David M.Green Bookkeeping and Tax Service -

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Be on the lookout for tax statements

Tax filing is all about the paperwork. Not only do we have to fill in forms (a little later than usual this tax filing season as the Internal Revenue Service scrambles to make updates based on the late-enacted American Taxpayer Relief Act), but we also have to have the official tax statements detailing the amounts that go our returns. Most of these documents ...must be mailed (or emailed) to taxpayers by Jan. 31. Workers will get W-2s if they have jobs, W-2Gs if they got unemployment benefits and 1099-MISC forms for work done as self-employed business owner or for doing independent side jobs to earn a little extra on the weekends. Forms that will show up in investors' mailboxes include 1099-INT for interest earnings, 1099-DIV for dividend payments and capital gain distributions and 1099-B for transactions handled by a broker. Students will get Form 1098-T listing tuition payments and Form 1098-E showing how much student loan interest was paid last year. And retirees will get Form 1099-R is they're receiving IRA or other retirement plan payments and Form SSA-1099 if they're getting Social Security benefits, too.

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