What documents do I need to do my taxes?
There are different tax forms that taxpayers receive in the mail:
- W-2 from your employer
- 1099-Mis, for self employments works
- 1099-Int, for bank interest from a savings account.
- 1098 Mortgage Interest, from Bank or Lenders
- 1098T, for Tuition, from Schools institutions
- There are also other pieces of supporting information you should have in front of you when you come to file your income tax return.
- Also, if you made a charitable contribution within the last year, be sure to gather receipts of your donations to turn your good will into tax-time savings.
This year you should receive a form from your Health Care provider or insurance such as
- 1095-A (Insurance through CoveredCA)
- 1095-B (Insurance through your Employer)
- 1095-C (Insurance through Medical, Medicare)
There are also you should have to present supporting information you when filing your taxes such as:
- Copy of your Social Security numbers for yourself, your spouse and anyone you are claiming as a dependent.
- Copy of ITIN number is you doesn’t have a Social Security Number,
- If you made a charitable contribution within the last year, be sure to gather receipts of your donations to turn your good will into tax-time savings.
- Any other document that supporting qualifying expenses in case you are a Self Employed
- If you have depends of 17 year old of less, any kind of document that supporting relationship and residency with the taxpayer.
I didn’t make much money last year – do I still need to file my taxes?
Even if you earned income last year, if it falls below the IRS minimum you don’t have to file a tax return. The minimum varies according to your age and filing status—whether you are single, head of household, filing jointly with your spouse or you can be claimed as a dependent on someone else’s taxes.
When determining whether you need to file a return, you don’t include tax-exempt income. In 2017 for example, if you are under age 65 and single, you must file a tax return if you earn $10,400 or more, which is the sum of the 2016 standard deduction for a single taxpayer plus one exemption.
Whats other documents do I need to do my taxes?
IRS requires taxpayers claiming Dependents to present of the following:
Medical Records, School Records, Social Services Records, Place of Worship Letter, or Doctor Letter that show dependents name, address, with dates of the year of filling or actual year date.
Also: Birth Certificate and Social Security Number card
And: Proof of Medical Insurance received
For Head of Household filing status present one or two of the following:
- Utility Bill
- Rent Receipts
- Rental Agreement Contract
- Mortgage Statements
- Property Tax Bill
Taxpayers claiming School Credits present the following:
- 1098-T Form or School Registration
- School Expenses with receipts
If you Claim Child Care, present of the following:
- Copies of receipts from the person or institution that provides of the child care.
- Employer Identification # or Social Security Number, address and telephone number of the Institution or person that provides of the child care.
Which ITINs will expire?
ITIN’s Numbers whit the middle number 70-71-72 or 78-79-80 example: 900-70-0000 will expired to January 2018.
Also ITIN’s not used for the last three years in any tax return, these needs to renew begins January 2017.
How do I renew an expiring ITIN?
- Original Passport and Utility Bill showing U.S Address
- Or Birth Certificate and Consular ID and Utility Bill showing U.S Address
- Or Birth Certificate and Foreign Voter’s Registration Card
What should I do if I’m notified that my ITIN will expire?
- If you receive notice CP-48 Notice from IRS that you, your spouse, or your dependent’s ITIN is scheduled to expire and you will be filing a tax return or claim for refund in 2018,
- You should begin the renewal process as soon as possible.
- You should not renew an ITIN if the ITIN holder now has or is qualified to get a social security number (SSN).