Broker Check
Get Your Tax Act Together

Get Your Tax Act Together

January 11, 2024

The IRS processed 262.8 million tax returns during fiscal year 2022. In addition, 58.2 million taxpayers were assisted by calling or visiting an IRS office.

Understandably, the IRS encourages taxpayers to do it right the first time.

Here are some helpful steps you can take this month to start getting organized for the inevitable:

Identify a place to store all important tax documents. This could simply be a file folder or a box, someplace safe where it won't be disturbed or misplaced. If you prefer digital storage, create a folder on your desktop computer (assuming you have a safe, private Internet connection), where you can scan and save every document pertaining to taxes. Realize the dangers of storing personally-identifiable information on a portable device. NEVER use public wi-fi without VPN protection, and closely guard all devices at all times.

Wait to file until you have your tax records including:

Notify the IRS if your address changes and notify the Social Security Administration of a legal name change.

Remember, most income is taxable. This includes:

For even more guidance, check out: