Preparing for Tax Season

Written by February 13, 2022

Tax season is now in full-swing! That being said, it is crucial to gather all year-end documents in order to avoid processing and refund delays, as well as ensure a complete and accurate tax return. Here is a checklist of year-end documents to gather: 

  • SSN card: Double-check that the nine-digit number on your SSN card matches the SSN on your tax return. 
  • Bank account and routing numbers: These are used to get direct deposit refunds from the IRS. Direct deposits are quicker and safer (in comparison to paper check refunds, which can get lost or stolen). 
  • W-2 forms from employers
  • Forms 1099: These include forms for unemployment compensation, as well as distributions from dividends, pension plans, annuities, and retirement plans (e.g. IRA).
  • Form 1099-K and 1099-MISC: This applies to independent contractors and temp workers.
  • Form 1099-IN: This is used to report interest income. 
  • Records of virtual currency transactions (e.g. cryptocurrency)
  • Forms 1095-A: This is also known as the Health Insurance Marketplace Statement, which is used to “reconcile advance payments or claim the premium tax credit.”
  • Letter 6419 (2021): This is documentation of 2021 advance child tax credit payments. Its purpose is to reconcile advance child tax credit payments.
  • Letter 6475 (2021): This is documentation of 2021 economic income payments (i.e. coronavirus stimulus checks). Its purpose is to determine your eligibility to claim a Recovery Rebate Credit. 

Note: This information cannot take the place of advice from a lawyer. Each case is different and needs individual legal advice. You should contact the LITC or a private attorney if you need representation on a tax matter or if you have questions. 

-Emily Chang