(Blog written by MIDFLORIDA Credit Union and originally posted on Dec 06, 2020 on the MIDFLORIDA Credit Union Website* and reproduced with permission)
Who’s excited for 2021 to become history? The end of the year definitely deserves celebration, but there are still a few housekeeping items to take care of before we can officially call it a wrap. As we roll into February, it’s time to start thinking about filing our tax returns as we anxiously await the receipt of necessary forms like our W-2s.
Preparing your return
In addition to your W-2, there are other forms you may receive from MIDFLORIDA that provide important information you need to include in your return. Depending on how you’ve opted to receive your statements, we will provide the following forms to you by mail or electronically:
- 1099-INT – You will receive this form if you earned $10 or more in dividends on any savings account.
- 1099-MISC –If you received an account opening incentive or prize from a contest or giveaway, the IRS requires you to report that as income regardless of the prize value.
- 1098 – This form reports mortgage interest (including points) of $600 or more that you paid.
- 1099-R – This form shows distributions from an IRA account, retirement plan, pension or similar types of accounts.
In late January, paper forms will be mailed to members who are not enrolled in Online Banking. Forms will be sent to the address we have on file and will not be forwarded, so please make sure that your contact information is up to date. Current Online Banking users may retrieve their forms via the Tax Forms tab as soon as they become available in late January. Remember, the fastest way to obtain your forms is to enroll in free Online Banking. As soon as you enroll, you’ll have immediate access to your forms!
Get your refund faster
As you prepare to file your taxes on or before April 15, don’t forget about Direct Deposit. This is the fastest way to receive your refund securely into your account. Enter the following information on your return to ensure quick and accurate processing:
- MIDFLORIDA’s routing number: 263179804
- Your full account number. To find your full account number, log into Online Banking and go to the Accounts tab. Then, click on View/Edit Accounts to view your full account number. You can also find this number at the bottom of your checks, or by visiting a branch or contacting our Help Desk.
- Select your account type to have your deposit placed in either your checking or savings.
Organize now, stress less later
Preparing your tax return can be a little unsettling. If you need help obtaining the forms mentioned above or have questions about enrolling in Online Banking, reach out to our Help Desk, Monday- Saturday from 7 a.m. to 8 p.m.
Sean Haver serves the community at the Maitland MIDFLORIDA Credit Union Branch. Sean has been with MIDFLORIDA for 14 years and Branch Manager for the past 7 years. MIDFLORIDA Credit Union specializes in Personal banking, Business banking, investments, and loans. They pride themselves as being Florida’s Community Credit Union. Being a member of the Maitland Area Chamber of Commerce has created opportunities for them to connect with local businesses and other members in the community.
For more information, please contact Sean Haver at the Maitland branch:
Sean Haver, Branch Manager - NMLS# 638589, Maitland
P: (407) 755 - 1329 Ext. 6201 F: (407) 539 - 0172