December 2017

Tax Insight–December 2017          Rita Bhayani


Important Tax Dates and Information

If you were affected by Hurricanes Harvey, Irma, or Maria and extended your taxes, they are due on January 31, 2018. You also have until January 31, 2018, to pay estimated taxes that were originally due on September 15, 2017, and January 15, 2018.


If you were affected by the wildfires in northern California, you have until January 31, 2018, to file individual tax returns on extension. You also have until January 31, 2018, to pay estimated taxes that were originally due on January 15, 2018.


For more information, contact me or visit the “Tax Relief in Disaster Situations” webpage on www.irs.gov.


2017 Tax-Related Forms and Documentation
January is right around the corner, and you may be wondering what forms your preparer will need to complete your tax returns. Below is a list of documents you can expect, along with their anticipated delivery dates. After the end of the year, you may also receive letters from charities confirming your 2017 donations. Keep these with all of your other tax information.


If you had…

You’ll receive Form…

Around…

Wages from a job

W-2

January 31

Unemployment income

1099-G

January 31

Social Security income

1099-SSA

January 31

Interest from bank accounts

1099-INT

January 31

Dividends from stock you own

1099-DIV

January 31

Rental Income

1099-MISC

February 15

Income or loss from selling stock

1099-B

February 15

A sale of your home

1099-S

February 15

A distribution from a retirement account

1099-R

January 31

Income from a partnership or S corporation

Schedule K-1

March 15

Income from an estate

Schedule K-1

April 18

Cancellation of debt

1099-C

January 31

An HSA

1099-SA

January 31

Student loan payments

1098-E

January 31

Mortgage payments

1098

January 31

Tuition expenses

1098-T

January 31

Distributions from tuition plans

1099-Q

January 31

Health insurance from the marketplace

1095-A

January 31

Health insurance through a job

1095-B or 1095-C

January 31



Quote Corner
“It’s chaos. Be kind.”
~Michelle E. McNamara


Did You Know?
In the 2016 filing season, the IRS processed over 150 million individual income tax returns, with a total income tax after credits of $1,416,834,888.