A series of executive orders and federal regulatory shifts have a significant impact on the methods individuals and businesses use to move funds, pay taxes and receive refunds from the IRS, and utilize the U.S. Post Office for items with tight deadlines.
“These changes require proactive adaptation,” says Elle Carolan, Director of Client and Advisor Services at Glenmede. “Companies that delay adapting to these may risk avoidable errors, processing delays and compliance failures.”
Smart Business spoke with Carolan about these industry and government changes, and what they mean for companies and clients.
What’s happening with IRS payments and refunds?
The IRS is transitioning away from paper based payments through Executive Order 14247, reshaping how businesses and individual taxpayers must manage payments, refunds and tax filings. Although the IRS is still temporarily accepting checks, the agency has formally signaled its shift toward mandatory electronic payments and refunds.
Individual taxpayers will no longer be able to pay quarterly estimates, nor receive refunds via paper checks. The IRS has also telegraphed that all refunds must be deposited into a bank account with the same account title and EIN or taxpayer ID associated. This may pose challenges for taxpayers or businesses with multiple business entities, LLCs and affiliates.
Businesses must prepare by finding ways to reduce their reliance on check-based payments, work with banking partners to establish electronic workflows, and to consider enrolling in the IRS’s Electronic Federal Tax Payment System to both make payments and receive refunds.
Companies that proactively build electronic capabilities now will likely experience far fewer operational interruptions later. Those that wait risk delayed postings, rejected payments, and client service issues.
What changes at the U.S. Post Office affect businesses?
As of December 2025, postmarks on parcels mailed through a local branch of the U.S. Post Office are now applied at regional processing centers rather than at the location where mail is dropped. Under the new system, the postmark could be several days later, which can jeopardize tax deductibility, compliance deadlines and filing validations.
To mitigate this, businesses should convert time-sensitive processes to electronic delivery wherever possible. When physical mail is unavoidable, they should request a manual postmark, obtain a posted validation imprint, or use certified mail or certificate of mailing to document the actual drop-off date.
What’s changed with wire transfer payments?
A new global standard for electronic wire transfers between financial institutions called ISO 20022 fundamentally changes what data must accompany a wire transfer. Effective in November 2025, the most notable change is the mandatory inclusion of the payee’s physical address — P.O. Boxes no longer meet the standard. That level of specificity supports better fraud prevention, automated reconciliation, and long-term data modernization, but it also raises the bar for accuracy.
If a company’s remittance data is incomplete or incorrectly formatted, the wire may be rejected or delayed. To prepare, organizations should review their wire templates, update vendor master data, and verify that internal systems are meeting the expanded format. This operational lift requires cross team coordination.
What separates organizations that adapt quickly?
Businesses that invest early in updated processes, accurate data and electronic solutions will likely see smoother operations and stronger compliance. This approach helps individuals and businesses experience these shifts not as administrative burdens, but as opportunities to improve security, transparency and efficiency in their financial lives. ●
This article presents general information and is not intended to be financial, investment, tax, legal or other advice. It contains information and opinions which may change after publication. Views expressed herein do not necessarily reflect the views of the author’s employer. No outcome, including performance or tax consequences, is guaranteed, due to various risks and uncertainties. Readers should consult with their own financial, tax, legal or other advisors to seek advice on their individual circumstances.
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