Tax Refunds & Direct Deposit Tips
Tax season is here! And, according to the IRS, the fastest way to get your tax refund is to have it electronically deposited into your financial account through IRS direct deposit.
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8 out of 10 taxpayers get their refunds by using direct deposit, which is a free service. And, combining direct deposit with electronic filing is the fastest way to receive your refund. IRS issues more than 9 out of 10 refunds in less than 21 days. Taxpayers who used direct deposit for their tax returns also received their economic impact payments quicker. You can track your refund using the IRS Where’s My Refund? tool.
To use IRS Direct Deposit, select it as your refund method through your tax software and type in the account number and routing number. Or, tell your tax preparer you want direct deposit. The Champions First Credit Union routing number is 263182545.
Be sure to double check your entry to avoid errors, even if you used the same information as previous years. If you provide incorrect information, your tax refund could be deposited into the wrong account, even someone else’s account. If this happens, it is the individual’s responsibility to recover the money. Neither the IRS nor Champions First Credit Union have the ability to recover the funds.
If the account and routing numbers you include do not pass the IRS validation check or if the account number listed is not a valid Champions First Credit Union account number, the electronic refund will be returned to the IRS and you will receive a mailed paper check from the IRS. For more information on IRS direct deposit and other information on tax refunds, visit www.irs.gov/refunds/what-to-expect-for-refunds-this-year.
Remember, as an Champions First Credit Union member, you can take advantage of special member savings with TurboTax® and H&R Block® if you need assistance filing your taxes.
For more information, don’t hesitate to reach out to one of our member service representatives.
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