Tax season is officially underway, and if you haven’t filed yet, don’t worry! There’s still time to get organized and take advantage of benefits that can make the process smoother. Whether you’re looking for ways to easily deposit your refund, reduce tax-time stress or manage any tax-related expenses, we’ve got you covered. 

1. Gather Your Documents Now

Before you file, ensure you have all the necessary documents, including: 

  • W-2s and 1099s (income statements) 
  • Mortgage interest statements 
  • Charitable donation receipts 
  • Investment and retirement account statements 
  • Last year’s tax return 
  • Deductions and credits information (medical expenses, student loan interest, childcare expenses, etc.) 

Organizing these materials now will save you time and help prevent errors. Conveniently, many of these are typically available online. 

2. File Electronically for a Faster Refund

The IRS recommends e-filing and choosing direct deposit for the fastest refund possible. At Sebasticook Valley FCU, we offer direct deposit services, making it easy to receive your refund securely and quickly. 

3. Consider a Tax-Time Loan for Unexpected Payments

If you find yourself owing taxes and need extra time to pay, our credit union offers low-interest personal loans that can help you cover the cost without relying on high-interest credit cards. A tax-time loan can provide relief and allow you to manage your budget effectively. 

4. Take Advantage of Credit Union Perks

As a credit union member, you have access to financial tools that can help you make the most of tax season, including: 

  • Lower interest rates on personal loans for tax payments 
  • Financial counseling to help with budgeting and planning  
  • Free4ME accounts for young adults to start saving early for future tax obligations 

5. Plan Ahead for Next Year

If this year’s tax season feels overwhelming, now is a great time to start planning for next year. Consider setting up a dedicated savings account at SVFCU to set aside funds throughout the year, making tax time less stressful in the future. 

6. Beware of Tax Scams

Tax season is prime time for scams. Be cautious of: 

  • Fake IRS calls or emails demanding payment 
  • Tax preparers promising unrealistically large refunds 
  • Unsecured online tax filing services 

Sebasticook Valley FCU prioritizes your financial security. If you receive a suspicious tax-related request, you can report it to the IRS. 

We’re Here to Help! 

At Sebasticook Valley Federal Credit Union, we are committed to helping our members in Newport, Pittsfield and beyond navigate tax season with confidence. If you need assistance with financial planning, loan options or direct deposit services, visit one of our branches or call us today.