How old does a song have to be to call it “old school?” 🤔🎶 We’re gonna go with anything at least 20 years old. That’s right, anything from the 80s and older. Before you tell us the math ain’t mathin’, this article was written by a millennial approaching 40. #foreveryoung 🥳
Speaking of kickin’ it old school, if you’re still getting paper checks from the government, listen up. 👂 By September, you’ll need to go digital.
Here’s Five Fast Facts on the government’s paper checks:
- 📬 Your Order’s Ready - As part of his mission to clean up all nooks and crannies of the US government, Trump’s now setting his sights on paper checks. According to a new executive order, all government departments and agencies have until September 30th to transition to electronic payments.
- 📄 Stackin’ Paper - Which departments are impacted? Basically, any that’s responsible for issuing government funds. That includes tax refunds from the IRS, Social Security benefits, and other federal disbursements (like those sweet stimmies). Additionally, all payments made *to* the government will also need to go digital.
- 🦹 Scam Sandwich - A major reason for Trump’s decision to peace out paper checks? Mail theft and check fraud is on the rise. According to the Financial Crimes Enforcement Network (FinCEN), over $688 million in check fraud from stolen mail was reported between February and August 2023. Between 2021 and 2023, check-related fraud incidents doubled.
- 📩 Check Yourself - Right now, an estimated 456,000 Americans still get monthly paper Social Security checks. The switch means these folks will need to hop online and register for electronic transfers. Critics say this will hurt seniors and people without internet access the most.
- ☎️ Before You Wreck Yourself - If you absolutely cannot switch to digital payments, the government will allow for hardship exemptions in some cases. Thanks to recent job cuts and the closure of federal offices like the Social Security Administration, it may be a pain to find assistance. Head to this NYT article for more deets!
🔥Bottom line: Us old heads tend to be set in our ways. Parting with paper checks is such sweet sorrow, but look on the bright side! Your dining room table mail pile just got a lot smaller. Do you know what the word “stagflation” means? Spoiler alert: it has nothing to do with the buck that hit your Chevy last week. Head here to learn more!
Will this new paperless rule impact you?
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