Tax Day is rapidly approaching, so if anyone has yet to file their income taxes for 2018, sooner is better than later.
Jordan Pope, Senior Tax Analyst and Marketing Director for the Adel and Winterset H&R Block, says there have been a lot of changes to the tax code to keep in mind this year. However, things that have not changed include documents you need to utilize when preparing to file. Pope says that typically starts with a W-2, though there are many other important forms. “You know, there’s no such thing as too much information. We’ll decipher it at the tax desk and decide. The worst feeling ever is you know we get in there and we ask you a question and you’re like, ‘Oh yeah, I think I got something about that, I didn’t know if I needed to bring it or not.’ So the good rule of thumb is if it says, ‘Important Tax Document’ on it, it’s probably important, you should use it with your tax preparation.”
Pope adds, another good rule is if you made money in some capacity in 2018, you will need a document that details that income when filing taxes. Other things people sometimes forget to bring are mortgage interest payment statements, property tax documents, and student loan payment history. Pope also reminds people they can file an extension on their taxes if needed, but emphasizes that if you owe money to the Internal Revenue Service (IRS), payment is still required by the filing deadline of April 15th.
To learn more about filing taxes, click the link below to listen to the Health and Wealth In-Depth program with Pope.