SECU’s Low-Cost Tax Program is available to qualified members of NCPAFCU for a flat rate of $75 per return. If you are eligible to participate, SECU preparers will be able to complete and electronically file both your federal and North Carolina tax returns! Preparation of 2017 tax returns is set to begin in all SECU branches in late January 2018.
How the Process Works
Compile all of your tax documents and take them to your local branch, along with the “Getting Started Kit” referenced below.
An SECU tax preparer will review the information, determine if you are eligible to participate in the Low-Cost Tax Program and to ensure you have all necessary documents needed for us to file an accurate tax return.
An SECU tax preparer will begin working on your tax return; a completed return will be available for your review and signature within 5 business days.
Once you have signed your return and paid the $75 fee, the Credit Union can electronically file* the return and will provide you a with a copy. According to the IRS, if you are due a refund, you can generally expect to receive it within 8-15 business days.
*In rare instances, returns cannot be electronically filed. In those instances, a tax preparer will provide you with instructions on how to mail your completed return.
Getting Started – Items You Will Need
The “Getting Started Kit” provides information regarding eligibility, items to bring with you and several forms that must be completed before meeting with an SECU tax preparer. To reduce wait time at the branch, we suggest you complete this information prior to bringing your information to the branch.
Along with the completed forms from the “Getting Started Kit”, please also bring the following items when meeting with an SECU tax preparer:
Picture ID for yourself (and your spouse, if applicable)
Social Security cards for yourself and all other individuals on your return (spouse and all dependents)
Your prior year tax return
All income documents including W-2s, 1099s and other tax documents
Healthcare tax documents including Forms 1095 A, B, or C, Marketplace Exemption Letters, etc.
Form 1098-T and other documentation of higher education expenses including tuition paid and student loan interest paid
Daycare expenses and the daycare provider's name, address and tax ID number
Documentation or a detailed listing to support itemized deductions, if applicable. This may include items such as:
- Mortgage loan interest paid
- Charitable contributions
- Property taxes paid (home and auto)
- Medical expenses
Financial statements or other documents to support retirement plan rollovers
The Credit Union can generally prepare your tax return through the Low-Cost Tax Program if the return will not include any of the following items**:
Income from states other than North Carolina (You must also be a full year resident of NC to qualify)
Most self-employment income requiring a full Schedule C; we can prepare Schedule C-EZ
Foreign earned income
Non-cash charitable contributions exceeding $500
Deductions for business use of the home
**The above list is not all-inclusive. Tax items other than those listed above may be outside of the scope of our program. A Credit Union tax preparer will review all documentation before preparing your return to confirm eligibility. Please contact your local branch for additional details.
***SECU preparers can prepare returns with military retirement income on form 1099R but are not certified to prepare returns with active military income (reported on form W2).
Preparing Your Own Taxes
For members who prefer to complete their own taxes, there are a variety of planning and filing resources to guide you through each step of tax return preparation.
TurboTax®: SECU has again partnered with Intuit® to offer TurboTax® at a discount of up to $20 to our members, depending on which product is selected, when you start by using this link to TurboTax. With TurboTax, it's easy to do your own taxes and save. TurboTax coaches you every step of the way to the biggest refund you deserve, searching over 350 deductions and credits as you go.
IRS e-File: Electronically file your taxes using one of the IRS’s recommended services