The IRS has
instituted some BIG
PENALTIES for understatement of income. Make
sure you have included every single item of income. If
you do not receive a W-2 or 1099 for some of your income, that
does not excuse you from reporting it. By
signing your tax return, you are swearing under penalty of
perjury that you are reporting ALL of your income.
Should you later discover that you omitted an income item,
notify our office immediately so that we can prepare an amended
tax return(s).
Look over the following
list of income items and provide information to us about those
that apply to you:
W-2 Forms (send
the ORIGINAL and keep a COPY)
W-2G Forms
- Gambling Winnings
(send
the ORIGINAL and keep a COPY)
NOTE:
you
may
be able to apply part of your gambling losses against your
winnings - see Deductions
and Adjustments
1099 Forms (send
a COPY)
including
-
Commissions & Bonuses not included on your W-2
State Income Tax Refunds (1099-G)
- This form confirms a
prior year state tax refund.
Retirement Income (1099-R)
Interest (1099-INT)
----> Special
Note: If you have E or EE US Govt Bonds that were issued prior
to 1960 or issued in 1970
CALL
US FOR SPECIAL INSTRUCTIONS.
Dividends (1099-DIV)
Annuities (1099-R)
Miscellaneous (1099-MISC)
Unemployment Compensation (1099-G)
Social Security Received (SSA-1099 or RRB-1099)
IRA Distributions (1099-R)
MSA Distributions (1099-MSA)
K-1 Forms (send
a COPY) from
S Corporations
Estates
Income and
Expenses for each Sole Proprietorship Business
Information
about Sales of Stocks & Bonds, Real Estate and Other Assets,
Personal Bad Debts, and Installment Sales
Rental
Property Income and Expenses
Miscellaneous
Income
-
Alimony Payments Received
Unreported Tips Received
Sick Pay Exclusion Forms
Jury Duty pay
Bartering Income
Rental of Personal Property such as an Airplane or Boat
Recovery of Bad Debts deducted in a prior year
Refunds or reimbursements of deductions taken in a prior
year
Other Income of any kind (if you are not sure if it is
taxable, tell us about it anyway)
Childrens'
Investment Income Being Reported on Your Return
-
We need all income
statements.
It may be more
advantageous to prepare a tax return for the child.
