Topic > Overview of documents needed to file taxes

IndexDocuments about your incomeDocuments about tax credits and deductionsDocuments about adjustments to your incomeInformation about taxes you have already paidMiscellaneous informationIt's that time of year again. Seemingly endless confusion, stress and headaches. It's tax season. For most people, the thought of having to pay taxes is panic-inducing. In fact, 28% or about 1 in 4 Americans cited high taxes as a source of constant stress in their lives. If you are self-employed, a freelancer or a business owner, this stress is particularly concerning given that you are more likely to be audited. There is a simple way to avoid this stress: plan ahead by gathering the correct documents and contacting your accountant promptly. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an Original EssayBut exactly what documents do you need? Because this can be a complex question, we've written a list of all the documents you need to file your taxes quickly and easily. What documents are needed to file taxes? When it comes to filing taxes, your first question might be: What do I need for taxes? Some of the first documents you will need are your ID card, in this case your driving license will work perfectly. As well as the Social Security number for you and your dependents. This will help you verify your identity with your tax preparer and help you more easily verify other information. Documents About Your Income The first document you'll need to start preparing your taxes is anything related to the income you've generated this year. These documents cover everything related to your income from any active or passive activity. The first document you will likely need is a W-2. This is the most common income information and indicates the amount of taxes withheld from your paycheck each year. It will help you determine whether you need a refund or whether you owe back taxes. Any documents related to unemployment or tax refunds, such as Form 1099-G. The next forms you will need are forms that have to do with investment income such as stock options information, Form 1099, and K-1. These can be documents related to any type of investment, from stocks to bonds to dividends. Social Security payments and benefits are found on SSA Form 1099. This form contains the number of Social Security benefits you may have received in the previous year. Information about payments from IRAs and pensions can be found on Forms 8606 and Form 1099-R. Documents Related to Tax Credits and Deductions When it comes to tax deductions, you may be wondering what to bring to the tax preparer to prove that you are entitled to the deductions you have earned. In most cases, no documentation is needed if you take the standard deduction. Although the standard deduction if you take itemized deductions is more complicated and requires more documentation. You will need to bring information about childcare costs with you. These include the amount paid, as well as your tax ID, address and name. This way you will have the necessary documentation to request the child tax credit. You will also need to bring with you information about thefts and casualties. These documents should include the cost of the damage and any reimbursements from insurance companies. Since charitable contributions are often a large deduction for many people, you will need to provide.