The Treasury Department is launching a pilot program to deliver tax refunds via prepaid debit cards rather than checks.
The plan aims to cut down on the administrative costs associated with checks and to help lower-income taxpayers without bank accou…
The Internal Revenue Service is looking for about 112,000 people who are due a combined total of $164.6 million in tax refunds. The tax agency said the average refund check was about 28% larger than it was a year ago.
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Ambac Financial Group, which Monday declared bankruptcy, is suing the U.S. for attempting to seize $700 million in tax refunds. The bond insurer warns that seizing the refunds could ruin its chances of reorganizing.
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