January 6, 2020 - Douglas Myser

Tax documents you need to file right. When most people celebrate the new year, tax returns aren't generally on their minds. But if you're expecting to get a tax refund and itching to have that money in your pocket as soon as possible, there's a good reason to want to have your return prepared quickly and get the ball rolling on getting your hard earned money back from the IRS. Nevertheless, even those with the most incentive to get started on their tax returns have to keep in mind there are limits to how early they can file. The IRS doesn't even start to accept returns until late January, and even then, you might not have all the information you need to complete an accurate return. In particular, without the following tax documents, trying to file can cause you to make mistakes and require you to file amended returns that can cause even more delays in getting a refund. Tax documents you need to file right.

W-2s. If you're an employee, then you'll get a W-2 form from your employer. The IRS requires employers to get W-2s to their workers by January 31, although some get them out earlier. The reason why the W-2 is important is that it has a lot of information that goes directly on your tax return. You'll find your income for both federal and state purposes, as well as amounts you've had withheld from your pay for things like income tax withholding, payroll taxes for Social Security and Medicare, contributions to retirement plans, or health related items like flexible spending accounts or health savings accounts. Some taxpayers decide that they can figure out what's likely to show up on the W-2 based on other sources, such as their final paycheck of the year. If there are disparities between what you put and what ends up on the official W-2 however, it'll increase your chance of your return getting bounced back or audited. That's why waiting to have your W-2 is the best move. Tax documents you need to file right.

If you didn't get a refund this year, but instead had a tax debt, we can help. We can file all of your past due tax returns, then determine your Tax Relief options in the IRS code. That's what Tax Resolution does, help you problem solve your tax debt, by giving you your best options. Our 36 year old Tax Resolution Company is a leader in the Tax Resolution Services industry. We are a Nationwide firm that can, if needed, take your case to Tax Court. While 99.9% of all cases do not need Tax Court, its nice to now we are in your corner in case. If the Collection Division of the IRS puts a IRS Wage Garnishment or Bank Levy on you, we can work on that also. Call for a Free Consultation today. 1-888-689-7861