The Internal Revenue Service plans to put in place new procedures starting next January to limit the number of refunds electronically deposited into a single financial account or pre-paid debit card to three, as part of an effort to combat fraud and identity theft, including fraud committed by unscrupulous tax preparers.
As part of the new procedures next tax season, the fourth and subsequent refunds automatically will convert to a paper refund check and be mailed to the taxpayer.
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