Reminder for Taxpayers
The IRS has released new guidance and FAQs related to Executive Order 14247, which focuses on modernizing how payments are made to and from America’s bank accounts. While the executive order itself is broad, the IRS guidance helps clarify what this means for taxpayers, businesses, and anyone receiving refunds or making payments to the IRS.
At its core, this update is about how payments are made—not how much you owe or how you file.
What Taxpayers Should Do Now
No immediate action is required for most taxpayers, but this is a good time to review how you receive refunds and make payments. The IRS is continuing to move away from paper checks and toward electronic options, which are faster and more secure.
We recommend the following:
- Confirm your direct deposit information is accurate and up to date
- Consider using IRS Direct Pay, EFTPS, or other approved electronic payment options rather than mailing checks
- Expect fewer paper-based options over time as electronic payments become the default
- Be cautious of scams—IRS payment changes often trigger fraudulent emails, texts, or calls claiming to be “official updates”
If you currently rely on paper checks, you may want to plan ahead as electronic methods continue to expand.
What’s Changing—and What Isn’t
The IRS guidance reinforces an ongoing shift toward electronic transactions, including:
- Increased use of direct deposit for refunds
- Greater reliance on electronic payment systems for tax payments
- Reduced use of mailed checks
This update does not:
- Change tax rates
- Create a new tax
- Alter filing deadlines or payment obligations
It strictly addresses payment delivery and processing methods.
What This Means for Barklee Clients
For Barklee clients, this guidance aligns with best practices we already encourage. Electronic payments and refunds are typically faster, more reliable, and easier to track. As the IRS continues modernizing its systems, we’ll help ensure your payment and refund methods are set up correctly and remain compliant.
The IRS has published a detailed FAQ and fact sheet explaining these updates in more depth.
Click Here to download the IRS Fact Sheet and FAQs
Click Here to review the IRS instructions for online payments.
