Issuing a paper check costs about 50 cents, according to the Treasury Department. The cost drops down to less than 15 cents per electronic transfer. Tax law experts note that those who could struggle ...

As part of a sweeping modernization effort, the U.S. government will halt the use of paper checks for all federal payments, including IRS refunds (Tax Refunds), by September 30, 2025. This directive ...

A recent executive order directs the federal government to stop issuing paper checks in favor of direct deposit, prepaid cards, or other digital payment options. The sentiment isn’t new: IRS and other ...

The IRS announced Tuesday that it will start phasing out paper checks for tax refunds in one week under a March executive order to move the federal government away from physical payments. The federal ...

The Federal Reserve is considering a major shift in its payment processing strategy by potentially ending the processing of paper checks. This move comes as part of a broader trend towards digital ...