SECU's Tax Preparation Services Net Members $86 Million in Refunds
State Employees' Credit Union (SECU) tax preparers have just completed the 2012 tax season, helping nearly 65,000 North Carolina taxpayers claim more than $86 million in refunds and save more than $8 million in preparation fees.
Through the IRS Volunteer Income Tax Assistance (VITA) program, SECU tax preparers filed more than 57,000 member returns - a substantial increase from last year's figure of nearly 48,000, a news release said. For members whose income thresholds fall above the VITA guidelines, SECU's low-cost tax preparation services helped 7,000 tax return filers, up 30 percent from the nearly 5,000 in 2011.
In addition, more than 26,000 credit union members took advantage of discounted TurboTax services via SECU's website.
The credit union continues to actively promote its tax preparation services and ensure that members not only avoid high fees associated with tax return preparation but are educated on various tax credits for which they qualify, a SECU news release said.
About 65,000 members claimed more than $40.7 million in tax credits in 2012, including $22.7 million in earned income tax credits and more than $12 million in child tax credits.
VITA and low-cost tax prep services appointments also provide SECU staff time to assist members with budgeting and financial counseling.
"We are delighted to help so many members through the IRS VITA program, SECU's low-cost tax preparation program and by providing discounts for tax self-preparation through our website, www.ncsecu.org," said Tenesha Carter, SECU's senior vice president of tax preparation services. "Our goal at SECU is to help members and all North Carolinians keep more money in their pockets.
"The dedicated efforts of credit union tax preparers are helping SECU achieve that goal, and the amount of dollars saved on tax preparation fees confirms the positive difference SECU is making in the financial well-being of our state."
Debra Patterson, territory manager for IRS stakeholder partnerships, education and communication, said, "SECU's participation in the Volunteer Income Tax Assistance program continues to exceed our expectations.
"We are proud of this partnership between the Internal Revenue Service and State Employees' Credit Union which provides help to taxpayers in need."
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