Dealing with ACH Tax Refunds: Exceptions, Posting & Liabilities 2022 | Financial Education & Development Inc. | 19 January 2022 | Webinar
Venue
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| Event Date | Wed Jan 19 EST (almost 3 years ago) |
| Location | Webinar |
| Region | Americas |
Details
The federal government is one of the single largest users of the ACH Network. Proper handling of ACH tax refunds and exceptions is crucial to reducing losses, increasing compliance, and keeping accountholders happy. Now is the time to prepare!
After This Webinar You’ll Be Able to:
• 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.
Speakers
2022 Speaker
PRESENTER:
Michele Barlow
Senior Vice President, Macha/PAR