‘Tis the season of fresh starts, renewed hope, and (unfortunately) taxes. If fiscal responsibility is one of your 2024 goals, now is the time to prepare for tax season. So, as April 15 approaches, set yourself up for success by setting aside a folder for all the paperwork and forms that will be coming in—either electronically or through the mail.
Here’s a simple checklist of forms and tax considerations to watch out for before you file:
- W-2 forms from your employer(s)
- 1099 forms from any freelance or freelance clients
- IRS Notice 1444 that details any stimulus payments—also known as the economic impact payment (EIP)—from the federal government
- Forms from your credit union or bank that show interest and dividend income (forms 1099-INT, 1099-OID or 1099-DIV)
- Form 1099-R for income and disbursements from annuities, pensions, and individual retirement accounts
- Form 1040-ES that details any estimated tax payments you made
- Form 1098, which shows the mortgage interest you paid
- Form 1099-G that shows any unemployment payments you received
- Form SSA-1099, which includes all Social Security income you received
Not every individual will receive every form on this list, but it’s good to plan ahead to watch for these important documents as they come in. Being prepared (and keeping them all in one place) can set you up for a stress-free tax season.
Looking for tax help? Maps members are eligible for some stellar member discounts on tax prep services from Turbo Tax and H&R Block. If you prefer to process your returns online, TurboTax has all the tools to walk you through the process AND, you can save up to 20% on your 2023/2024 return. If you would rather meet with a tax professional, make an appointment with H&R Block and you can save $25 on their in-office tax prep services.