It is still more than three months away, but Tennesseans are being urged to spend a little time now to get ready for the upcoming income tax-filing season. NewsRadio WGNS' John Michaelson has more...
Luis Garcia, a spokesman for the Internal Revenue Service, says by locating and organizing all your important tax documents early in the process, you won't be scrambling to find them when the April 15 deadline is looming.
"That means if you've got Form 1099s from your bank, or you have your W-2 from your employer, you want to make sure that all those documents end up in the same place," he advises. "Now, whether it's a shoebox or a folder - that's really the most important thing."
More detailed information, forms and publications are online at IRS.gov.
Garcia also notes this is the first tax season in which the Affordable Care Act figures heavily, which could mean a little extra paperwork for those who gained coverage.
"The people who purchased health insurance, they want to be on the lookout for Form 1095A," he points out. "And that's the form that you're going to use to make sure that you get the credit that you need, in order to make sure that you're getting your health insurance covered properly."
Garcia adds there also is a form to fill out for anyone who received an exemption to the health insurance mandate for 2014.