When it comes to anything that we do in our lives from filing taxes, getting mortgages, filing for marriage, driver’s and even hunting licenses; there seems to be an overwhelming amount of forms. . Consider filing a tax return. The forms that you may run across are a 1040, 1040EZ, 1040A, 1040ES, 1040 (Schedule A, B, C, D, E, F), 1040X, Form 8863, 9465, Form 14039, Form 1065, 1065 (Schedule K-1) and many more depending on the complexity of your return. However, those are just the forms to report your income to the IRS but there are forms that you may receive that officially report income and distributions for processing your return. These include the W2, 1099, 1099MISC, 1099INT, 1099DIV, the 1099 R and G, SSA1099, 1099SA and a 1099C. Overwhelming? All of these forms are important and add up to allowing the tax system to work. Then you add all of the other forms for medical visits, insurance, mortgages, loans, bank accounts, licenses, permits, online forms, offline forms, dog licenses even down to warranties and it can end up being too much.
Having some idea of what all the forms are is important but seeking out professionals to make sure that they are all filled out correctly and for what you need is critical. In some cases not having the correct form and information will delay important benefits and actions to be taken. Making sure that you have a handle on what form is important and which is not can make it all run smoothly and efficiently.