Frequently Asked Questions for Taxes

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Typically, the tax filing deadline is April 15th. If the 15th falls on a weekend or holiday, the next business day would be the tax deadline.

Important Note: If you have an S-Corporation or Partnership, your tax deadline is always the month before, on March 15th with weekend and holiday rules also applying to this deadline.

Tax season does not start until the last week of January. Most, however, do not get all of their documents until the first week of February; therefore, most people start filing within the first and second weeks of February.

Companies must send out 1099's and W-2's by January 31st of every year.

• W-2: If you are on payroll, your employer(s) will send this form to you showing your total wages earned and what taxes were withheld.
• 1099-NEC: If you are not on a payroll, but did work for a company as a subcontractor, you will receive this showing the total money earned from each company you did work for.
• 1098: This form is sent to you from your mortgage company if you own a home and still owe a mortgage. This will show how much you paid in interest and typically how much was also paid in property taxes.
• 1099-R: If you withdrew money from a retirement account, whether it was for your use or for a rollover, you will receive this form showing how much was withdrawn and if it taxable or not.
• 1099-G: This form is sent to those who may have received payments from some governmental institution. Typically, this is sent to those who receive unemployment.
• 1095-A/B/C: This form is sent to you showing the required information regarding your health insurance. For those in the Commonwealth of Massachusetts, you will also receive a 1099-HC.
• 1098-T: If you are a college student, your university will send you this form showing how much you paid in tuition for the tax year.
• 1098-E: Those who pay student loans will receive this form showing the amount of interest paid throughout the year.
• 1099-INT: If you earn interest from a bank over the minimum threshold, you will receive this from them showing the total interest you earned.
• 1099-B: Those who receive this form are those who have an investment account that had sales of assets throughout the year.
• K-1: If you are a part owner of an S-Corporation or a Partnership, you will receive this form showing how much of that businesses income or loss is reported to you and any other relevant information that will be transferred to your personal tax return.