Hello, Valued Member!
While we’re still basking in the joy of the holiday season, it’s time to turn our attention to… tax season!
You might either boo or break out in applause at the thought of filing taxes, but trust us, getting started early can yield great rewards! Even if you don’t expect a refund, getting it over with as soon as possible is a reward in itself.
To make filing taxes as smooth as possible for PEFCU members, we’ve put together these ten “must-knows:”
- File your taxes early to protect yourself from tax fraud and identity theft. Early filing reduces the risk of scammers using your information.
- The IRS recommends waiting for "key documents," like your W-2 or 1099-K (now required for third-party payment networks).
- By January 31, 2025, your 1098, 1099, and other tax statements related to your PEFCU accounts will be mailed to you; or be available to view or download via mobile and online banking if you are signed up for e-Statements.
- If you receive your tax statements via mail, please visit your local branch or call (800) 226-6673 if you need a duplicate copy.
- Each January, your prior year-to-date dividend and interest totals can be seen in online and mobile banking under Account Profile > Prior YTD.
- Want to get your tax refund two days early? Then use your PEFCU account for your IRS direct deposit! At PEFCU, electronic deposits from the U.S. or local governments have no extra wait time!
- Ready to use your PEFCU account to set up a direct deposit for your refund? To ensure you have the most accurate account details, log in to onlinebanking.pefcu.com, go to Account Profile>Account Information, and view or download the Direct Deposit Form.
- Beware of tax refund loans and advances! Companies offering you an advance on your tax refund can hold on to your entire refund amount as collateral, plus their filing fee, even if the IRS hasn’t approved your tax returns.
- Need affordable, professional tax services? As a credit union member, you can get discounts on tax services from trusted companies like H&R Block and Turbo Tax. Check out LoveMyCreditUnion.org for more details.
- Remember: You don’t need to call PEFCU to check your refund status. Log in to your secure irs.gov account for the most accurate details about your return. Plus, you can set up Account Alerts for automatic notifications about expected deposits or view your balance via online and mobile banking.
Here’s to a prosperous New Year!
From Your PEFCU Family