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Tax Client Checklist
Tax Filing & Financial Verification Document Checklist
Ensure that you have all the necessary documents for your tax filing or financial verification process. Below is a comprehensive checklist:
1. Federal Tax Documents
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W-2 (Wage and Tax Statement)
Purpose: Reports wages earned from an employer and taxes withheld.
Action: Collect W-2 forms for each job worked during the year. -
1099-G (Certain Government Payments)
Purpose: Reports government payments like unemployment benefits or state/local tax refunds.
Action: Gather 1099-G if applicable (for unemployment or government-issued payments). -
1099-NEC (Nonemployee Compensation)
Purpose: Reports income earned from freelance, contract, or self-employed work.
Action: Collect 1099-NEC forms from clients or businesses for non-employee work. -
1098-T (Tuition Statement)
Purpose: Reports tuition and education-related expenses.
Action: Ensure the 1098-T form from your educational institution is included.
2. Self-Employment Documentation
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Summary of Income & Expenses (Self-Employed)
Purpose: Breaks down your income and business expenses for tax purposes.
Action: Prepare a profit & loss statement showing all income and expenses related to your business or freelance work.
3. Dependents Documentation
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Dependents' Birth Certificates & Social Security Cards (SSC)
Purpose: Verifies the identity and age of dependents for tax claims.
Action: Gather copies of each dependent's birth certificate and Social Security card. -
Proof of Residency for Dependents
Purpose: Confirms the residence of dependents at a specified address.
Action: Provide documents such as lease agreements or official mail showing your dependents’ address.
4. Residency Verification
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Utility Bill
Purpose: Verifies current residency at a specific address.
Action: Obtain a recent utility bill (electricity, water, gas, etc.) showing your address.