PYMNTS

AUGUST 18, 2020

Department of the Treasury and the IRS are planning to send out interest payments totaling $18 on average to 13.9 million Americans who filed their tax returns in the last few months, according to a press release. Interest is paid at the legally prescribed rate, adjusted quarterly, according to the release.

IRS 120

IRS Checks Direct Deposit Tax Refunds 120

PYMNTS

JUNE 29, 2020

The number of tax audits on corporations plunged amid the pandemic, with the IRS saying in the National Taxpayer Advocate’s “Objectives Report to Congress” report for Fiscal Year 2021 that it began 716 corporate examinations from April 1 to June 1 this year compared to 2,445 during the same time last year, a 71 percent drop.

Audit 69

Audit IRS Tax Refunds Returns 69

PYMNTS

JANUARY 27, 2020

Treasury and revenue departments in multiple U.S. More states are starting to use recurring digital payments as the means by which tax refunds and other government monies are paid out. Armed with knowledge of superior capabilities, more government agencies are retiring paper, digitizing payments and seeing the benefits.

Faster Payments 52

Faster Payments Governance Government Tax Refunds 52

PYMNTS

MARCH 10, 2017

Earlier this year, the Treasury Inspector General for Tax Administration reported that there was a reduction in the number of fraudulent tax returns identified between 2013 and 2015.

IRS 57

IRS Phishing Tax Refunds Returns 57

PYMNTS

MARCH 17, 2020

But come coronavirus or the Martian measles, taxes will be filed, and refunds issued. In time-honored tradition, tax accountants will prepare forms and the U.S. Treasury will issue payments to millions of Americans via paper check, delivered in an envelope by the United States Postal Service (USPS). Amazing development.

IRS 52

IRS Tax Refunds Direct Deposit Faster Payments 52

PYMNTS

DECEMBER 28, 2020

Congress, the Department of the Treasury and the Federal Reserve now have to confront the ghosts of stimulus disbursements past, in which tens of millions of people needed to wait for payments to arrive via snail mail. “In Edwards noted that over 50 million government checks are still issued each year.

Checks 83

Checks Tax Refunds Federal Reserve Governance 83