What Documents You Will Need To File Your Tax Return

This is the time of the year when US tax payers are preparing to get their tax return process with hopes of getting back some money or to reduce the amount of money owed to the IRS.

Many of the documents that you will need will depend on the number of tax credits and deductions that the tax payer qualifies to receive.

Your tax preparer should provide a list of tax credits and deductibles that are available in 2011. It is important to get all your tax returns papers in a box or envelop. Double check to see if you have all your documents to avoid going back and forth with your tax preparer.

Including in your documents should be the previous year state and federal W-2 forms and tax return. First, get you Social Security number and that of your spouse and dependents.

These are crucial as the IRS will not process a tax return without the right SSN.

You will also need the Driver licenses ID for both you and your spouse if filing jointly. In addition, if you and your spouse a filing jointly both of you will need to sign the tax return for the IRS to process it.

Get copies of form 1099 for other income such as retirement, social security, unemployment, dividends / capital gains and self employment.

If you are self employed you may have to file a Schedule C as well.tax return 1099

Letters from the IRS regarding garnishment of wages, documents in regard to alimony, mortgage taxes, medical and non profit mileage logs, receipts for repair on your home, receipts for purchase of new car, receipts for gas and business meals (if you have a business), receipt for child day care, tuition expense or statement (1098T) or document indicating interest paid on student loan (1098E), bills paid in regard to vehicle tag fees, charitable contribution, property tax and other documents that are vital to filing your tax return.

If you invest in the stock market you will get a Consolidated Form 1099 from your brokerage or investment banker. You will have to pay roughly a 15% tax rate on dividends and other gains.

Good luck. If you are prepared you are half way there to a good tax return

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