Received in the Senate and Read twice and referred to the Committee on Finance.
The bill adds a new subsection to IRC section 6402 allowing taxpayers who are otherwise eligible to receive a replacement paper refund check (for a lost or stolen IRS refund check) to elect to receive that replacement refund by direct deposit instead. The Secretary of the Treasury must issue regulations establishing procedures within six months of enactment.
Liberal emphasizes protections and alternatives for unbanked taxpayers
Very narrow, noncontroversial administrative fix with minimal fiscal impact; typically easy in a chamber to pass.
The bill adds a new subsection to IRC section 6402 allowing taxpayers who are otherwise eligible to receive a replacement paper refund check (for a lost or stolen IRS refund check) to elect to receive that replacement refund by direct deposit instead.
The Secretary of the Treasury must issue regulations establishing procedures within six months of enactment.
The amendment is effective on the date of enactment.
Narrow, low-cost administrative change historically favorable for enactment, but depends on routine committee and floor scheduling in the Senate.
How solid the drafting looks.
Liberal emphasizes protections and alternatives for unbanked taxpayers
These are examples from the analysis, not a ranked list of the most-affected groups.
Liberal emphasizes protections and alternatives for unbanked taxpayers
Generally supportive because the change can reduce theft and speed up refunds for people who can use direct deposit.
Concerned about people without bank accounts, privacy protections, and ensuring the option does not disadvantage unbanked or vulnerable taxpayers.
Wants safeguards and alternatives for those who cannot or will not use direct deposit.
Favorable as a practical, low-cost administrative improvement that reduces fraud and accelerates payments.
Wants clear, workable regulations to prevent identity-theft risks and ensure simple access.
Will weigh regulatory burdens and implementation costs against expected savings and fraud reduction.
Generally supportive because it reduces government check issuance and fraud, and moves refunds to electronic methods preferred by markets.
Insists the program remain voluntary and limits any expansion of IRS authority over taxpayers' bank information.
Wants strong accountability for errors and no hidden costs.
Reached or meaningfully advanced
Reached or meaningfully advanced
Still ahead
Still ahead
Still ahead
Narrow, low-cost administrative change historically favorable for enactment, but depends on routine committee and floor scheduling in the Senate.
The bill has not accumulated any surfaced votes yet.
Liberal emphasizes protections and alternatives for unbanked taxpayers
Narrow, low-cost administrative change historically favorable for enactment, but depends on routine committee and floor scheduling in the S…
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