IRS Phases Out Paper Refund Checks for Individuals

There has been much speculation and misinformation related to the IRS’ phasing out of paper checks. “Modernizing Payments To and From America’s Bank Account” (Executive Order 14247) will change the way many taxpayers send payments to and receive refunds from the IRS. The order eliminates paper checks and money orders coming into and out of the United States General Fund. The goal is to help eliminate unnecessary costs; delays; and risks of fraud, lost payments, theft and inefficiencies. Below provides clarity around the execution and timeline known at this time for individuals.

• The IRS will no longer send paper refund checks to individuals beginning September 30, 2025. Individuals will need to have their federal tax refunds directly deposited into a bank account after that date.
• Payments to the IRS by paper check will continue to be accepted until further notice.
• The IRS will issue additional guidance on how individuals will make electronic payments when filing their 2025 taxes.

Once the IRS provides its guidance, we will issue additional information on how to make electronic payments to the IRS, such as creating an online account or making a direct payment to the IRS via a bank account.

Contact Laura White or a member of your service team to discuss this topic further.

In this blog Cohen & Co is not rendering legal, accounting, investment, tax or other professional advice. Rather, the information contained in this blog is for general informational purposes only. Any decisions or actions based on the general information contained in this blog should be made or taken only after a detailed review of the specific facts, circumstances and current law with your professional advisers.