Tax Return Tips!
Are you getting a tax refund this year? Did you know the fastest way to get your refund is by using direct deposit? Direct deposit allows the IRS to deposit the funds into your account electronically rather than waiting for a check to come in the mail. It’s a much faster process and the best part? It’s easy to set up. Simply select electronic deposit as your refund method through your tax software or accountant, and then, all you need is to do is provide your Shore to Shore CFCU account and routing number. The IRS issues more than 9 out of 10 refunds within 21 days when using direct deposit and e-File. After you have filed your taxes, you can check your refund status by visiting https://www.irs.gov/refunds.
The IRS has also shared the following reminders about filing your taxes using direct deposit:
- Refunds can be split into as many as three separate accounts. For example, a checking, a savings, and a retirement account.
- Refunds should only be directly deposited into accounts that are in the taxpayer's own name or both if it's a joint return.
- Refunds should not be direct deposited into an account in a return preparer's name.
Looking for additional assistance on filing your taxes this season? Shore to Shore has a Tax Planning Center located right within our website. Click here to learn more.
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