By now you are likely accumulating your tax forms. If you are an employee you should receive a W-2. If you have worked on contract you should receive a 1099 from each firm or individual. (Interest and royalties that you earned need to be reported, too. )
You should receive 1099 forms from your banks, investment firms, agencies and publishers (if applicable) within the next week. The due date to send or publish these forms is tomorrow: January 31. The tax filing due date for individuals is April 15; for corporations it is March 15.
If you have investments, you will probably receive a 1099-R later in February when the investment houses have altered their gains, losses, and interest calculations. No investments? Then you should be ready to go if you have all of your forms.
What if I cannot afford a CPA?
CSUN accounting students offer FREE tax preparation assistance! Low income individuals and families in the San Fernando Valley area including non-English speakers and the disabled are welcome. The assistance is supervised by IRS employees.
To get more information visit the VITA WEBSITE and keep your money!
Source: CSUN SHINE
Author:Robin Yerian. Robin studies Marketing and Business Administration at California State University, Northridge. She has received an honorable mention for her secondary research regarding the millennial generation in association with the national American Marketing Association case competition for eBay in which she provided consumer insights. Robin is the student assistant responsible for managing client relationships, communications, and social media for the Wells Fargo Center for Small Business & Entrepreneurship at CSUN.