Are you ready for tax season? The IRS is. They accept 2016 tax returns beginning January 23.
The majority of us – about 70% – will get a refund. Whether you use yours to pay down debt, boost your savings, or spend it on a vacation, that payment could be the largest one-time sum you receive all year. This year, the IRS is warning early filers to expect a delay. The Protecting Americans from Tax Hikes Act of 2015 (the PATH Act) mandates that the IRS hold refunds on certain claims until February 15, regardless of the date the return was filed.
Filers, especially those claiming the Earned Income Tax Credit or Additional Child Tax Credit, will begin seeing their refunds around February 27, even if the return is received early.
No matter when you send in your return, you’ll have the earliest possible access to your money when you have your refund deposited directly to your Hanscom FCU checking or savings account. Compared to standard electronic deposit, you could get your money up to two days faster.
With Payday Perqs, you’ll be credited as soon as we get a notice of deposit from the IRS – up to two days before standard direct deposit programs. That means you could be using your money instead of waiting for it.
Don’t forget about state taxes –a growing number also allow direct deposit. Find out through your state’s Department of Revenue.
Tax Filing FAQs
We get questions from members every year about taxes. Here are some of the most common ones. You can also get information about filing your taxes, forms, and worksheets at the IRS official web site.
Will I get tax forms from you this year?
Form 1099-INT is available if you've earned at least $10 in dividends among all your Hanscom FCU accounts, excluding IRAs. Form 1098 is available if you've paid at least $600 in mortgage costs. You will receive a 1099R if you withdrew any funds from your IRA in the most recent tax year.
Where can I find my Hanscom FCU tax forms?
If you are enrolled in Online Access HD, you have access to up to seven years of tax forms. If you receive paper statements, your tax forms will be mailed to you using the address listed for your account.
If you did not receive a form, you can find information about dividends received and interest paid for the year on your December 2016 statement. IRA withdrawals are not listed on your December statement.
How do I get my tax refund deposited to my Hanscom FCU checking or savings account?
To set up direct deposit for your refund, select it as an option in your tax software or tell your tax preparer you want to use direct deposit. Our routing number is 2113-8048-3. You will need your member number from your statement or tax form.
Check the instructions for your tax form if you are filling out your own taxes.
How do I check the status of my return?
Use the Where’s My Refund? tool at www.irs.gov/refunds or download the IRS2Go app from Google Play, iTunes, or Amazon. If you e-file, you can start to check your status starting 24 hours after your return has been received. If you filed a paper return, you can start checking four weeks after mailing it. You can also call the IRS Hotline at 800-829-1954.
Sign up for Direct Deposit and get early access to your money.