New Tax Info for 2025 and 2025
Paper Checks Discontinued!
Electronic Federal Benefit Payments Required By Sept. 30
The Social Security Administration (SSA) released an update stating that, beginning Sept. 30, federal benefit payments will primarily be issued electronically under Executive Order 14247, which phases out most paper checks. Beneficiaries who still receive checks are encouraged to sw
Electronic Federal Benefit Payments Required By Sept. 30
The Social Security Administration (SSA) released an update stating that, beginning Sept. 30, federal benefit payments will primarily be issued electronically under Executive Order 14247, which phases out most paper checks. Beneficiaries who still receive checks are encouraged to switch to electronic payments before the deadline to avoid disruptions. The U.S. Treasury will allow exemptions only by waiver, which can be requested by calling 1-800-967-5042.
Electronic payments provide faster access to funds, added security and greater convenience.
Beneficiaries have two options: direct deposit into a checking or savings account, which can be managed through a my Social Security online account, or the Direct Express prepaid debit card, for those without a bank account. Tax professionals should share this update with clients and encourage new claimants to set up accounts for direct deposit.