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Tax Season is Still On.
| Posted on February 19, 2018 at 11:55 PM |
 Do you have all your
required Tax Filing Documents? * Form W2 * Form 1099 - MISC (If
you are a Contractor or Independent Employee) * Form 1099 - G (To
show Payment received from Government Agencies, Unemployment Benefits, Alimony,
Child Support). * Form 1095 - To show
that you are enrolled in a Qualified Health Plan, which will allow you to get
your Premium Tax Credit). * Form 1098 - To show
Payment Received from Interest (Interest Income). * Profit & Loss
Financial Statements (If you are a Business Entity or Corporation) * Property Taxes paid
on Principal Properties. *Charitable Contribution Statements.( To show
Tithes, Offerings and Donations given to Religious Organization) * All Receipts of
Purchases Made during the 2017 Year. Additional Forms, that
you may receive: a) 1099- INT - To Show
Payments received on Interest. b) 1099- DIV - To Show
Payments received on Dividends. c) 1099- R - To show
Pensions and Payouts from Individual Retirements Accounts. d) 1099-B - To show
Broker Transactions and Barter Exchanges. e) 1099-S - To show
Real Estate Transactions. Businesses may not
like sending out Forms 109, but they are required by law to send them out.
There are also penalties for failing to issue these Forms. No one wants trouble
from the IRS. Generally, Businesses
must issue these forms to any Payee (Other than a Corporation), that receives
$600 or more during the financial Year. This is the basic threshold. Do you need more
clarification on any of these Required Documents? Feel Free to reach out to us and
we will educate you more, help you reduce your Tax Liabilities and guarantee
your Maximum Tax Refund. |
Categories: 2017 Tax Returns, 2017taxes, 2017TaxSeason, 2018 Tax Season, Business Expenses, Business profit, Cash flow, Cash flows, Tax Bill, Tax Deductions, tax refunds, Tax Returns, tax season, w-2