All articles tagged with #direct deposit
Starting September 30, 2025, all Social Security recipients who still receive paper checks must switch to electronic payments, such as direct deposit or Treasury's debit card, to reduce costs and prevent fraud, with instructions available from the SSA.
The SSA will stop issuing paper checks for Social Security benefits starting September 30, 2025, transitioning to digital payments via direct deposit or a prepaid debit card, a move aimed at cost savings with minimal impact on beneficiaries.
Taxpayers who filed their returns on January 29 can expect their refund within 21 days if filed online with no errors and using direct deposit, with a latest arrival date of February 27, 2024. Factors such as errors, incomplete information, or choosing paper check over direct deposit may cause delays. The "Where’s My Refund?" tool on the IRS website or IRS2Go app can provide real-time updates on refund status.
Tax season has begun, and the IRS is processing 2023 returns, aiming for over 146 million individual tax returns by April 15. To expedite refunds, experts recommend filing electronically and opting for direct deposit, while cautioning against common mistakes such as inaccurate information and math errors. Most taxpayers can expect their refund within 21 days, with the option to track its status using the IRS's Where's My Refund tool.
New Mexico residents who filed a 2021 state income tax return and were not declared as a dependent will receive $500 rebate checks for single filers and $1000 rebate checks for couples filing jointly. Direct deposits will be distributed first, and checks will be mailed out over a period of a few weeks. Those who did not file taxes in 2021 have until May 31, 2024, to file a 2021 tax return to qualify for the rebates. Low-income applicants can apply for the rebate on the New Mexico Human Services Department website. Nearly 15,000 rebate checks were returned as undeliverable last year.
New Mexicans who previously filed taxes could get up to $1,000 in rebates as part of a second round of economic relief. Single tax filers will get $500, while married couples are eligible for $1,000. Rebate checks will be automatically sent via direct deposit to those who used it when filing their 2021 tax returns. Low-income New Mexicans who do not file income tax returns can also apply for an economic relief payment on a first-come, first-served basis. More than $15 million is available for this round of payments.
Minnesota lawmakers have agreed to send tax rebates to eligible taxpayers with adjusted gross incomes of up to $75,000 for individuals and $150,000 for couples who filed jointly. The rebates are expected to be $260 for individuals and $520 for couples, with an additional $260 per dependent for up to three dependents. The revenue department will use tax year 2021 individual income tax or property tax refund returns to determine eligibility and distribute the tax rebate payments via direct deposit or checks starting this fall. Taxpayers will not have to apply for this payment, but those who have changed their bank information or address since filing their 2021 return will need to update their information with the revenue department through a secure online portal.
Hundreds of USPS workers fell victim to a direct deposit scheme that left them without pay after cybercriminals lured employees searching for their payroll system with a mirror-image-like website that tricked them into providing their usernames and passwords. The USPS has denied responsibility, but unions representing postal workers have filed a grievance and are considering escalating the complaint to a national arbitrator. Experts say siphoned money is traditionally moved quickly through other financial networks, offshore or into cryptocurrency, which makes it hard for the justice system to follow the trail. Employees should avoid following links in emails or texts to access sensitive sites and employers should implement multifactor authentication and passwordless authentication including biometrics to safeguard direct deposit systems.