Bill > S2449

This bill amends the Internal Revenue Code of 1986 to provide taxpayers with an option to receive replacement tax refund checks electronically through direct deposit instead of traditional paper checks. Currently, when a taxpayer's original tax refund check is lost or stolen, they typically receive a replacement paper check. This legislation requires the Internal Revenue Service (IRS) to establish regulations within six months of the bill's enactment that will allow taxpayers to choose direct deposit as an alternative method for receiving these replacement refunds. By providing an electronic option, the bill aims to make the process of recovering lost or stolen tax refund checks more convenient and potentially faster for taxpayers. The new provision would apply to replacement refunds for overpayments of taxes that would have originally been sent as paper checks, giving taxpayers more flexibility in how they receive their funds. The bill, referred to as the "Recovery of Stolen Checks Act," would take effect on the date of its enactment.

Budget and Finance

https://www.congress.gov/bill/119th-congress/senate-bill/2449/all-info