News

The 2026 tax filing season is around the corner. The Internal Revenue Service will start accepting and processing federal individual tax returns on January 26, 2026. For most taxpayers, the deadline to file a 2025 tax return and pay any tax owed is Monday, April 15, 2026.

Whether you prepare your own return through the IRS Free File program, or take advantage of our discounts on convenient tax services like TurboTax and H&R Block, consider the tips below to help ensure your refund reaches your First Harvest account as promptly as possible.

• Confirm the name used on your tax return matches the name used on your account. Mismatched information may prevent your refund from being deposited into your account.
• Before filing your return, verify your account number and the corresponding account type (savings, checking, etc.) you wish to have your refund deposited into are correct. Members can view their full account number under the “Account Information” link within Online Banking.
• Use resources such as “Where’s My Refund” available at IRS.gov, to track the status of your refund. State refunds can be tracked at state.nj.us/treasury/taxation in New Jersey, and at mypath.pa.gov in Pennsylvania.
• Additional information related to the One, Big, Beautiful Bill and additional changes that may affect your tax filing process and refund can found on the IRS website.

First Harvest Tax Form Information

IRS Form 1098 (Mortgage Interest Statement):

• Members can expect to receive two separate IRS Form 1098 for tax year 2025 due to the mortgage servicer change to Midwest Loan Services in September 2025. Members will receive a form from each servicer reflecting the portion of the year they serviced the loan.
• For members expecting to receive this form from First Harvest, physical copies of the form were mailed in January 2026 to the address we have on file. Please note, if your mortgage loan interest paid in 2025 is less than $600, you will not receive a 1098 Mortgage Interest Statement from us.
• Midwest Loan Services also mailed their 1098 form to eligible members in January 2026. For additional information and to digitally access this form, sign into your Midwest Loan Services account online.

IRS Form 1099INT (Dividend Earnings):

• For members expecting to receive this form, physical copies of the form will be mailed in January 2026 to the address we have on file.
• Members with deposit accounts that earned less than $10 in interest income will not receive a 1099INT tax form from First Harvest.  

If you are expecting to receive any of the above tax forms from First Harvest but have not received them to date, please Connect With Us for a replacement copy.

New Tax Deduction for Car Loan Interest Payments

If you’re planning to deduct interest paid on a new vehicle loan, you may already have what you need. Federal legislation allows some qualifying borrowers to claim a tax deduction on interest paid for eligible vehicles purchased after December 31, 2024. We include your year-to-date interest paid on all auto loans directly on your December 31 year-end statement, which meets IRS requirements. No extra forms or requests needed! Keep in mind, not all vehicles or individuals qualify, so it’s best to check with your tax advisor to see if this deduction applies to you.