Originally published January 3, 2022. This archived article may refer to rules, amounts, or deadlines that have changed. Confirm guidance for your filing year before acting.
Merry Christmas and Happy New Year!
The IRS will start accepting income tax returns on: Jan 31, 2022.
Organize your records for tax time Good organization may not cut your taxes. But there are other rewards, and some of them are financial. For many, the biggest hassle at tax time is getting all of the documentation together. This includes last year’s tax return, this year’s W-2s and 1099s, receipts and so on.How do you get started?
- Print out a tax checklist to help you gather all the tax documents you’ll need to complete your tax return.
Track paperless records as they come
- Charitable donations
- Outlays for health care
- Gambling winnings and losses
- Property tax expenditures include for your auto.
- Keep all the information that comes in the mail in January, such as W-2s, 1099s and mortgage interest statements. Be careful not to throw out any tax-related documents, even if they don’t look very important.
- Collect receipts and information that you have piled up during the year.
- Group similar documents together
- Make sure you know the price you paid for any stocks or funds you have sold. If you don’t, call your broker before you start to prepare your tax return.
- Know the details on income from rental properties.
Life events you experience
Documents related to life events should all be saved, such as records of:- marriage
- death of a spouse
- divorce
- deductible alimony payment records
- adoption papers
- child custody agreements
- Social Security card
- Childcare receipts
- Contributions to college savings plans
- Closing documents
- Home improvement invoices, receipts and proof of payment
- Annual mortgage statement