IRS Drops Paper Checks, Speeds Up Refunds

The IRS is phasing out paper checks, moving to electronic refunds starting this tax year. This change, driven by an executive order, offers faster, safer, and more secure refunds. Electronic payments are typically received in under three weeks, compared to six weeks for paper checks, and are less likely to be lost, stolen, or delayed. The IRS encourages taxpayers to provide bank routing and account numbers for direct deposit. For those without a traditional bank account, opening an account with an FDIC-insured bank or credit union, or using prepaid debit cards, digital wallets, or mobile financial apps, is recommended. This shift aims to streamline the refund process, making it more efficient and secure for all. DNN | The Daily News Now! The world’s first global local news network. Every city. Every story. AI powered. Hosted on Acast. See acast.com/privacy for more information.