The start of the 2017 tax season occurred this Monday on January 23rd. (Some argue tax season never ends.) By this we mean that Monday was the first day you can officially your income tax returns. Employers have until the 31st of this month to give you your W-2 and 1099 forms. If you made income on your investments in 2016, you may have to wait until mid-February to get all of your required forms.
Below is a chart of some of the forms that you may receive in order to complete you tax filing:
| Form Name | Purpose | When you will receive it |
| 1099-B | Stock sales and capital gains | January to mid-February |
| 1099-DIV, 1099-INT | Dividends paid and interest earned over $10 | January to mid-February |
| 1099-G | State and local tax refunds | January |
| 1099-K | Credit card payments for sharing economy income | January |
| 1099-MISC | Non-employee income, rental income | January |
| 1099-R | Distribution from a retirement plan or IRA | January |
| 1099-SA | Health savings account distributions | January to mid-February |
| K-1 | Partner’s share of income, deductions and credits | Could be as late as the business’s extended due date for filing its returns |
| SSA-1099 | Social Security income | January |
| W-2 | Wage and tax statement | January |
This year, tax payers have until the 18th of April in order to file taxes. If they opt for an extension, that date gets pushed back to the 16th of October.
For some deductions, you will need specific forms. Below is a chart looking at some of the popular deductions and credits you may receive:
| Form Name | Purpose | When you will receive it |
| 1098 | Mortgage interest | January |
| 1098-E | Student loan interest paid in excess of $600 | January, may be online |
| 1098-T | Tuition and education costs | January |
| Annual giving statement | Size and timing of your charitable gift | 2016 and through January |
| Childcare expenses | Amount paid to your childcare provider | Ask your care provider for details |
| Property tax statement | Amount you owe on property taxes | Late 2016 to early January, may be online |
Remember, some tax returns may be mailed back to you later than usual, as per the IRS. Don’t fret. AS long as you get your taxes in on time, you will be fine.
Source: Cari Weston, American Institute of Certified Public Accountants
Kat Jennings provides internationally recognized executive search services to organizations searching for talented tax professionals. Kat been retained by organizations worldwide to locate tax executives with highly specialized tax knowledge and expertise. She has a thorough understanding of the tax business community and a proven record of stellar performances for clients.
Kat is a widely recognized expert in high level, retained tax search and provides a level of service you rarely experience with other firms. With the competition for highly trained tax executives at an all-time high due to tax increases by multiple government revenue authorities, your organization is best served having a highly qualified tax executive search expert sourcing candidates for you. Contact Kat at 502.512.4888 or kat@etsearch.com for tax executive search services.
In order to ensure privacy, tax executives generally do not respond to online ads or submit their resume to portals. Senior tax executives are not comfortable sending their private information into a resume portal to an unknown person only to receive an automated message. This places companies at a huge disadvantage when searching for a senior level tax executive.
In order to access the best pool of tax executive talent, a company greatly benefits working with a search consultant who has earned a high level of trust with tax executives. Over three decades, we have worked tirelessly to build relationships with tax executives most companies rarely have access to on a tax executive search.
As a globally recognized consultant to multinational organizations searching for tax professionals, Kat has been retained by law firms, international public accounting firms and corporations including Apple Computer, AC Neilson, Accenture, Agilent Technologies, Allergan, Alza, American Express, American Media, Aon, Baker & McKenzie, Barclays Bank, Bechtel, Cargill, Carl Zieuss Vision, Century Aluminum, Chevron, Clorox, Citigroup, Commercials Metals, Constellation Energy, Countrywide, Del Monte, Deloitte Touche, DFS, DLA Piper, E&J Gallo Winery, Electronic Arts, Ernst &Young, Fox Entertainment, Fremont Investments, General Electric,General Motors, Herbalife, Hewlett Packard, Hyatt, Intel, Jones Lang LaSalle, Kimco Realty, KLA Tencor, Koch Industries, KPMG, Levi Strauss, Liberty Mutual, LKQ, Loews, Logitech, Lucas Film, Maersk, McKesson, Nalco, Newell Rubbermaid, Nissan, Oracle, Orbitax, ,Pacific Gas & Electric, PwC, QAD, SAIC, SanDisk, Sanmina, Sempra Energy, SONY, Synopsys, Ticketmaster, Trimble Navigation, Toyota, Univar, Wal-Mart, Wells Fargo, Vertex, Yahoo, Xilinx.
1 comment on “Time To File Your Taxes: Tax Season Has Begun!”
what about the 1095 forms
Comments are closed.