Your tax refund will no longer arrive by paper check. Recently, the IRS announced that it will stop issuing refund checks, with limited exceptions, and will require taxpayers to receive electronic refunds.
Why the Change to Electronic Refunds?
First, paper checks cost more, create security risks, and take much longer to process. In addition, the Trump administration directed all federal agencies to eliminate paper check payments.
What Stays the Same?
The IRS has not changed the process for filing your tax return. You will continue to file exactly as you do now.
How to Receive Your Electronic Refund
The fastest and most reliable way to receive your refund is through direct deposit into your bank account. Ninety-three percent of taxpayers already use direct deposit, and this change will not affect them.
If you currently receive refund checks, switch to direct deposit when you file your 2025 return to receive your refund electronically. Simply enter your bank’s routing and account numbers on your tax form.
Alternatively, if you prefer not to use direct deposit, you can choose certain mobile apps or prepaid debit cards that provide a routing and account number.
Can I Still Get a Paper Check?
The IRS will still issue a paper check if you request a waiver because you lack access to banking services or electronic payment systems. Keep in mind that paper checks take at least six weeks to process, while electronic refunds typically take about 21 days.
If You Need a Bank Account
You can open an account online through several resources:
- The FDIC’s GetBanked website
- The National Credit Union Administration’s Credit Union Locator
- The Veterans Benefits Banking Program (for veterans only)
Paying Taxes
For now, the IRS will still accept tax payments by check. However, electronic payments remain the faster and more reliable option. To review all electronic payment methods, visit the IRS Make a payment web page.
How We Can Help
Sterling Tax and Accounting is here to help your business with tax planning! Our comprehensive approach to tax planning helps reduce your overall tax liability and keep more money in your pocket. If all your accountant does is file your taxes, chances are they are making you pay more than your fair share of taxes.
Learn how to proactively save on taxes by scheduling a call with our tax planning specialists.
Our tax planning, accounting & business services help you stay on track. Sterling Tax & Accounting will work with you to optimize your business and minimize your taxes. We will work to provide you and your business with the tools and resources you need to build a solid tax and business foundation. We’re a trusted CPA Firm in Sarasota, Florida. We serve clients all over the US, and proactively work to minimize their taxes.
Welcome to the Sterling Standard of business! Want to learn more? Schedule a meeting with our tax planning team here: https://www.sterling.cpa/contact-us/