Jim Petro announced today that those individuals who file their state taxes electronically can receive an electronic refund deposited directly into a checking or savings account. Ohio saves an estimated 40 cents for each paper check converted to direct deposit. The Auditor's office has responsibility for issuing payments owed by the state. It gives people more control over the system and gives us an opportunity to enhance our service to the public.
Direct deposit can make refunds available within seven days.
In comparison, Ohioans who choose to have a refund check mailed to them could wait two weeks if they filed by telephone or electronically, and up to two months if they file a paper return. Only California has more paperless tax filers. The E-File option is available to all Ohio residents, while the TeleFile program this year has been expanded to allow more taxpayers to phone in their income tax returns.