Details
 

February 8, 2018
4:00-5:00PM

Tax Refunds: ACH Postings, Exceptions & Financial Institution Liability

Webinar

The IRS issues over 101 million tax refunds on a yearly basis and over 80% of these are via Direct Deposit. The average refund amount is over $3,000. 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. Ensure you handle these exceptions correctly to minimize the liability of your financial institution.

This Webinar covers:

  • The rights and obligations of the financial institution, account holder, and tax preparer
  • What happens when the name and account number do not match?
  • What happens if the account is closed?
  • What happens if the account holder is deceased?
  • What happens if the payments post to the wrong account and who is at fault?
  • What are the rights and obligations of the RDFI, customer, and tax preparer?
  • BONUS: Handouts will include a Quick Reference for Handling Federal Government Tax Refunds According to the Green Book

AAP Credits 1.2

Webinar Cost:
Member Price: $199
Non-Member Price: $398

Click here to Register!


2018-02-08 16:00:00 2018-02-08 17:00:00 America/Detroit Tax Refunds: ACH Postings, Exceptions & Financial Institution Liability The IRS issues over 101 million tax refunds on a yearly basis and over 80% of these are via Direct Deposit. The average refund amount is over $3,000. 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. Ensure you handle these exceptions correctly to minimize the liability of your financial institution. This Webinar covers: The rights and obligations of the financial institution, account holder, and tax preparer What happens when the name and account number do not match? What happens if the account is closed? What happens if the account holder is deceased? What happens if the payments post to the wrong account and who is at fault? What are the rights and obligations of the RDFI, customer, and tax preparer? BONUS: Handouts will include a Quick Reference for Handling Federal Government Tax Refunds According to the Green Book AAP Credits 1.2 Webinar Cost:Member Price: $199Non-Member Price: $398 Click here to Register! ----