Common tax forms and associated issue deadlines:
With the start of a new year, we have the start of a new tax season. When preparing to file your taxes, you’ll need several important forms that provide information about your income, expenses, and other financial activities throughout the year. The exact documents you need will depend on your personal situation (such as whether you’re employed, self-employed, have investments, own a home, etc.). Our advisors often receive questions from clients about when tax forms will be available or whether they should have already received an important form. By knowing what forms to expect and when, you can avoid unnecessary delays and make sure you’re fully prepared for tax season.
Here’s a list of some of the most common forms required, along with when you can expect them to be either mailed, available online within your account, or sent via email:
COMMON TAX FORMS WITH A 1/31/25 ISSUE DEADLINE:
- W-2 – Annual wages and withheld taxes
- W-2G – Lottery and gambling winnings
- 1099-SSA – Social Security benefits
- 1099-R – Distributions from retirement plans, pensions, annuities, IRAs, etc.
- 1099-NEC – Non-employee compensation
- 1099-DIV – Dividend income
- 1099-INT – Interest income
- 1099-K – Received payments of $5,000 or more from online platforms, apps, etc.
- 1099-SA – Distributions from HSA, Archer MSA, or Medicare Advantage MSA
- 1099-G – Government payments
- 1099-Q – Distributions from qualified education programs (529s, ESA, and Coverdell)
- 1098-T – Tuition statement
- 1098-E – Student loan interest statement
- 1098 – Mortgage interest statement
- 1095-A – Health insurance marketplace statement
COMMON TAX FORMS WITH OTHER ISSUE DEADLINES:
- 1099-Consolidated – 2/17/2025 – Combines multiple 1099 forms into a single document
- 1099-B – 2/17/2025 – Proceeds from broker
- 1099-S – 2/17/2025 – Proceeds from real estate transaction
- 1099-Misc – 2/17/2025 – Received $600 or more in rents, prizes/awards, medical and health care payments, etc.
- 1095-B&C* – 3/3/2025 – Reports on healthcare coverage for prior year
- Schedule K-1 – 3/17/2025**- Reports individual’s share of income, deductions, credits, and other tax items from “pass-through entities”
- 5498* – 6/2/2025 – Reports current year contributions to all IRAs
- 5498-SA* – 6/2/2025 – Reports current year HSA contributions and fair market value of account
* Not required for filing
**Issue deadline is 9/15/2025 if extended
Ensuring you receive these forms in a timely manner can help you avoid the last-minute scramble that often accompanies tax return preparation. It will also provide you with plenty of time to contact the appropriate institution to have a form resent if you do not receive it. Once you have everything in hand, you can begin preparing your tax return or hand all of your paperwork off to your tax professional. Filing early should allow you to receive your refund earlier, as well as avoid any potential penalties for late filing. In addition, staying organized and on top of these key documents can help reduce the stress associated with tax return preparation and allow for a smoother process. Make sure to keep an eye on your mailboxes and inboxes over the next few months to begin compiling your documents and allow for a smooth filing experience.
Author:Erik Shellenhamer, CPA | Senior Tax Associate
Written: December 23, 2024