My son and I share the same checking account, can we both get our federal refunds deposited to the same account?

Yes, as long as both of your names are on the account, you can both get your federal refunds deposited to the same account.

Most banks will reject an IRS direct deposit unless the name and SSN of the taxpayer matches the name and SSN of the account holder.  If you have a joint account with both names and both SSNs, the bank will probably accept the refund, but only your bank can tell you for sure.