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The CP153 notice is sent by the IRS when they are unable to issue a taxpayer’s refund via direct deposit. This typically occurs when the taxpayer’s banking information is incorrect or cannot be verified. The notice informs the taxpayer that the IRS will issue the refund by paper check and mail it to the address on file.
Key details about CP153:
- It explains why the direct deposit failed and outlines steps to update banking information for future refunds.
- The taxpayer does not need to take action unless they wish to correct the banking details for future payments.
- The paper check will be sent within a specified time frame to the taxpayer’s address.
Taxpayers receiving this notice should verify their bank account details for future filings to avoid delays in receiving refunds.