What to Do If Tax Documents Are Missing
It certainly seems as if this year is flying by. It’s March already, and the deadline for filing your federal income tax return (April 15) is looming. So, you’re probably getting ready to file your taxes… But what do you do, if you discover certain forms are missing?
Employers and other institutions in charge of sending you these forms are required to do so by January 31, so you should have received everything you need by now. But occasionally, things get lost in the mail or other mishaps occur. Here’s what you need to do.
W-2s and 1099s are used to document your income for the year, either from employment, independent contracting, certain investments, and Social Security income. If you’re missing your W-2, contact your employer first. If you’re still experiencing difficulty you can also contact the IRS at 800-829-1040. They will ask you a series of questions and help you locate the information you need.
As for 1099s, you aren’t technically required to file those with your return. You can gather the income information from year-end statements, if you have those. Log into the online portal for those accounts and you might be able to find the information you need. Contacting the issuer of the form can be helpful but might not work if you wait until April.
1098 forms provide information that you need to claim certain deductions, such as mortgage interest or student loan payments. Once again, you can contact the issuer of those forms or simply take the information from year-end statements.
Missing healthcare Forms 1095-A, 1095-B, and 1095-C can appear to be a huge hang-up. Due to the laws set forth by the Affordable Care Act, you are required to report healthcare coverage on your income tax returns. But rest assured, if you’re missing Forms 1095-B or 1095-C, you can file your return anyway. You do need to request Form 1095-A from the issuer and use it to complete your tax return.
In the event that you can’t gather all of your forms on time, you can request an extension on filing your income taxes. And remember, it’s important to continue consulting with us on issues like taxes on Social Security benefits or investment income, so that we can help you plan for income taxes in future years.