Government to Go Cashless in 1999

The Department of the Treasury will implement a new law that requires all Federal payments, except tax refunds, to be made electronically beginning January 2, 1999. This new initiative, required by the Debt Collection Improvement Act of 1996, was passed by Congress as part of the Omnibus Consolidated Rescissions and Appropriations Act of 1996, and will significantly change the way that millions of Americans who are entitled to government payments obtain their funds. This initiative is known as "EFT 99" and spells trouble for those who owe money to any Government agency.

Leave a comment

Your email address will not be published.