> Without knowing the type, nobody can tell the I.R.S. later on what taxes to collect, if any, or tell the participant what he or she may owe. And guess what. W

> Without knowing the type, nobody can tell the I.R.S. later on what taxes to collect, if any, or tell the participant what he or she may owe. And guess what. With paper checks, you can just put words on them that help explain or signal what kind of account the money came from and where it’s supposed to end up. Oh the irony.