The tax season document rush is finally in our rearview mirror. Year-end taxes are generally not a favorite topic for anyone, but they always must be done! How much interest did each member pay on their loans? What’s the total dividends paid for each member? All of these fine details help ensure members receive the information they need to file their annual tax returns.
During the month of January, XDI produced 5,616,567 tax documents for credit union members; an increase over last year. These documents ranged from the very common 1099 INT to the less frequently used 1099G. Members retrieve them electronically, by mail, or in some cases, through both mediums.
XDI has been expertly producing tax documents for credit unions for 25 years, and almost 70% of XDI’s clients take advantage of this convenient service. While the rush for tax documents has come and gone, XDI will continue to produce a variety of tax forms for clients throughout 2021.
If you haven’t taken advantage of our XpressTax service and are already thinking about how to get a handle on next year’s process, reach out to us and we’ll be happy to help.