If you recently received an IRS notice saying your refund could not be direct deposited, you are not alone. Many taxpayers this year are receiving IRS Notice CP53E and immediately assuming there is a serious problem with their tax return or refund. In most cases, that is not what the notice means. The confusion largely comes from the IRS transition away from paper checks and toward electronic payments and direct deposits. What Is IRS Notice CP53E? The IRS introduced the CP53E notice as part...

T he IRS is modernizing how payments work. While your tax filing process isn’t changing, how you pay taxes and receive refunds is steadily shifting to digital. Here’s what that means for your business. Paper Checks Are Being Phased Out The IRS is moving away from mailed checks and money orders. While they’re still accepted today, they’re slower, less secure, and more costly to process so expect them to become less common over time. This Impacts Payments in Both Directions These changes apply...

Tax season is coming! Yikes, I know that sentence scares everyone. It's not like a cute seasonal latte but more like a freight train with paperwork. Every year a surprisingly amount of people decide to play hide and seek with their tax documents until April, which if you ask me is pretty bold . This quick guide helps show you how to come prepared, save time (and money), and avoid the classic last minute chaos. Step 1: Gather the Right Documents Early The single biggest reason tax season feels...