12:00 pm – 1:30 pm PT
1:00 pm – 2:30 pm MT
2:00 pm – 3:30 pm CT
3:00 pm – 4:30 pm ET
Properly handling ACH tax refunds and exceptions is crucial to reducing losses and keeping accountholders happy.
AFTER THIS WEBINAR YOU’LL BE ABLE TO:
- Know what to do if the account is closed
- Correctly process refunds when the accountholder is deceased
- Handle payments posted to the wrong account and identify who is at fault
- Determine the rights and obligations of the RDFI, accountholder, and tax preparer
- Understand what the IRS is doing to protect taxpayers from fraud
The federal government is one of the largest single users of the ACH network, but did you know that they don’t follow the same NACHA Operating Rules as a typical Originator? IRS tax refunds must be handled with care. The average IRS tax refund is almost $3,000 and every financial institution receives them. With such high volume, it is imperative that financial institutions understand the requirements surrounding tax refunds to avoid potentially large losses. These requirements address account number/name matching situations, deceased recipients, refunds posting to incorrect accounts, and refunds as exception items. This session will cover the rights and obligations of the financial institution, accountholder, and tax preparer and how the IRS is protecting accountholders from fraud. Learn how to correctly handle tax returns and exceptions to increase compliance and accountholder satisfaction while minimizing liability.
This course is eligible for 1.8 AAP credits.
Attendance certificate provided to self-report CE credits.
WHO SHOULD ATTEND?
This informative session is ideal for ACH operations, branch personnel, compliance officers, and AAP candidates.
- Quick reference for handling federal tax refunds according to the Green Book
- Employee training log
- Interactive quiz
DON'T MISS THESE RELATED WEBINARS!
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NOTE: All materials are subject to copyright. Transmission, retransmission, or republishing of any webinar to other institutions or those not employed by your financial institution is prohibited. Print materials may be copied for eligible participants only.