IRS TAX FORMS
There are many different kinds of tax forms. Depending on what is being accounted for with your personal or business tax return, will determine which forms you need to file each year with the IRS. There are also many forms for businesses that correspond with many tax purposes.
Some of these forms can be confusing to fill out and if not done properly and on time it could take a lot of resources, penalties, and time to correct. Many people and small businesses have to fill out more than one form. The tax professionals at Numerico PC have the experience and know-how to help you locate, fill out, and file the appropriate and applicable tax forms.
Some of the most common forms are:
Form 1040 this form is the basic form for your personal income taxes.
Form W-2 If you are employed by an employee they would need to give you this form at the end of the year listing how much you were paid all year. It would also show the federal, state, and local taxes that were withheld from you.
Form W-4 You will fill this out when you begin a new job. It records for human resources how much to withhold from your paycheck and how many you are claiming as qualified dependents. If things change in your familial status such as getting married or having a baby you may need to have this form updated.
Form 1098 This is a form for tax deductions which include mortgage interest, student loan interest, and tuition.
Form 1099 This form reports all kinds of income that doesn’t go on other designated forms. Independent contractors and lottery winners will both receive one of these. You’ll also get one for withdrawing money from a retirement account, having a debt canceled, or making a profit on a home sale.
There are many other forms that may need to be filed on your behalf. The tax professionals at Numerico PC are experts at tax planning and filing and will consult with you to know exactly what you need to file. You can trust that no stone will be unturned when you consult with Numerico PC and hire them as your tax and financial professional. With a home base in Livonia, Michigan but hundreds of satisfied clients in Ann Arbor, Auburn Hills, Northville, across many states, and even internationally – you know you have hired the best team to represent you!
