The Internal Revenue Service is no longer issuing paper tax refunds after this month, according to a news release published by the department last week.

The change will take effect on Sept. 30, which is the same day that the Social Security Administration begins phasing out paper checks in favor of electronic benefit payments.

Here’s everything you need to know about the change.

Why is the change happening?

The IRS said it is phasing out paper checks to defend against financial fraud and improper payments, increase efficiency, reduce costs and enhance the security of federal payments.

“Paper checks are over 16 times more likely to be lost, stolen, altered, or delayed than electronic payments,” the agency said. “Direct deposit also avoids the possibility that a refund check could

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