Illustration by J.R. ArebaloTax considerations
New year, new me. That might mean getting prepared when it come to financial responsibilities. One thing each of-age American has in common is taxes. As April 15 approaches, one of the easiest things you can do is set aside a folder for paperwork and forms that will be coming in — either electronically or through the mail — over the next few months. Here's a simple checklist of forms and tax consideration to make sure you have before you file:
  • W-2 forms from your employer(s)
  • Forms from the Credit Union and any other financial institution that show interest and dividend income (forms 1099-INT, 1099-OID or 1099-DIV)
  • Form 1098 from the Credit Union, which shows mortgage interest paid
  • 1099 forms from any freelance or freelance clients
  • IRS Notice 1444 that details how much you received as a stimulus payment — also known as the economic impact payment (EIP) — from the federal government
  • Form 1099-R for income and disbursements from annuities, pensions and individual retirement accounts
  • Form SSA-1099, which includes all Social Security income you madeForm 1040-ES that details estimated tax payments made
  • Form 1099-G that shows any unemployment payments you received
   Discover more details here     Not every individual will receive every form on this list, but it’s good to plan ahead and keep an eye out for these important documents as they come in. Being prepared can lead to a stress-free tax season.

Remember: All Credit Union tax forms will be available online (or postmarked) by Jan. 31, 2022. You can access your forms online by logging into online banking and selecting “Account Services” in the left-hand menu and clicking on “Statements & Notices.” Click on the “Tax Forms” tab to access the forms labeled “Not Viewed.”

—KJ Bannan