Tips for Tax Procrastinators: Get copies of the documents you've lost

You've lost your tax documents. Now what? Call the companies that issued them and have them send you copies. It's really not that hard, and while it's a bit of an inconvenience for the company, they're usually able to do it quickly. But the sooner you call, the sooner you'll get the copies.

This goes for your W-2s, your 1099s for interest, dividends, pension income, or subcontractor income. You can also call your mortgage company to get a copy of your 1098 for mortgage interest, and contact your local government about the property taxes you paid.

Obviously, losing these items makes preparing your taxes a bit more difficult, but they're not impossible to replace. Remember that the burden of proving your income and deductions rest on you, the taxpayer. If the IRS ever questions or audits your tax return, you must prove the numbers to them. That's why it's important to hang onto copies of all your documentation.

Read more Tips for Tax Procrastinators

Tracy L. Coenen, CPA, MBA, CFE performs fraud examinations and financial investigations for her company Sequence Inc. Forensic Accounting, and is the author of Essentials of Corporate Fraud.

How Bonuses Are Taxed

Working hard all year to help your company meet its annual goals deserves a reward, and you've definitely earned that bonus. But bonuses count toward your income for the year, so they're subject to income taxes. Read on to learn how much tax you can expect to pay on your bonus—and for tips on reducing your tax liability.

Read More

Brought to you by TurboTax.com

Tax Reform Changes That Impact Your 2018 Taxes

With all of the buzz about the new Tax Reform many taxpayers are questioning how this will affect their 2018 tax return. These provisions kicked in on January 1, 2018, which means that they will impact your 2018 tax return.

Read More

Brought to you by TurboTax.com

2018 Tax Reform Impact: What You Should Know

Congress has passed the largest piece of tax reform legislation in more than three decades. The bill went into place on January 1, 2018, which means that it will affect the taxes of most taxpayers for the 2018 tax year.

Read More

Brought to you by TurboTax.com

Video: What Are Income Taxes?

Income taxes are a percentage of money that you pay to the government based on every dollar of taxable income. Learn about income taxes with help from TurboTax in this video on tax tips.

Read More

Brought to you by TurboTax.com
Read Full Story