Tax Season Roundup!!

Comment May 28, 2014 by Dick L.  


Tax season has finally come to an end, or has it? Some of you may have taken advantage of the Internal Revenue Service (IRS) Extension Program which allows you more time to prepare your taxes providing you meet certain criteria established by the IRS.

The new deadline date for the extension program is October 15, 2014; when all taxes become due. See IRS.gov for more information.

At Triangle Credit Union, we had another very successful season preparing 324 returns with 90% of them going Direct Deposit. I would like to take this opportunity to thank our volunteers, who willingly gave their time each of the (9) Saturdays we were open to provide this valuable service. We couldn’t have done it without you.

Some food for thought; if you are in need of a copy of your tax return or transcript; then go to the IRS.gov for assistance. The IRS has information on their site that will help you obtain a record of your returns either current year or past years. You can even order copies of (5) types of returns online or mailed to you. Generally, IRS transcripts are often used to validate income and tax filing status for mortgage, student and small business loan applications, and to help with tax preparations.

Finally, it is not too early to start preparing for next year’s tax return. Some considerations you may want to make are:

  • Students planning for summer job
  • Summer Day Camp expenses may qualify for tax credits
  • Getting Married this summer, tax tips to “Live Happily Ever After”
  • Mid-year Retirement Savings check-up

You’ll find much more valuable information at IRS.gov.

Dick Lavoie - VP Marketing 

 

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