Although it’s only January, you can start getting ready to file your tax returns.
Be on the lookout for forms such as Form W-2
and/or Form 1099-MISC
– depending on the nature of your employment arrangement – in the mail. Time.com offers a checklist
on other possible forms you may need for tax filing.
You can also begin gathering statements and other documents related to business or other qualified expenses. Turbotax offers a list
of items you might need in addition to your tax forms. Starting the process earlier in the year can help avoid scrambling for vital information when the filing deadline approaches.
The IRS also offers their site US Tax Center
as a centralized information resource on filing options, due dates, resolving tax issues, paying taxes, deductions, refunds, and other tax related questions.
You don’t have to wait until the last minute to gather important information, get questions answered, or learn more about different options. Remember any website is no substitute for qualified professional guidance. Utilizing these educational resources can be a starting point for understanding the filing process and gathering your important documents sooner rather than later can help reduce the stress of tax time.