When you hear the word taxes, pleasant images probably don’t come to mind. Today at MyBambu, we want to explain what taxes are, how to manage them, and we’re sure that by the end of this article, you’ll feel more at ease.
If you’re wondering, “Who has to pay taxes?” The answer is: any person, company, or business that has generated income or profit within the United States. It doesn’t matter what your legal status is or whether you have documentation. Regardless of your immigration status, if you’ve worked in the United States, you’ll have to pay taxes. In fact, for your immigration process, having your taxes filed can be beneficial, as it shows you are complying with the law.
You can file your taxes online by yourself, or you can go to different in-person locations where an accountant will assist you with the process. Either option will help you calculate whether you owe money to the IRS (Internal Revenue Service) or if you’re eligible for a refund based on the information you provide.
If you’re expecting a refund, we’d like to tell you that the IRS states that the best way to get your refund is through direct deposit. With this option, your refund payment is sent directly to your account, and you won’t have to wait for a check in the mail.
What are the additional advantages of using direct deposit? Let us explain:
- Speed: It’s the fastest way to receive your refund. The refund payment will be immediately available in your account once received by MyBambu or your financial institution, and you won’t have to wait for a check to arrive in the mail.
- Security: When refunds are issued as paper checks, they can get lost and take longer to arrive in the mail. With direct deposit, your refund goes straight to your account, avoiding potential losses.
- Ease: When requesting your refund via direct deposit, you’ll only need to enter your account number and routing number simple as that.
Now, to request your tax refund via direct deposit, you need to have an account where your money can be deposited. If you don’t have one, you can join MyBambu and create an account in just a few minutes, regardless of your immigration status.
What do you need to receive your refund via direct deposit?
When you have an account, you’ll be assigned an account number and a routing number. These are the details you’ll need. If you have an account with MyBambu, you can easily find this information in the main menu under the Direct Deposit option. You can even email this information directly to yourself from the app.
Do you realize how important it is to have an account in the United States? Being part of the financial system will open many doors, making it easier for you to settle into your new country. Join the MyBambu family and simplify your life while taking better care of your finances. Don’t forget that you can open your account with an official ID from your home country.
See you in the next article!
