Latest news with #1099-G
Yahoo
15-04-2025
- Business
- Yahoo
How to file for an extension, and other Tax Day advice
NEW YORK (AP) — If you've waited till the last minute to file your taxes, don't panic. You still have time to get it done. And if you're worried that you still might not be able to finish in time, you can file for an extension, which will give you until Oct. 16 to file your return. What do I need to file my tax return? Generally, every tax-filer needs the following at hand — your Social Security number — W-2 forms, if you're employed — 1099-G forms, if you're unemployed — 1099 forms, if you're self-employed — Savings and investment records — A sense of any eligible deductions, such as education expenses, medical bills, charitable donations, etc. — A sense of relevant tax credits, such as the child tax credit, retirement savings contributions credit, etc. To find a more detailed document list, visit the IRS website. Tom O'Saben, director of tax content and government relations at the National Association of Tax Professionals, recommends gathering all your documents in one place before you start your tax return, as well as having your documents from last year if your financial situation has drastically changed. Theresa Grover, site coordinator for the Volunteer Income Tax Assistance (VITA) program at Northeast Wisconsin Technical College, also recommends taxpayers create an identity protection PIN number with the IRS to guard against identity theft. Once you create a number, the IRS will require it to file your tax return. How do I file for an extension? If you run out of time to file your tax return, you can file for an extension to take more time by using your preferred tax software, with the IRS Free File tool, or via mail. However, it's important to remember the extension is only to file your tax return, not to pay owed taxes. If you owe taxes, you should pay an estimated amount before the deadline to avoid paying penalties and interest. If you expect to receive a refund, you'll still receive your money when you file your taxes. The deadline to file for an extension is Tuesday, April 15, which will give you until Oct. 16 to file. How can I avoid mistakes filing my taxes? Many people fear getting in trouble with the IRS if they make a mistake. To avoid common errors: — Double check your name on your Social Security card. When working with clients, O'Saben always asks them to bring their Social Security card to double-check their number and their legal name, which can change after marriage, for example. 'You may have changed your name but you didn't change it with Social Security,' O'Saben said. 'If the Social Security number doesn't match the first four letters of the last name, the return will be rejected and that will delay processing.' — Search for tax statements if you've opted out of paper mail. Many people like to opt out of snail mail, but paper mail can also include your tax documents. 'If you didn't get anything in the mail doesn't mean that there isn't an information document out there that you need to be aware of and report accordingly,' said O'Saben. — Report all of your income. If you had more than one job in 2022, you need the W-2 forms for each — not just the one from the job you ended the year with, said Christina Wease, interim director of the tax clinic at Michigan State University. What resources are available? For those who make $73,000 or less per year, the IRS offers free guided tax preparation that does the math for you. If you have questions while working on your tax forms, the IRS also offers an interactive tax assistant tool. Beyond TurboTax and H&R Block, taxpayers can also hire licensed professionals, such as certified public accountants. The IRS offers a directory of tax preparers across the United States. The IRS also funds two types of programs that offer free tax help: Volunteer Income Tax Assistance (VITA) and the Tax Counseling for the Elderly program (TCE). People who earn $60,000 or less a year, those who have a disability, and those who speak limited English all qualify for the VITA program. Those who are 60 or older qualify for the TCE program. The IRS has a site for locating organizations hosting VITA and TCE clinics. If you have a tax problem, there are clinics around the country that can help you resolve these issues. Generally, these tax clinics also offer services in other languages such as Spanish, Chinese and Vietnamese. ____ The Associated Press receives support from Charles Schwab Foundation for educational and explanatory reporting to improve financial literacy. The independent foundation is separate from Charles Schwab and Co. Inc. The AP is solely responsible for its journalism.
The Hill
15-04-2025
- Business
- The Hill
How to file for an extension, and other Tax Day advice
NEW YORK (AP) — If you've waited till the last minute to file your taxes, don't panic. You still have time to get it done. And if you're worried that you still might not be able to finish in time, you can file for an extension, which will give you until Oct. 16 to file your return. What do I need to file my tax return? Generally, every tax-filer needs the following at hand — your Social Security number — W-2 forms, if you're employed — 1099-G forms, if you're unemployed — 1099 forms, if you're self-employed — Savings and investment records — A sense of any eligible deductions, such as education expenses, medical bills, charitable donations, etc. — A sense of relevant tax credits, such as the child tax credit, retirement savings contributions credit, etc. To find a more detailed document list, visit the IRS website. Tom O'Saben, director of tax content and government relations at the National Association of Tax Professionals, recommends gathering all your documents in one place before you start your tax return, as well as having your documents from last year if your financial situation has drastically changed. Theresa Grover, site coordinator for the Volunteer Income Tax Assistance (VITA) program at Northeast Wisconsin Technical College, also recommends taxpayers create an identity protection PIN number with the IRS to guard against identity theft. Once you create a number, the IRS will require it to file your tax return. How do I file for an extension? If you run out of time to file your tax return, you can file for an extension to take more time by using your preferred tax software, with the IRS Free File tool, or via mail. However, it's important to remember the extension is only to file your tax return, not to pay owed taxes. If you owe taxes, you should pay an estimated amount before the deadline to avoid paying penalties and interest. If you expect to receive a refund, you'll still receive your money when you file your taxes. The deadline to file for an extension is Tuesday, April 15, which will give you until Oct. 16 to file. How can I avoid mistakes filing my taxes? Many people fear getting in trouble with the IRS if they make a mistake. To avoid common errors: — Double check your name on your Social Security card. When working with clients, O'Saben always asks them to bring their Social Security card to double-check their number and their legal name, which can change after marriage, for example. 'You may have changed your name but you didn't change it with Social Security,' O'Saben said. 'If the Social Security number doesn't match the first four letters of the last name, the return will be rejected and that will delay processing.' — Search for tax statements if you've opted out of paper mail. Many people like to opt out of snail mail, but paper mail can also include your tax documents. 'If you didn't get anything in the mail doesn't mean that there isn't an information document out there that you need to be aware of and report accordingly,' said O'Saben. — Report all of your income. If you had more than one job in 2022, you need the W-2 forms for each — not just the one from the job you ended the year with, said Christina Wease, interim director of the tax clinic at Michigan State University. What resources are available? For those who make $73,000 or less per year, the IRS offers free guided tax preparation that does the math for you. If you have questions while working on your tax forms, the IRS also offers an interactive tax assistant tool. Beyond TurboTax and H&R Block, taxpayers can also hire licensed professionals, such as certified public accountants. The IRS offers a directory of tax preparers across the United States. The IRS also funds two types of programs that offer free tax help: Volunteer Income Tax Assistance (VITA) and the Tax Counseling for the Elderly program (TCE). People who earn $60,000 or less a year, those who have a disability, and those who speak limited English all qualify for the VITA program. Those who are 60 or older qualify for the TCE program. The IRS has a site for locating organizations hosting VITA and TCE clinics. If you have a tax problem, there are clinics around the country that can help you resolve these issues. Generally, these tax clinics also offer services in other languages such as Spanish, Chinese and Vietnamese. The Associated Press receives support from Charles Schwab Foundation for educational and explanatory reporting to improve financial literacy. The independent foundation is separate from Charles Schwab and Co. Inc. The AP is solely responsible for its journalism.
Yahoo
15-04-2025
- Business
- Yahoo
How to file for an extension, and other Tax Day advice
NEW YORK (AP) — If you've waited till the last minute to file your taxes, don't panic. You still have time to get it done. And if you're worried that you still might not be able to finish in time, you can file for an extension, which will give you until Oct. 16 to file your return. What do I need to file my tax return? Generally, every tax-filer needs the following at hand — your Social Security number — W-2 forms, if you're employed — 1099-G forms, if you're unemployed — 1099 forms, if you're self-employed — Savings and investment records — A sense of any eligible deductions, such as education expenses, medical bills, charitable donations, etc. — A sense of relevant tax credits, such as the child tax credit, retirement savings contributions credit, etc. To find a more detailed document list, visit the IRS website. Tom O'Saben, director of tax content and government relations at the National Association of Tax Professionals, recommends gathering all your documents in one place before you start your tax return, as well as having your documents from last year if your financial situation has drastically changed. Theresa Grover, site coordinator for the Volunteer Income Tax Assistance (VITA) program at Northeast Wisconsin Technical College, also recommends taxpayers create an identity protection PIN number with the IRS to guard against identity theft. Once you create a number, the IRS will require it to file your tax return. How do I file for an extension? If you run out of time to file your tax return, you can file for an extension to take more time by using your preferred tax software, with the IRS Free File tool, or via mail. However, it's important to remember the extension is only to file your tax return, not to pay owed taxes. If you owe taxes, you should pay an estimated amount before the deadline to avoid paying penalties and interest. If you expect to receive a refund, you'll still receive your money when you file your taxes. The deadline to file for an extension is Tuesday, April 15, which will give you until Oct. 16 to file. How can I avoid mistakes filing my taxes? Many people fear getting in trouble with the IRS if they make a mistake. To avoid common errors: — Double check your name on your Social Security card. When working with clients, O'Saben always asks them to bring their Social Security card to double-check their number and their legal name, which can change after marriage, for example. 'You may have changed your name but you didn't change it with Social Security,' O'Saben said. 'If the Social Security number doesn't match the first four letters of the last name, the return will be rejected and that will delay processing.' — Search for tax statements if you've opted out of paper mail. Many people like to opt out of snail mail, but paper mail can also include your tax documents. 'If you didn't get anything in the mail doesn't mean that there isn't an information document out there that you need to be aware of and report accordingly,' said O'Saben. — Report all of your income. If you had more than one job in 2022, you need the W-2 forms for each — not just the one from the job you ended the year with, said Christina Wease, interim director of the tax clinic at Michigan State University. What resources are available? For those who make $73,000 or less per year, the IRS offers free guided tax preparation that does the math for you. If you have questions while working on your tax forms, the IRS also offers an interactive tax assistant tool. Beyond TurboTax and H&R Block, taxpayers can also hire licensed professionals, such as certified public accountants. The IRS offers a directory of tax preparers across the United States. The IRS also funds two types of programs that offer free tax help: Volunteer Income Tax Assistance (VITA) and the Tax Counseling for the Elderly program (TCE). People who earn $60,000 or less a year, those who have a disability, and those who speak limited English all qualify for the VITA program. Those who are 60 or older qualify for the TCE program. The IRS has a site for locating organizations hosting VITA and TCE clinics. If you have a tax problem, there are clinics around the country that can help you resolve these issues. Generally, these tax clinics also offer services in other languages such as Spanish, Chinese and Vietnamese. ____ The Associated Press receives support from Charles Schwab Foundation for educational and explanatory reporting to improve financial literacy. The independent foundation is separate from Charles Schwab and Co. Inc. The AP is solely responsible for its journalism.
Associated Press
15-04-2025
- Business
- Associated Press
How to file for an extension, and other Tax Day advice
NEW YORK (AP) — If you've waited till the last minute to file your taxes, don't panic. You still have time to get it done. And if you're worried that you still might not be able to finish in time, you can file for an extension, which will give you until Oct. 16 to file your return. What do I need to file my tax return? Generally, every tax-filer needs the following at hand — your Social Security number — W-2 forms, if you're employed — 1099-G forms, if you're unemployed — 1099 forms, if you're self-employed — Savings and investment records — A sense of any eligible deductions, such as education expenses, medical bills, charitable donations, etc. — A sense of relevant tax credits, such as the child tax credit, retirement savings contributions credit, etc. To find a more detailed document list, visit the IRS website. Tom O'Saben, director of tax content and government relations at the National Association of Tax Professionals, recommends gathering all your documents in one place before you start your tax return, as well as having your documents from last year if your financial situation has drastically changed. Theresa Grover, site coordinator for the Volunteer Income Tax Assistance (VITA) program at Northeast Wisconsin Technical College, also recommends taxpayers create an identity protection PIN number with the IRS to guard against identity theft. Once you create a number, the IRS will require it to file your tax return. How do I file for an extension? If you run out of time to file your tax return, you can file for an extension to take more time by using your preferred tax software, with the IRS Free File tool, or via mail. However, it's important to remember the extension is only to file your tax return, not to pay owed taxes. If you owe taxes, you should pay an estimated amount before the deadline to avoid paying penalties and interest. If you expect to receive a refund, you'll still receive your money when you file your taxes. The deadline to file for an extension is Tuesday, April 15, which will give you until Oct. 16 to file. How can I avoid mistakes filing my taxes? Many people fear getting in trouble with the IRS if they make a mistake. To avoid common errors: — Double check your name on your Social Security card. When working with clients, O'Saben always asks them to bring their Social Security card to double-check their number and their legal name, which can change after marriage, for example. 'You may have changed your name but you didn't change it with Social Security,' O'Saben said. 'If the Social Security number doesn't match the first four letters of the last name, the return will be rejected and that will delay processing.' — Search for tax statements if you've opted out of paper mail. Many people like to opt out of snail mail, but paper mail can also include your tax documents. 'If you didn't get anything in the mail doesn't mean that there isn't an information document out there that you need to be aware of and report accordingly,' said O'Saben. — Report all of your income. If you had more than one job in 2022, you need the W-2 forms for each — not just the one from the job you ended the year with, said Christina Wease, interim director of the tax clinic at Michigan State University. What resources are available? For those who make $73,000 or less per year, the IRS offers free guided tax preparation that does the math for you. If you have questions while working on your tax forms, the IRS also offers an interactive tax assistant tool. Beyond TurboTax and H&R Block, taxpayers can also hire licensed professionals, such as certified public accountants. The IRS offers a directory of tax preparers across the United States. The IRS also funds two types of programs that offer free tax help: Volunteer Income Tax Assistance (VITA) and the Tax Counseling for the Elderly program (TCE). People who earn $60,000 or less a year, those who have a disability, and those who speak limited English all qualify for the VITA program. Those who are 60 or older qualify for the TCE program. The IRS has a site for locating organizations hosting VITA and TCE clinics. If you have a tax problem, there are clinics around the country that can help you resolve these issues. Generally, these tax clinics also offer services in other languages such as Spanish, Chinese and Vietnamese. ____ The Associated Press receives support from Charles Schwab Foundation for educational and explanatory reporting to improve financial literacy. The independent foundation is separate from Charles Schwab and Co. Inc. The AP is solely responsible for its journalism.
Yahoo
27-03-2025
- Business
- Yahoo
12K+ Oregon taxpayers impacted by Employment Department tax form error
PORTLAND, Ore. (KOIN) – If you're an unemployed Oregonian who has received a tax form from the Oregon Employment Department, you may want to double-check that it doesn't have an error. The OED announced that at least 5% of the forms distributed in January for the 2024 tax year need to be updated — impacting at least 12,000 taxpayers in the state. Amtrak Cascades now down to one train after Horizon fleet taken out of service 'We are very sorry for the inconvenience this caused some people,' OED director David Gerstenfeld said. 'The Employment Department is committed to providing people with accurate information as quickly as possible, which is why our employees are working hard to follow up with each impacted person with more specific information about their situation.' The 1099-G tax form shows how much the OED paid out to those who used unemployment benefits in 2024. However, the use of a new system threw off how these totals are determined. Before 2024, the OED relied upon a legacy system to pay Oregon's unemployment insurance program. The department then switched to its new system, , in March 2024. Here's why Wednesday's weather in Portland failed to turn severe Department officials said the form sent in January did not include both systems. 'This is the first time that 1099-G tax forms were created for the Unemployment Insurance program using Frances Online,' OED said. 'This is the only time that the new system will have to issue 1099-G forms covering payments made from both the new, and the legacy, systems.' OED fixed the error on Monday and created new forms. Those who need a corrected form were contacted via automated message on Francis Online. This follows months of complaints from those on unemployment who claim to have experienced since the website's launch. It also follows Wednesday's announcement that — its highest since 2021 and .4% higher than the national average. Stay with KOIN 6 News as we continue to follow this story. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
