Although the standard tax filing date doesn’t arrive until at least April 15 every year (April 18 in 2023), as soon as the calendar turns to January, it’s time to start getting your documents in order. In addition to collecting and organizing all of your own records and receipts, you should be expecting a variety of “important tax documents” to start showing up in your mailbox.
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By law, the IRS requires that companies send out these documents by Jan. 31 every year, so you should anticipate receiving them no later than the first week of February. Depending on how complicated your financial life is, you may receive a wide variety of documents. However, the following four categories cover the bulk of documents that most Americans receive.
W-2
The most common tax form that individuals receive is Form W-2. This is a wage and salary statement issued by employers reporting your income, any taxes you paid and any deductions that were withheld from your paychecks.
For most Americans, particularly those with simple tax returns, this is the most important form they will receive — and perhaps even the only one. You’ll use the information on this form to report your wages and taxes withheld on Form 1040 when you file your taxes.
1099
There are a number of…
