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September 28.2025

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The End of Paper Checks: What Seniors Need To Know About IRS Changes

DeLorean DMC-12 with gull-wing doors in a museum exhibition.

Are Paper Checks Becoming a Thing of the Past?

The Internal Revenue Service (IRS) has made headlines recently with its announcement to phase out paper tax refund checks starting September 30, 2025. This shift sparks an important conversation about electronic payments, which are seen as a more efficient, secure, and environmentally friendly means of handling transactions. Initially, responses to this change have ranged from support to skepticism, highlighting a generational divide regarding the use of checks.

The Challenge for the Unbanked

While the move towards electronic payments promises convenience, we must consider those who may face challenges adapting to this modern practice. Individuals without access to bank accounts, especially seniors living on fixed incomes, might find themselves at a significant disadvantage. According to some experts, 7.1 million households in the U.S. are unbanked, lacking access to traditional banking solutions and the security offered by electronic payments.

When Employers Cut 401(k) Matches

Your retirement plan is as crucial as your immediate finances. Recently, Sherwin-Williams announced it would suspend its employer match on 401(k) contributions. Such decisions can severely impact workers’ futures, especially those just beginning to save for retirement. Employees relying on a 401(k) match might see this as a major setback when trying to build their financial future.

Consider the Current Economic Climate

Various factors, including rising inflation rates and increasing living costs, contribute to uncertainties in retirement planning. Individuals facing unpredictable economic challenges may feel anxious about their financial security, leading to critical decisions about when to apply for Social Security benefits. Understanding your options is vital in making informed choices that can have long-term effects.

Act Now: Preparing for Your Future

With these transitions unfolding, it's essential for seniors and their families to understand how to apply for Social Security benefits in Muskegon. From gathering necessary documents to understanding eligibility requirements, proactive steps can pave the way for a smoother retirement process. Whether you're considering applying online or need assistance from local offices, being informed can make a significant difference in achieving financial security.

Retirement and Financial Security

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The End of Paper Checks: What Seniors Need To Know About IRS Changes

Are Paper Checks Becoming a Thing of the Past?

The Challenge for the Unbanked

When Employers Cut 401(k) Matches

Consider the Current Economic Climate

Act Now: Preparing for Your Future

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