November 30, 2007, Newsletter Issue #92: Types of Tax Documents You May Receive

Tip of the Week

If you are trying to get ahead of the curve with your pre-preparation tax planning and organization, keep an eye on your mailbox for important tax documents. You should begin receiving income tax return documents and paperwork in the mail sometime around mid-January. Each situation is a little different, but in general there are common tax documents that most people receive. Employers will send you W-2 forms. If you freelance, clients for whom you've completed at least $600 worth of work should each send you a 1099-MISC form. If you've earned dividends on mutual funds or other investments, you should receive one or more 1099-DIV forms from the account administrator. If you earned interest on your checking or savings account, you should receive a 1099-INT. If you have a mortgage, you will receive a 1098 from your mortgage company itemizing the deductible interest you paid in 2005. You may receive other income tax-related forms as well.

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