Organizing your information ahead of time is key to helping your tax professional be successful when working on your taxes. Prior to your appointment, follow the steps below to ensure that you have everything you need readily available.
What do you need before going to a tax professional?
Documents
According to the IRS website, here is the complete list of documents you should have prepared when going to a professional tax service. (Note: not all of these documents may apply to you. Be sure to ask the professional if there are documents that you are unsure about.)
- Social Security numbers of everyone listed on the tax return.
- Bank account and routing numbers for direct deposit or information to make a tax payment.
- Forms W-2 from employer(s).
- Forms 1099 from banks, issuing agencies and other payers including unemployment compensation, dividends, distributions from a pension, annuity or retirement plan.
- Form 1099-K, 1099-MISC, W-2 or other income statement for workers in the gig economy.
- Form 1099-INT for interest received.
- Other income documents and records of virtual currency transactions.
- Form 1095-A, Health Insurance Marketplace Statement.
- Information to support claiming other credits or deductions, such as receipts for child or dependent care, college expenses or donations.
IRS Online Account
Consider establishing an online IRS account and review the information from the Tax Records tab before you meet with a professional. You can view your account at: https://www.irs.gov/payments/your-online-account
If You’re Missing Documents
If you do not have a W-2 or Form 1099 or received an incorrect form, contact your employer for the documents. There are alternative forms, such as Form 4852 you can fill out if you cannot get access to a W-2 or Form 1099. Talk to your professional regarding this circumstance.
Your tax professional is here to help you during this sometimes-confusing process. If you’re unsure of something, just ask! Here at Ryder and Company, we are prepared to answer all of your questions, even when tax season is behind us. Contact us today to get started with a local tax service that you can trust.
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