Important Information About Tax Processing Deadlines
In light of current events, the CU*Answers tax team is closely monitoring all news related to tax reporting and deadlines. Although the IRS has made a few announcements regarding extending tax day to July 15, as of now there have been no directives or instructions regarding extending our submission deadlines. At this time, we are still planning on adhering to the same verification and processing schedule as published in the year-end processing guides.
March and April Deadlines
Self-processing credit unions, make sure you submit 1098 and 1099 information to the IRS today! All credit unions, be sure to check the year-end guide for details on verification and submission of 5498 information.
Don’t Forget 2020 is a Leap Year
Be sure to keep that in mind while completing monthly verifications and calculating accruals/interest. Contact a Client Service Representative for more information on what this means for your verifications and calculations.
Keep Up to Date With All the Tasks and Deadlines in the: