Tax season is upon us, and now more than ever it is essential to be prepared. Starting in 2017, a new law will cause some refunds to be delayed. The law, which has been approved by Congress, requires the IRS to hold refunds on tax returns claiming the Earned Income Tax Credit (EITC) or the Additional Child Tax Credit (ACTC) until mid-February. This will help the IRS in detecting and preventing fraud.
During this time of year, one of the biggest questions we’re asked is regarding our Direct Deposit Account Number. This number is required for the IRS to direct deposit your refund, and must be entered properly or it could result in further delays.
Your Direct Deposit Account Number is nine digits and is comprised of three separate numbers: your Member Account Number, your Share ID and a single number that is referred to as your Check Digit.
It will look similar to this: 123456009
Where to find Account Number Information
1. The easiest place to locate this information is on a Check that is linked to the TwinStar Account you want the refund to be Direct Deposited to.
2. You can also find this information on TwinStar Online Banking by following these steps:
- Log into online banking from TwinStarCU.com in the upper right corner of the page.
- Select the Account that you would like the funds to be Direct Deposited into.
- In the center of the screen, you will see the word “Details.” Click on this word, and it will show you your Account Number.
3. As always, TwinStar’s Contact Center Representatives will be available to assist you with the methods of obtaining your Direct Deposit Account Number. However, they are not able to provide the account number over the phone, and you may need to visit your local TwinStar Branch to obtain this number.
During this time of year, we receive a high call volume regarding taxes and other issues, and hold times may be affected. TwinStar Member Services: 1.800.258.3115
Useful IRS links:
- Information on Refund Delay used in article above
- The IRS has created a tool called “Where’s my Refund” that will enable you to track the status of your refund. TwinStar is unable to track your refund status or to provide IRS support. The tool is located at: www.irs.gov/refunds
- 2017 Tax Season Refund Frequently Asked Questions
- Steps for Tax Filing Season