Over the years, we’ve learned a lot about what the IRS looks for on your tax return. We put together the list below for our clients to help them avoid the pitfalls of missing or inaccurate information that can delay tax returns by 6 months or more. Especially during the continuing pandemic at the time of this posting, since the IRS is working with limited staffing, you’ll want to make sure the information you provide is accurate and complete. We encourage you to “check off” the items on the list before submitting your tax paperwork to ensure a smooth and efficient filing!
| 1 | STIMULUS PAYMENTS If you received a stimulus payment in 2020 and January 2021 your tax professional needs to know the amount of the payment you received. $________________ This payment is not taxable but the amount must be reconciled on your tax return. |
| 2 | UNEMPLOYMENT If you collected unemployment benefits in 2020 you will receive a 1099-G form in the mail in by January 31, 2021. We have included an image of the 1099-G form below for reference. FRAUD ALERT for Massachusetts residents: If you receive a 1099-G form and did not collect unemployment benefits please contact the Massachusetts Department of Unemployment Assistance (DUA) at 617-626-5647 immediately! Likewise, if you did receive unemployment benefits and do not receive a 1099-G form, again, you will need to call MA DUA at 617-626-5647. |
| 3 | ESTIMATED TAX PAYMENTS If you made estimated tax payments in 2020 please provide your tax preparer copies of the cancelled checks. We have seen issues this past year with these checks not being cashed, and not being applied properly. If we have copies of the cancelled checks we can speak with IRS on your behalf to resolve any issues that may arise. |
| 4 | FORM 1095A (Health Connector for Massachusetts Residents) If your health insurance is through the Massachusetts Health Connector please provide your 1095A. This form will be mailed to you by January 31, 2021. If your insurance is through the health connector, IRS will not process your tax return and delay your refund. Please see a copy of the 1095A form below for reference. You can also obtain your form online at welcome to health connector | health connector (mahealthconnector.org) |
| 5 | RENT PAYMENTS DURING COVID If you paid rent in the last calendar year please indicate the total rent you paid in 2020 $____________. |
| 6 | NEW BABY IN 2020? Congratulations! Please make sure to provide the baby’s date of birth and social security number. This information is necessary to determine if you qualify for an additional stimulus payment, as well as the normal credits for a child. |
| 7 | DEPENDENT CHILD FILING HIS OR HER OWN TAXES THIS YEAR? Tax preparers need to know if you have dependent college-age kids who are filing taxes and “claiming” themselves under their Social Security Number. This will trigger the IRS to disable your ability to e-file your own return, forcing you to file on paper and have your return delayed by as much as 6 months. |
| 8 | PERSONAL CONTACT INFORMATION Have you changed addresses, phone numbers, e-mail addresses, or jobs since last year? Make sure your tax preparer has your up-to-date information! |
Below is an example of Form 1099-G. Individuals who collected unemployment in the last year should receive this form in the mail by January 31, 2021, and must include it with their tax paperwork. Please note: This is for reference purposes only and cannot to be downloaded, reproduced, or used for filing.
Below is an example of Form 1095-A. Individuals who are insured through the MA Health connector should receive this form in the mail by January 31, 2021, and must include it with their tax paperwork. Please note: This is for reference purposes only and cannot to be downloaded, reproduced, or used for filing.
