Executive Order 14247, titled Modernizing Payments To and From America’s Bank Account, supports the federal government’s continued transition to faster, more secure electronic payment systems. While the order does not change tax laws or filing requirements, it reinforces how payments and refunds are processed by federal agencies.

The Internal Revenue Service has issued a helpful Questions and Answers page that explains how this Executive Order applies specifically to IRS payments and refunds. The guidance helps taxpayers understand what’s changing, what isn’t changing, and how to prepare for the new requirements. The benefits of electronic payment options are highlighted, as these methods can reduce processing delays and improve security.

The IRS Q&A resource is available here: https://www.irs.gov/newsroom/questions-and-answers-about-executive-order-14247-modernizing-payments-to-and-from-americas-bank-account

If you have questions about these Q&A’s or how Executive Order 14247 may affect your situation, Kemper CPA Group is available to provide guidance and support.