File Without 1099s
Just like your W2′s, you can file your taxes without your 1099 forms. A 1099 form is used to track your stocks sold, interest or dividend income, or your income if you worked as an independent contractor. It is always better to wait for the forms if at all possible, to ensure accuracy on your return, but with a little bit of information, you don’t need to have the actual forms to do your taxes. 1099s come in a lot of different forms. Below is just a few of the different 1099 forms: **1099-B Proceeds from broker and barter exchange transactions. **1099-C Amount of canceled...
read moreMissing W2′s? Business No Longer Exists? Tips to Get Your Forms!
So what do you do if your employer does not send you your W2 forms? If the company is still in business, this could just be a matter of making a simple phone call or two, but what if the company no longer does business? How do you go about getting forms from some company that doesn’t exist anymore? Here are some ways to try to troubleshoot the problem so you don’t end up on tax day with nothing to give the IRS. First, try to try to contact the employer. Send a certified letter to the last known address with a return request. This will show the IRS that you did, in fact, really...
read moreHow Do I File Taxes With No W2′s?
The IRS form W-2 gives you all the information you’ll need to file your taxes. Generally, this form is required in order to file your taxes. But what if you are unable to retrieve a W-2 or a 1099 form from your employer? Can you still file taxes without these necessary tax forms? You can still file without a W-2 by inputting your employer’s information and estimated wages — and by substituting a Form 4852. Online eFile tax programs such as TurboTax and H&R Block can submit this Form 4852 as a replacement for your W-2 to the IRS for you automatically — no W-2...
read moreWhen Do I Stop Making Money for 2009 Taxes?
What is that cut-off date for income that needs to be declared on your 2009 taxes? Well, it will be different for everyone. The official cut-off is December 31st. Any money that has been deposited before this date is fair game on your 2008 taxes. Where this can get confusing is when you are not going to receive payment for your 2009 work until 2010. E.g. You received your last paycheck on December 26th, but you still have to work on the 27th, 28th, 29th, and 30th and you won’t see that money until January 16th. The date on your check is what is going to matter. Even though those days...
read moreNo Tax Software? No Problem… Try Illinois WebFile!
Yay! The government is finally making it easier and more cost efficient to file your taxes online in Illinois thanks to WebFile. This is a free program which allows you to file your taxes with the ease of the internet but none of the costly software or tax professionals. With WebFile, you pay nothing…that’s right…NOTHING! Not even the cost of a postage stamp to mail out your “efile” copies or the gas to get that refund to the bank. It’s quite simple. Just go to tax.illinois.gov and file right from home. Your tax information goes directly from your computer...
read moreSave Taxes with Last Minute Charity Donations
It’s not too late to get a tax deduction on this year’s taxes. You have until Janurary 31 to make any charitable donations which can be claimed as deductions on your tax return. Donations must be made to qualified charities in order to receive a tax deduction. Donations you made to a political candidate are not eligible for tax deductions. Clothing, cars, and other items donated to charity may be deducted. You may deduct the fair market value of these items. If you make a donation of $250 or more (in dollars or goods), be sure you get written acknowledgment from the charity or...
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