The Internal Revenue Service recently announced that the process of sending paper refund checks for individual taxpayers will be phased out beginning September 30, 2025. This change is part of a broader transition to electronic payment requirement and is required by Executive Order 14247.
This is not a huge surprise as technology continues to advance, it seems at times out of control. We have already seen a push for returns to transition from paper filings to electronic filings and in some cases mandatory electronic filing requirements. The majority of the returns (over 95%) we file here at HNG are already electronically filed and over 70% of those choosing electronic refunds. The bottom line is this train is not going to stop and ultimately ends up at an all electronic filing, refund and payment station. Those who have resisted will need to make changes to be able to have their refunds/payments processed by the IRS.
While some have certainly rejected this, we believe there are several positive aspects of this rule for most all of us as listed below:
Some potential frustrations and potential downfalls to watch for include the following:
Further guidance will be provided by the IRS for 2025 tax returns before the 2026 tax filing season begins. Until further notice, taxpayers should continue using existing tax forms and procedures in filing their extended 2024 tax returns.
At Hirth, Norris & Garrison, we are committed to being a trusted partner in your financial and tax journey. Whether you are aiming to protect your personal finances, business information or enhance your personal tax filing process, HNG is here to guide you and answer questions as they arise. Don’t hesitate to contact us to learn more!