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Search Results: keywords:"electronic refunds"

  • H.R. 1155 aims to update the Internal Revenue Code of 1986 to allow people to choose to receive replacement tax refunds electronically instead of by paper check. This change would apply to refunds that need to be reissued due to a lost or stolen original check. The Secretary...

    Simple Explanation

    H.R. 1155 is a plan to let people get their tax refund replacements through bank deposits if their original check gets lost or stolen, making it faster and safer for them.

  • H. R. 1155, also known as the "Recovery of Stolen Checks Act," aims to change the Internal Revenue Code to allow taxpayers to receive certain replacement refunds through direct deposit. This applies to cases where a taxpayer is entitled to a refund but the original refund check was lost or...

    Simple Explanation

    H.R. 1155 is a new rule that lets people get their tax refund sent straight to their bank if their original check was lost or stolen, so they don't have to wait for a new check in the mail. The plan is for the government to set this up in six months, but they want to start right away, which might be tricky since they need to make sure everything works smoothly.

  • H. R. 1155 aims to amend the Internal Revenue Code of 1986 to allow eligible taxpayers to choose to receive replacement refunds via direct deposit. This is specifically for cases where a refund was previously lost or stolen when initially issued as a paper check. The...

    Simple Explanation

    A new idea in Congress wants to let people choose to get their tax money back by direct deposit instead of a paper check if the check was lost or stolen. They hope this can be done safely and that rules will be made to help it work smoothly.