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Tips for the 2019 Tax Season

Posted by Team HFM on January 18, 2019

  1. Be sure you have all your tax reporting documents such as 1099s and W-2s before you file your tax return. Most 1099s will be distributed between early February and mid-March. Doing so helps prevent having to file an amended return.
  2. If you own an MLP (Master Limited Partnership) you also will need to wait to receive a K-1. These are distributed mid to late March.
  3. Talk to your accountant about making any appropriate contribution to your IRA or Roth IRA, if applicable, by the April 15th deadline.
  4. Be skeptical of emails requesting personal information from you. Do not give it out! An urgent tone is another red flag of scams. If you get an email (or call) requesting information or urging action, leave the email or call without interacting with it in any way or using any contact information given in it. Instead, use another source to look up a correct website or phone number, and go directly to their website or call to inquire. This includes emails that convincingly appear to be from the IRS, your bank, your state, or your insurance or investment account companies. NEVER click on a link in any email without confirming its legitimacy.