It’s finally March which means tax season is in full swing! Here at Reliance Tax Group, we want to take all the stress and second-guessing out of your tax planning. To give you a little peace of mind, we’ve put together a checklist of all the items you’ll need to file your return.
Step 1: Personal Information
The first step to gathering your information is simple. We need to tell the IRS who is filing, who is covered, and where to send your return. Be prepared to provide Social Security numbers and dates of birth for you, your spouse, and any dependent(s). You’ll also need your bank account and routing number- if you prefer direct deposit for your refund.
Step 2: Income Documentation
Next up, you’ll need to gather documents for your income. These could be such documents as your W-2, a 1099-G if you were on unemployment, Social Security benefits, alimony received, rental property income, retirement and self-employed income and expenses.
Step 3: Adjustments
Adjustment items help reduce the amount of your income that is taxed, thus either lowering the amount you owe to the IRS, or raising the amount they owe to you. These include items such as student loan interest statements (1098-E), tuition paid throughout the year, contributions made to an IRA, 401-K and HSA as well as receipts for energy-efficient home improvements.
For a full overview of documents, visit the IRS website.
Step 4: Relax and Let Us Take Care of the Rest
Now that all your documents have been gathered, we’ve got you covered! To get started, give us a call at (720) 452-2915 or visit our website!
