Common Forms and Explanations
Note: The provided deadlines are a general recommendation. They may vary depending on the tax year and could be extended if the deadline falls on a weekend or a holiday. It’s important to consult the IRS website for current and accurate information.
Form 1040
This is the main form used by individuals to file their federal income tax return. It lists all of your sources of income, including wages, salaries, and tips, as well as any deductions or credits you may be eligible for.
The deadline to file Form 1040 is typically April 15th.
Form W-2
This form reports your wages and other compensation from your employer. It includes the amount of federal, state, and other taxes that were withheld from your paycheck during the year.
Your employer is required to provide you with a copy of your W-2 by January 31st each year.
Form 1099-MISC
This form is used to report non-employee compensation, such as payments made to independent contractors or freelancers. If you paid someone more than $600 during the year for services, you must provide them with a 1099-MISC form by January 31st.
The deadline to file this form with the IRS is typically January 31st as well.
Form 1099-INT
This form reports any interest income you earned from a bank account or other investment during the year.
Banks and other financial institutions are required to provide you with a 1099-INT by January 31st.
Form 1099-DIV
This form is used to report any dividends you earned from investments during the year.
Like the 1099-INT, you should receive a 1099-DIV from your investment firm or broker by January 31st.
Form 1099-B
This form is used to report any capital gains or losses you had from the sale of stocks, bonds, or other investments.
Your investment firm or broker should provide you with a 1099-B by February 15th.
Form 1098
This form reports the amount of mortgage interest you paid during the year.
If you paid more than $600 in mortgage interest, your lender should provide you with a 1098 by January 31st.
Form 2441
This form is used to claim the Child and Dependent Care Credit, which allows you to claim a credit for expenses related to the care of a dependent child or adult while you work.
The deadline to file Form 2441 is typically April 15th.
Form 8917
This form is used to claim the Tuition and Fees Deduction, which allows you to deduct up to $4,000 in education expenses for yourself, your spouse, or your dependent children.
The deadline to file Form 8917 is typically April 15th.
Form 4868
This form is used to request an extension of time to file your federal income tax return.
It must be filed by the original due date of your tax return (typically April 15th), and it extends your filing deadline for an additional six months, to October 15th. However, it’s important to note that an extension to file does not mean an extension to pay any taxes owed.