PaymentsFirst – Tax Refunds & Exceptions

For tax year 2023, the IRS processed more than 271.5 million tax returns and other forms and issued more than $659 billion in tax refunds. Incorrect handling of incoming tax refunds can make the Receiving Depository Financial Institution (RDFI) liable and create the possibility of large losses.

This webinar covers:

• Rights and requirements of each participant
• Proper handling of deposits for deceased recipients
• Account number and name matching requirements
• Processes for incorrect account numbers
• A review to correctly handle exceptions