Va. Eliminates Paper Tax Refund Checks
Posted: January 19, 2013
HARRISONBURG — Beginning this tax season, Virginia residents won’t be able to receive a paper refund check.
Those receiving refunds for their state taxes must choose between direct deposit or, for the first time, a prepaid debit card.
“Most individuals prefer to have their refunds deposited directly into their bank accounts because it’s the easiest, fastest way to get your money,” said Craig Burns, the state’s tax commissioner, in a statement. “For those that don’t use direct deposit, debit cards are a secure alternative that provide cost savings for the commonwealth.”
Last year, the state issued 1.2 million refund checks.
The state will save about $200,000 in printing and mailing costs per year by switching to the new method, according to the Tax Commissioner’s Office.
For those who file jointly, the state will issue two debit cards that draw from a single joint refund account.
Once a resident receives a refund card in the mail, it must be activated by phone or online.
While the state has opted to eliminate paper checks, those receiving federal tax refunds can still choose to receive one.
Federal refunds also can be direct deposited into a checking or savings account or used to buy up to $5,000 in U.S. savings bonds.
Contact Pete DeLea at 574-6278 or pdelea@dnronline.com
Those receiving refunds for their state taxes must choose between direct deposit or, for the first time, a prepaid debit card.
“Most individuals prefer to have their refunds deposited directly into their bank accounts because it’s the easiest, fastest way to get your money,” said Craig Burns, the state’s tax commissioner, in a statement. “For those that don’t use direct deposit, debit cards are a secure alternative that provide cost savings for the commonwealth.”
Last year, the state issued 1.2 million refund checks.
The state will save about $200,000 in printing and mailing costs per year by switching to the new method, according to the Tax Commissioner’s Office.
For those who file jointly, the state will issue two debit cards that draw from a single joint refund account.
Once a resident receives a refund card in the mail, it must be activated by phone or online.
While the state has opted to eliminate paper checks, those receiving federal tax refunds can still choose to receive one.
Federal refunds also can be direct deposited into a checking or savings account or used to buy up to $5,000 in U.S. savings bonds.
Contact Pete DeLea at 574-6278 or pdelea@dnronline.com