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Once a tax return is filed and accepted you cannot change the direct deposit information on the tax return. Since the account is closed the bank will reject the direct deposit and return the federal tax refund to the IRS. The IRS will mail a refund check to the address entered on the tax return.
If you were using refund processing to have your TurboTax fees paid from your federal refund, and you close your bank account now, you are in for a very long and frustrating wait. If your bank has to refuse the direct deposit and send it back to the third party bank it may be many months before it is sorted out and you receive a check. If the deposit goes right back to the IRS from your bank, you will wait a few extra weeks for the IRS to mail you check.
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