In the previous blog of the series, we discussed the tips to prepare for the tax season better.

Tax season is here, and you may start feeling overwhelmed thinking about the calculation of tax payment, refund, and all the paperwork. While accountants can help you sort and summarize, it is easier if you do that part beforehand.


If you’re like most people who pay others to file their taxes, then there is a probability that you’ve visited your accountant’s office more than once just because you did not remember some documents. Since you need to prepare taxes only once a year, Ace Cloud Hosting has put together a list of documents that you need beforehand.

Steady your nerves with the checklist below that will help you prepare your tax return with an organized plan of attack.

Documents for identification

IRS needs to know who is covered in your tax return. It’s always good to keep some identification, even if you are going to the same tax preparer. You should also keep social security cards of your spouse and dependents.

  1. Your social security number and dates of birth for you, your spouse and dependents
  2. Tax return copy of last year for you and your spouse

Proof of income

The tax return of your income should reflect all your income and not what you remember or most of it. This is important as any income which is missing in your return may result in penalties. Here are some of the overlooked income sources that are required while preparing tax return:

  1. Employment income – W-2 forms for you and your spouse
  2. Investment income – forms 1099 (DIV, INT, K, LTC, PATR etc.), K-1s
  3. Alimony received
  4. Social security benefits – form SSA-1099
  5. Last year installment sale information – form 6252, SSN, interest collected and address of payer
  6. Rental property income or expense
  7. Income from refunds and unemployment – form 1099-G
  8. IRA/pension distribution – form 1099-R, 8606
  9. Income from sale of property – form 1099-C
  10. Business or farming income – profit/loss statement
  11. Miscellaneous income including jury duty, lottery winnings

Expense-related documents

Most of the time people don’t list their returns and do not bring proof of expenditures, which is not a good practice. Any deductible expense which is greater than usual deduction can increase the amount of your refund or reduce the amount of taxes you owe.

Expenses which can reduce your tax burden are:

  1. IRA contributions
  2. Medical expenses
  3. Union dues
  4. Charitable contributions
  5. Student loan interest
  6. Self-employed health insurance payments
  7. Energy credits
  8. Alimony paid
  9. Moving expenses
  10. Mortgage interest

Taxes paid by you

If there are taxes you have already paid, take these documents as they can prevent you from overpaying:

  1. Local and state income tax paid
  2. Vehicle license fees
  3. Personal property tax paid
  4. Real estate tax paid

Tax preparation for direct deposit

If you want to get tax refund directly into your bank account, you need to provide these two things:

  1. Your bank account number
  2. Your bank’s routing number

Proof of losses

Natural disasters, theft, fire or any such unexpected events may lead to losses in business. Take the proof of events in the form of insurance claims, police report or any other official documents. If you have received a partial amount from insurance or disaster relief, take those documents as well.

File your taxes

Having the right documents would help your accountant focus on specific requirements of your business. It reduces the amount time taken to prepare a tax return and make the annual meeting more productive. Your accountants can also alert you beforehand if any document is missing or incomplete.

This checklist should help you get organized before filing your income tax return. You will find it easier and a lot less stressful if you have all the necessary documents sorted in first place.

Wrapping Up

As we move further in our tax season blog series, we will come up with the solutions that protect your tax filing process. You can subscribe to our blogs and receive updates in your email inbox when we publish tips to help you stay safe during this tax season.

We would like to receive your opinions on our blog series. Please share your feedback in the comments below. If there is any other query related to hosting of tax software or accounting applications, you can connect with our hosting engineers now.

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