Irs Makes Historic Change to How It Handles Tax Returns

Posted3 months agoActive3 months ago

thelastgallon

2 points

3 comments

masslive.comOtherstory

calmneutral

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IrsTax ReturnsGovernment Policy

Key topics

Irs

Tax Returns

Government Policy

The IRS has made a historic change to how it handles tax returns, sparking discussion among HN users about the implications and potential effects on taxpayers; the low number of comments suggests a wait-and-see approach.

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01Story posted
Oct 17, 2025 at 12:15 PM EDT
3 months ago
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02First comment
Oct 17, 2025 at 12:17 PM EDT
2m after posting
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2 comments in 0-1h
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04Latest activity
Oct 17, 2025 at 1:37 PM EDT
3 months ago
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Discussion (3 comments)

Showing 3 comments

thelastgallonAuthor

3 months ago

1 reply

I assume this is to pave the way for refund money in crypto.

toomuchtodo

3 months ago

The US Treasury was one of the initial members of FedNow (US instant payment rails operated by the Federal Reserve), they can transmit funds instantly to any demand deposit account at a bank that is on FedNow rails. I see no issue with deprecating paper checks for transmitting funds when considering instant payment rails exist. One would assume this requires you put your bank account routing and account number on file with the IRS, either in person at an IRS taxpayer assistance center or through their online account portal.

https://www.irs.gov/newsroom/irs-to-phase-out-paper-tax-refu...

> Most individual taxpayers already receive their refunds by direct deposit into their bank accounts. During the 2025 tax filing season, the IRS issued more than 93.5 million tax refunds to individual income tax filers, and 93% of those, almost 87 million refunds, were issued through direct deposit. Only 7 percent of individual refund recipients received their refunds by check through the mail.

https://www.frbservices.org/financial-services/fednow/organi...

FedNow Is Live - https://news.ycombinator.com/item?id=36801491 - July 2023

beardyw

3 months ago

Catching up with the rest of the world. The UK has been doing this for decades.

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ID: 45618449Type: storyLast synced: 11/17/2025, 10:10:40 AM

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