“By moving to all-electronic payments, Treasury will save hundreds of millions of dollars and substantially reduce our environmental impact, making this a win-win for all Americans,” he added.
The department is requiring that people receive Social Security, Veterans and certain other benefits electronically – either through direct deposit or Treasury’s Direct Express card.
The requirement will apply to new enrollees beginning next March and existing recipients beginning in March of 2013.
Elsewhere, Treasury is requiring increased electronic payment of businesses taxes, and eliminating the option to purchase paper savings bonds through payroll deductions.
Cross-posted from E2-Wire.