Tips to Avoid Processing Delays on Your Taxes
Not sure if you have everything to file your taxes?
Every tax return is unique to each individual and to each business. In order to make sure your return is completed as soon as possible, here are some tips to prevent delays in the preparation process.
“Please note: this information does not reflect the changes in deadlines regarding disaster relief. To see more information from the IRS, you can visit this webpage for updates across the nation.”
Important items to complete to prevent processing delays
To prepare your tax return, the following information contains a list of items to review and complete prior to sharing with your tax preparer, if applicable:
Prior year tax return, if needed
Identification information, if any changes
Income & Expense information:
W-2’s, Form 1099 Misc, NEC, Int, Div, R, G or other
Health Insurance coverage Form 1095 A, B or C
Form 1098 for mortgage and/or tuition
K1s from partnerships or trusts
Records of sale of stocks or bonds
Sale or purchase documents for real estate
Sale or purchase documents for business assets
Donation receipts
“For more information on what to include, please refer to our Tax Preparation page.”
If you are meeting with a TBC Tax Team member, you would also need to have completed:
More tips on how to prevent delays:
Opt in to file electronically
Report all taxable income
Check for correct spelling of your name, birth date and Social Security number
If you are receiving a direct deposit, make sure it is being routed to the correct account
Make sure all information is mailed to the correct address
File for an extension, if needed
Please remember, always keep copies of your tax returns and supporting documents. Not sure how long to keep them for? Here is some information to help you sort through what to save.
Interested in learning about more products that TBC offers, ask your tax preparer that could help streamline your tax filing process. They’d be happy to help!