Everything You Need For A Stress-Free Tax Season

  • February 13, 2024
  • By Andrea Hoffman

It is officially tax season, everyone’s favorite time of year. To help you prepare to file your returns, we have put together this quick guide to hopefully make filing a little less painful.

If you have already filed your 2023 tax return, you can check the status of your refund 24 hours after e-filing or 4 weeks if you filed a paper return. To check the status of your refund, visit irs.gov/refunds.

The IRS officially started accepting and processing 2023 tax year returns on Monday, January 29, 2024. The tax filing deadline is Monday, April 15, 2024. 

All CoastHills tax forms have been mailed and posted electronically in Online Banking under eNotices (you will only have acces to eNotices in Online Banking and not through the CoastHills Mobile App). If you would like to view your forms electronically but have not enrolled in Online Banking, you may register by visiting CoastHills.coop, then click the Register link in the login drop down.

You must be signed up for electronic statements to view eNotices. To sign up for electronic statements, select ‘Additional Services’ then ‘eStatements.’ You must then review and agree to the e-sign agreement by clicking ‘I Agree’ at the bottom of the page. Once that is complete, you will have access to eNotices.

IRS Form 1099

Paper copy mailed January 23, 2024
This form shows your dividend earnings. Note: If the dividends received on all your accounts combined equal less than $10, you will not receive a form 1099. 

You can find an electronic version of this form within Online Banking under eTaxes. After logging in, select ‘Additional Services’ then ‘eNotices.’ At the bottom of your eNotices page is where you will find eTaxes. 

IRS Form 1098

Paper copy mailed January 23, 2024
This form shows the amount of interest, points, or mortgage insurance premiums you paid on your mortgage loan. Note: If you paid less than $600 in mortgage interest, you will not receive a form 1098.

You can find an electronic version of this form from your mortgage account within Online Banking. After logging in, select your mortgage account which will take you to your loan dashboard. From there, select ‘Documents’ at the top of the page then ‘Taxes’ from the menu.

For CoastHills Home Equity Loans and HELOCs, you can find an electronic version of these forms within Online Banking under eTaxes. 

Have your refund deposited directly into your CoastHills checking or savings account.

All you will need is the CoastHills routing number – 322270822 – and your 13-digit account number, which can be found on your checks or in Online or Mobile Banking when you click on the details drop down. You can also set up account alerts in Online and Mobile Banking to receive an email, text or push notification when your funds arrive. 

Set up alerts in Online Banking:

Log in to Online Banking and select ‘My Settings’ at the top of the page. Scroll down to ‘Other Settings’ and select ‘Alerts & Notifications.’ Click the ‘Add an Alert’ button, then select Large Deposit. Choose from the dropdown which deposit account you would like to receive an alert for, and the dollar amount the deposit should equal or exceed. 

For ex. If a deposit in SUPER CHECKING – 80 equals or exceeds $100. That means, you will receive an alert anytime funds $100 or more is deposited into your account.

Set up alerts in Mobile Banking:

Log in to the CoastHills Mobile App and select ‘More’ at the bottom of your screen. Choose the gear widget in the top right corner, then ‘Push Notifications.’ From there, find the deposit account your tax return will be sent to and click the button to the right of ‘Large Deposit’ to turn it green. You can then change the amount to your preference by clicking anywhere in that row. 

For ex. Large Deposit equal to or over $100.00. That means, you will receive a push notification any time funds $100 or more is deposited into your account.

Have your tax return prepared and filed by CoastHills Wealth Management

Gain peace of mind by working with local tax professionals you know and trust. Schedule an in-person or virtual appointment by calling (805) 733-7899. Preparation fees apply, please speak with CoastHills Wealth Management for details.

You are receiving a tax refund. Now what?

First, congratulations! It is always exciting to receive a refund from the IRS. While our first instinct is to spend that money right away, we have a few recommendations for saving your money, which will certainly give you more satisfaction overall. 

Build your emergency fund: Ideally, your emergency fund should cover about 3 to 6 months’ worth of expenses. If you are just starting out, begin with small goals like saving $25 a month which will get you to $300 by the end of a year. Do what works for you and your budget. For more tips, visit the CoastHills Financial Wellness Center.
Grow your money with a Share Certificate: If you’re able to lock your money away for a period of time, consider a share certificate. With higher dividend rates than most checking and savings accounts, you can park your refund and watch it grow. Our short-term promotional certificates can help you make the most of your money, quickly and efficiently.

Beware of tax refund scams

As always, use caution when you receive any unexpected communication from the IRS, especially during tax season. There are many reported forms of fraud including email refund schemes and phone impersonators. Do not give out any personal information like your social security number or bank account numbers. The IRS initiates most contact through regular mail via the US Postal Service and will not initiate contact via email or text message requesting personal financial information. For more ways to protect yourself during tax season, visit the IRS website.

Visit the CoastHills Financial Wellness Center

If you are looking for more resources to help you with tax season. The CoastHills Financial Wellness Center includes a number of articles and videos with tips and tools to help you file your 2023 tax refund.

Here to help

No matter your inquiry, give us a call at (805) 733-7600, or use one of our other convenient contact methods.