ETA submitted a statement for the record to the House Ways & Means Subcommittee on Oversight for its Member day hearing on legislation to improve tax administration.
In this statement ETA calls on Congress to work with the IRS to implement electronic payments for federal income tax refunds. Federal income tax refunds are the only significant government payment that is not required to be made electronically. ETA feels it is important that Congress take action to encourage and support consumer choice when it comes to receiving their federal income tax refunds. It is important that American taxpayers be given the choice to receive payments in the manner that best fits their financial lives. Innovative financial products, such as prepaid cards and digital wallets, are particularly important to the approximately 68 million Americans with limited or no access to traditional financial services and products. In our electronically focused economy, ETA asks that Congress take important steps to modernize and make more efficient and secure federal income tax refunds.
Read the full statement here.