Treasury and IRS propose rule on misdirected refunds

The IRS has published [84 FR 70462] proposed regulations concerning the procedures for identification and recovery of a misdirected direct deposit refund. The regulations reflect changes to the law made by the Taxpayer First Act. The proposed regulations affect taxpayers who have made a claim for refund, requested the refund be issued as a direct deposit, but did not receive a refund in the account designated on the claim for refund. Comments and requests for a public hearing must be received by February 21, 2020.