In IR-2023-17, the Internal Revenue Service (IRS) suggested a checklist for 2022 tax returns. The IRS offered several recommendations that will assist taxpayers and make for a smooth tax preparation year. In addition, we offer a few checklist items for you to consider.
1. Gather Tax Records — Taxpayers need to gather their records for the tax return. You will need Social Security numbers for all of family members, your bank account and routing numbers to file electronically, IRS Forms W-2, 1099 and 1098. You should have IRS Form 1095-A, Health Insurance Marketplace, and any letters sent to you from the IRS.
2. Report All Income — The IRS reminded taxpayers that all income is taxable. Some individuals inadvertently do not report income from goods sold online, investments, part-time or seasonal work, self-employment or income from mobile applications or the Internet. All...More