Recovery of Stolen Checks Act
Recovery of Stolen Checks Act
Plain Language Summary
# Recovery of Stolen Checks Act (HR 1155) Summary **What the bill does:** This bill requires the U.S. Treasury Department to give taxpayers a new option when their federal tax refund check gets lost or stolen.
Instead of automatically receiving a replacement check by mail, eligible taxpayers could choose to have their replacement refund deposited directly into their bank account instead. Currently, the Treasury only offers replacement checks through the mail. **Who it affects:** Taxpayers whose federal income tax refund checks are lost or stolen in the mail would benefit from this bill, as it provides a faster and potentially more secure alternative to waiting for a replacement paper check to arrive. **Status:** The bill passed the House of Representatives and is now awaiting consideration in the Senate.
CRS Official Summary
Recovery of Stolen Checks ActThis bill requires the Department of the Treasury to establish procedures that allow an eligible taxpayer to elect to receive by direct deposit a replacement of a federal tax refund amount that was originally issued as a paper check and was lost or stolen. (Currently, taxpayers eligible to receive a replacement of a lost or stolen federal tax refund check are generally issued another paper check.)
Latest Action
Received in the Senate and Read twice and referred to the Committee on Finance.