It’s Tax Refund Season!

When it comes to filing your taxes this year, starting early can pay off. The federal government is reporting that taxes may take longer to process this year. As a result, your refunds might not arrive as quickly as they may have in the past. This includes when a return:

    • Includes errors, is incomplete or needs further review
    • Includes a claim filed for an Earned Income Tax Credit or an Additional Child Tax Credit
    • Is impacted by identity theft or fraud*

If you are expecting money to come your way, here are a few important things you should know about tax refunds and your account:

    • When filing your taxes, your member number should be used in setting up direct deposit. Do NOT use the number on your checks. This long-form number will not match, and unfortunately, the deposit will be returned.

    • Tax refunds cannot be redirected. They must be posted to the account number provided with the deposit. If the account number is incorrect in any way, the deposit must be returned.

    • If your account was previously closed, and a tax refund is sent to St. Louis Community Credit Union, we are not able to reopen the account and accept the deposit. The IRS requires that the deposit be returned if the account is closed.

    • You may check the status of your refund in the following ways:
      • Visit the IRS website at irs.gov 24 hours after e-filing, and select Where’s My Refund?

      • Using a mobile device, you can download the IRS2Go app to check the status of your refund; or

      • You can also call 1-800-829-4477 to check on the status, but only if:
        • It has been 21 days or more since you filed electronically;
        • More than six weeks since you mailed your paper return; or
        • The Where’s My Refund? tool on the website directs you to contact the IRS.
 

*Source: IRS.gov

 

St. Louis Community Credit Union does not provide tax, legal or accounting advice. This content was prepared for informational purposes only, and is not intended to provide, and should not be relied on for tax, legal or accounting advice. Consult your own tax, legal and accounting advisors before engaging in any transaction.

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