an account.
• Follow the General Instructions for lling out Form 588. The Routing
Number for TreasuryDirect is 051736158. Fill in your TreasuryDirect
account number. REMEMBER, you must have an established
TreasuryDirect account.
• Once your designated refund has been deposited into your
TreasuryDirect account, you may purchase U.S. Series I
Savings Bonds by accessing your TreasuryDirect Account. For
more information, please go to the following webpage: www.
treasurydirect.gov
Lines 1c, 2c, and 3c
Be sure to check only one box for the account type to ensure your deposit
will be accepted. If you are not sure, ask your nancial institution
whether you should check the “Checking” or “Savings” box.
Lines 1d, 2d, and 3d
The account number can be up to 17 characters (both numbers and
letters). Omit spaces, hyphens, and special symbols. Enter the number
from left to right and leave any unused line blank. On the sample check
below, the account number is 00202086. Do not include the check
number.
Line 4
The total on line 4 must equal the total amount of your refund as shown
on your tax return. If the total on line 4 is different, a check will be sent
instead. The total on line 4 must also equal the total of the amounts on
lines 1a, 2a, and 3a.
Changes in Refund Due to Math Errors or Refund Offsets
The rules below explain how your direct deposits may be adjusted.
Math errors. The following rules apply if your refund is increased or
decreased due to a math error.
Refund increased. If you made an error on your return and the amount
of your refund is increased, the additional amount will be deposited to
the last account on line 2 or 3 as applicable.
Example. Your return shows a refund of $300 and you ask that the
refund be split among three accounts with $100 in each account. Due to
an error on the return, your refund is increased to $350. The additional
$50 will be added to the deposit to the account on line 3.
Refund decreased. If you made an error on your return and the
amount of your refund is decreased, the reduced amount will be taken
from the accounts on line 3, 2 and 1, in that order and as applicable.
Example. Your return shows a refund of $300 and you ask that the
refund be split among three accounts with $100 in each account. Due to
an error on your return, your refund is decreased by $150. You will not
receive the $100 you asked us to deposit to the account on line 3 and the
deposit to the account on line 2 will be reduced by $50.
Note. If you appeal the math error and your appeal is upheld, the
resulting refund will be a paper check.
Refund offset. If your refund is used by the Comptroller of Maryland to
pay (offset) past-due federal tax, state tax or certain other debts (such
as other state’s income tax, child support, spousal support, or certain
federal non-tax debts), the offset is taken from the deposits to accounts
on line 3, 2 and 1, in that order and as applicable.
SAMPLE
CHRIS TAXPAYER
PAT TAXPAYER
321 Happy Lane
Town, MD 20000
0004
16-0000/0000
PAY TO THE
ORDER OF
$
DOLLARS
TOWN BANK
Town, MD 20000
For
:050250025 :002020"'86".
0004
Note. The routing and account numbers may be in different places on your check.
Sample Check
Account
number
Routing
number
Do not include
check number
Page 2
2016
Maryland
FOrM
588
direct depOsit OF
Maryland incOMe
tax reFund tO MOre
than One accOunt
COM/RAD 755
