Was curious to know what other FIs did to determine if they had any expiring ITINs on file since some may have expired on January 1? If you had them, how did you determine that and what steps were taken to correct it? 

Would anyone be able to share how to complete form 1042-S, our credit union is set up to process manually. I am not sure what needs to be completed and what goes in each box.
Thank you

Does any one have a sample of Policy/Procedures for using IVES program and retrieving 4506-T Tax Transcripts?

TIA!

Do any of you utilize the TIN Matching program that the IRS offers?

If so, what are your thoughts?

Thanks in advance,
Michelle

On Monday, the IRS will being accepting electronic tax returns. With more than 155 million individual tax returns expected to be filed in 2018, the threat of tax refund fraud is on the minds of consumers and financial institutions alike.

Are you using an AML and Fraud detection solution that can identify tax refund fraud? If not, you are putting your customers and your institution at risk. In our most recent blog, find out how Banker's Toolbox solutions can prevent tax refund fraud, what you can be doing to educate your customers, and red flags to be on the look out for this tax season.

Read blog post.

The results are in from this year’s 2017 Credit Union Contact Center Benchmarking Survey conducted by Strategic Contact. Register to learn how your institution stacks up and what key trends will impact your strategy for the year ahead. Registrants will also receive a link to download the results of the survey following the webinar.

Join Lori Bocklund, President of Strategic Contact, and Al Rosenbaum, EVP of Customer Success at SilverCloud Inc., as they discuss the impact of and insights behind this year’s results. Gain a better understanding of the current industry landscape, while learning how to improve your member service and respond to growing competition. In this webinar, we’ll focus on:

• The tensions, drivers, and disconnects behind a strategy focused on member experience
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• Call center staffing issues, metrics, and technology usage trends and gaps
• Current approaches to reducing workload and improving agent performance
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We are considering changing our points structure on our loans. We would like to implement the following because we are losing deals when the points are greater than $5,000.

1% of the loan amount up to $500,000, after that it is fixed at $5,000.

One of the many concerns we have in doing this, besides the fact that wealthier customers are in essence getting a "discount," is whether these "points" would be reportable on a 1098?

In reading the 1098 Instructions it states:

Reportable points. Report on Form 1098 points that meet all the following conditions.

1. They are clearly designated on the Settlement Statement (Form HUD-1) as points; for example, “loan origination fee” (including amounts for VA and FHA loans), “loan discount,” “discount points,” or “points.”
2. They are computed as a percentage of the stated principal loan amount.

2-page HSA model form from the IRS