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2 Tax-Filing Reminders Before You File Early

Investing Taxes

A 20-second read by Nicholas Scheibner, CFP®:  As you prepare to file your 2021 taxes, especially if you are thinking of filing your taxes early this year, keep in mind the following:

  1.  It is important to wait for all of your tax documents to arrive before filing.  This is especially true for investment accounts in which 1099’s are received.  If you have received “corrected 1099’s” in the past, you may choose not to file early to avoid the potential need for an amended return.  Some of these forms come in late February or March.

  2. For 2021, you will be asked how much in “Economic Impact Payments” you received.  This is the Covid-19 pandemic stimulus payment you might have received from the government. Not everyone was eligible for a stimulus payment. 

As always, please reach out to your tax-planning professional for advice for your specific tax situation.

Contact your Baron Team for more information on how we can help you with financial planning and investment advice.    

Disclosure: This is a general communication being provided for informational purposes only.  This material is not intended to be relied upon as a forecast, research, tax or investment advice.