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Education

 

Webinar: Tax Refunds: ACH Posting, Exceptions & Liability

 

Wednesday, February 5, 2014

2:00 - 3:30 pm CST

 

Speaker: Luann S. Kohlmann, AAP, NCP, WACHA

 

About the Program

In 2013, the IRS issued over 101 million tax refunds – 79% of these were via Direct Deposit. The average refund amount was $2,860. With such a high volume, it is imperative that your financial institution handle tax refunds with the utmost care and caution to avoid large dollar losses that can be caused by not understanding the unique requirements of IRS tax refunds. These requirements address account number/name matching situations, deceased recipients, refunds posting to incorrect accounts, and refunds as exception items. This session will cover the rights and obligations of the financial institution, accountholder, and tax preparer. Attending will ensure you handle these exceptions correctly and minimize liability.

 

HIGHLIGHTS

  • What if the name and account number do not match?
  • What if the account is closed?
  • What happens if the accountholder is deceased?
  • Who is at fault if the payment posts to the wrong account?
  • What are the rights and obligations of the RDFI, member, and tax preparer?


Related Files
Printable Brochure (Adobe PDF File)

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