Starting today, not tomorrow, dive into that overflowing desk drawer filled with tax documents and receipts. The IRS persistently encourages taxpayers to plan ahead and the 2022 filing period began January 24th, 2022.

Start by reviewing Top Six Ways to Stay Organized During Tax Season by The Budgetnista, which offers tips for tracking charitable contributions and receipts as well as suggestions for documents to shred.

Whether you are filing yourself or need help from a tax pro, you can receive special savings with Love My Credit Union Rewards. This free program for credit union members has teamed up with TurboTax and H&R Block to provide tax solutions for everyone. The filing deadline this year isn’t until April 18th, but file early to avoid processing delays. Those who expect a refund will usually receive it within three weeks after filing, using the combination of e-filing and direct deposit.

However, the Internal Revenue Service reports that early tax returns might be delayed this year. Congress passed a new law requiring the IRS to hold tax refunds that include Earned Income Tax Credit and Additional Child Tax Credit until February 15, 2022, regardless of how soon you file. Laws passed to reduce losses from identity theft will also force the IRS to delay refunds for those claiming specific deductions that might reveal an identity theft attempt.

The IRS website has many resources to help filers find answers to their questions, as well as helpful tips about the benefits of direct deposit, explanations of credits and deductions, instructions on the use of their “Where’s My Refund?” tool, and much more.

After preparing your return, what if you owe the government, but you don’t have the funds to cover the expense? Pay what you can afford and remember, VacationLand FCU is always here for you. Several options include:

  • If possible, set up a payment plan with the IRS
  • Secure a personal loan
  • Use the equity in your home
  • Obtain our 911 Emergency Loan

VacationLand’s Personal Loans offer affordable rates, low monthly payments and an easy application process. No worries about prepayment penalties, and decisions are made locally and quickly. Our Simplicity Consolidation Loan will combine your debt into one simple monthly payment. You can borrow between $1,200 and $10,000 with flexible terms up to 60 months. Our revolving Home Equity Line of Credit (HELOC) means that after approval, the money will be available to spend as you see fit and use over and over again as needed. And, though only for a maximum of $500, VLFCU’s 911 Loan offers you lower rates and fees than a “payday” lender, along with immediate financial assistance.

Make your life easier by beginning tax preparations today; however, if you need to apply for any of these loans, don’t panic. Just stop by one of our five convenient locations or call 800-691-9299 for more information. We value your membership and appreciate the opportunity to serve you.