IRS Issues FAQ about EO 14247: Modernizing Payments to and from America's Bank Account

The Internal Revenue Service (IRS) recently issued frequently asked questions (FAQ) in Fact Sheet 2026-02 PDF to help taxpayers, businesses, and other stakeholders understand the changes under Executive Order 14247: Modernizing Payment to and from America’s Bank Account.

“These FAQs support the executive order in its effort to reduce fraud, improve security, lower costs, and make payments to and from the IRS faster and more reliable," said IRS CEO Frank Bisignano.

Background

The U.S. Department of the Treasury, in collaboration with the IRS and other federal agencies, is transitioning federal payments to and from the government to electronic methods pursuant to executive order 14247, signed into law March 25, 2025.

Please select this link to read the IRS' complete press release.