IRS News Release: FAQs Clarifying Executive Order on Modernizing Payments To and From America’s Bank Accounts

The IRS has issued frequently asked questions (FAQs) to help taxpayers, businesses, and other stakeholders understand the changes under Executive Order 14247 titled “Modernizing Payment To and From America’s Bank Account”. The executive order, signed March 25, 2025, transitions federal payments to and from the government to electronic methods. While the order does not change how taxpayers file their returns, it affects how refunds are issued and payments are made beginning with the 2026 filing season. [IR-2026-13, Fact Sheet 2026-02 (Jan. 27, 2026)]

This story was produced by Bloomberg Tax Automation, and edited by Bloomberg Tax staff.