MISDIRECTED TAX REFUND DEPOSITS.

SEC. 1407. MISDIRECTED TAX REFUND DEPOSITS. Section 6402 is amended by adding at the end the following new subsection:“(n) Misdirected Direct Deposit Refund.—Not later than the date which is 6 months after the date of the enactment of the Taxpayer First Act, the Secretary shall prescribe regulations to establish procedures to allow for—“(1) taxpayers to report instances in which a refund made by the Secretary by electronic funds transfer was not transferred to the account of the taxpayer;“(2) coordination with financial institutions for the purpose of—“(A) identifying the accounts to which transfers described in paragraph (1) were made; and“(B) recovery of the amounts so transferred; and“(3) the refund to be delivered to the correct account of the taxpayer.”.