Checklist of 2011 Tax Forms to Watch for

SUSIE GHARIB: You`ve probably been finding tax forms in your mailbox these
days, a sign that the April tax deadline is getting close. Tonight`s “Money
File” tackles the forms you need to watch for. Here`s Karen Gibbs, founder
of the “Gibbs Perspective.”

KAREN GIBBS, FOUNDER, THE GIBBS PERSPECTIVE: Don`t look now, but tax
season is just around the corner. While you`ll have two extra days to file
your taxes, thanks to April 15 falling on a Sunday, there are some things
you should look for by the end of this month. If you are working, your
employer is required to mail your W2 form detailing your annual wages,
salaries and tips paid, as well as amounts of Federal, state, Social
Security and Medicare taxes withheld no later than January 31.

If you are an independent contractor earning $600 or more per year,
you should receive form 1099-misc. If you received interest on financial
deposits or investment dividends, look for forms 1099-int and 1099-div. Did
you receive a distribution from pensions, annuities, profit-sharing or IRA
plans? If so, look for form 1099-r. And lastly, IRS form 1098 details
real estate taxes and interest paid on mortgages. If you need an extension,
filing form 4868 will give you until August 15 to file your taxes. You can
get an extension if you pay part or all of your estimated income tax due by
using a credit or debit card, but your payment must be at least $1. I`m
Karen Gibbs


Similar Posts:

, , , , , , , , , , , , ,