Mandatory Issuance of Tax Refund via Direct Deposit

Mandatory Issuance of Tax Refund via Direct Deposit

What problem does it solve? 1. Identity theft 2. No more lost, stolen or destroyed checks problems that arises when refund checks are mailed 3. The processing and mailing costs associated with paper checks will be eliminated. and 4. Automated processing requires minimal or no human involvement. What is your solution and who does it apply to? Eliminate the option to receive the tax refund via regular mail. The direct deposit of refunds should only be made to accounts in the taxpayer's name, this practice will decrease the potential for fraud and abuse. The time and cost to mail the paper checks will be eliminated completely. Inform the taxpayers and tax return prepares that the direct deposit request will be rejected if their refund is deposited to an account that is not in their name. What is the anticipated impact? The taxpayer's will get their refunds on timely basis and more secured way. Significant savings for State, cost and time spent on processing and mailing of paper checks will be reduced to zero. Most importantly, fraudulent and erroneous refund claims will be prevented to a greater extent.


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