Frequently asked questions are now available to help businesses and individual taxpayers understand the changes under Executive Order 14247: Modernizing Payment to and from America’s bank account. The way taxpayers file their federal tax returns is not changing.

These changes apply to payments:

• Sent by federal government: tax refunds, benefits, grants, and vendor or contractor payments
• Made to federal government: tax balances due, fees, penalties, and other payments from individuals, businesses, nonprofit organizations and state or local partners

Business and individual taxpayers are encouraged to:

• Use direct deposit for refunds by providing accurate bank or prepaid debit card information when filing
• Choose electronic payment options when paying taxes, such as IRS Direct Pay, Electronic Federal Tax Payment System, or other approved methods
• Review account information to ensure bank details are current and correct
• Visit IRS.gov to learn about electronic payment options and available resources for taxpayers without a bank account

See the news release for more information.