The spring season is full of wonderful things! Longer days are ahead, flowers are in bloom, and tax season is upon us. Wait, what was that last one again? That’s right, while many people are thinking about taking walks outside and what they can plant in their garden, we at Gecinger Tax & Accounting are spending our time reviewing IRS tax forms and looking at new tax laws we can use to the advantage of our clients! If you are newly married, newly single, a new business owner or new to filing taxes on your own, here are a few IRS tax forms that you need to be aware of as a beginner.
- Form 1040- This is the standard of IRS tax forms that need to be filed by individuals every year. While there were once different versions of this form, some longer and some shorter, it is now just the one form.
- W-2- When you are hired for a job of most any kind, your employer will fill out a W-2. This shows the government how much you were paid so that they are able to determine if there is an inconsistency when you file your earnings.
- Schedule A (through Schedule D)- These various forms are each for their own individual purpose from itemizing deductions (Schedule A) to reporting income you might have received from freelancing work or a side gig (Schedule C). Each Schedule form has its own purpose, so familiarizing yourself with these can help you in tax filing.
These are just some of the IRS tax forms you should be aware of. If you have questions or concerns about IRS tax forms, please contact us here at Gecinger Tax & Accounting today.