Missing Forms

Here we are on the doorstep of April. If at this point you haven’t started to think about taxes, it is probably too late to get things done by the April 15 deadline. That doesn’t mean we should just push discussion about them off to the side, though, for a return is still something you are going to have to complete.

If you find yourself in this situation, the first step should be to get an extension. It is not something you have to work hard to achieve and is a reprieve that moves your filing deadline six months to October 15. Please note, though, it gives you extra time to file but does not give extra time to pay taxes owed. That means interest and penalties on what is owed can still start to accrue on April 15.

So if you expect to owe money to the IRS once your tax return is completed – getting this done as early as possible is in your best interests.

Many people end up putting off finishing their tax return because they are missing some documents. It could have been two months ago at this point when one thought “I’ll get going as soon as (this form) comes in.” Then it never did, so you never got started, and suddenly it’s April.

There are many reasons why you may not have received a form, and it can be as simple as it got lost in the mail.  It is a classic punchline excuse, but that doesn’t mean it never actually happens. The easiest way to fix this could be to find the missing form online. If it’s a W2, many payroll providers will have a portal where an employee can get information and forms. Many other types of companies – banks, student loan providers, mortgage providers, etc. – likely have this information available online, as well. You can go from not having the information to being all set in minutes this way.

If you can’t do that, though, you should make a phone call to the issuer of the form. I know this is no one’s preferred mode of communication any longer, but the sooner you get it done, the quicker you can start moving on. You don’t want to wait until some forms start being filed away and company efforts move into other realms as tax season comes to a close.

Not that people are looking forward to that or anything.

Warmly,

Josh Bousquet
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