Excise tax measure would apply to any credit union holding commercial loans in excess of 10% of its assets.
Texas, Florida gain residents as New York and California lose.
Credit unions that received a notice from the IRS informing them that their tax-exempt status had been revoked due to improper filing now have specific instructions on how to have it restored.
The 70,000-member, $1.7 billion Technology Credit Union of San Jose, Calif., has broken new ground in its attempt to convert to a mutual bank charter.
Tax season can be a daunting time of year for credit union members. Some, who view their annual refund as a much-needed source of extra cash, want to maximize their refund opportunities. Others, who owe taxes, may be wondering how they’ll afford payments. To ensure the process runs smoothly regardless...