According to the U.S. Treasury Dept., 98% of taxpayers receive their IRS refunds electronically. In 2026, direct deposit refunds increased by 14% over 2025, likely due to the IRS’s paperless initiative. Yet not all taxpayers can receive electronic refunds. The Federal Deposit Insurance Corporation has reported that 4% of U.S. households lack a bank account. Those who request paper checks include the elderly, members of certain religious groups and domestic violence victims. Some taxpayers reportedly wait more than 10 weeks to receive checks. Recently, Treasury Secretary Scott Bessent answered lawmakers’ questions about the issue in a U.S. House Ways and Means Committee hearing.
