Dealing with ACH Tax Refunds: Exceptions, Posting & Liabilities
- Unlimited & shareable access starting
two business days after live stream
- Available on desktop, mobile & tablet devices 24/7
- Take-away toolkit
- Ability to download webinar video
- Presenter's contact info for questions
The federal government is one of the single largest users of the ACH Network.
- Understand your financial institution’s liability for IRS tax refunds
- Properly handle refunds issued to deceased individuals
- Distinguish between state and federal tax refund responsibilities
- Decide which entries to post and which to return
- Use Nacha’s opt-in option for the return of questionable refunds
The IRS issues over 101 million tax refunds annually and over 80% of these are via Direct Deposit. The average refund is over $3,000. Each spring financial institutions are faced with the challenges associated with exception processing related to ACH tax refund payments. This session is designed to ensure efficient processing of ACH tax refunds and, more importantly, protect your financial institution from losses from incorrect payment handling. Topics will include name/account number mismatches, deceased recipients, posting to incorrect accounts, and other exception items.
WHO SHOULD ATTEND?
This session is ideal for ACH operations staff, AAP candidates, audit personnel, and compliance staff.
- Electronic copy of government payments exception handling quick reference cards
- Employee training log
- Interactive quiz
PDF of slides and speaker’s contact info for follow-up questions
- Attendance certificate provided to self-report CE credits