The information in this article is up to date for tax year 2024 (returns filed in 2025).
Filing your own taxes doesn’t have to be a nightmare. It can be fast and easy if you’re well prepared. A tax prep checklist is a great way to ensure you file an accurate tax return and maximize your refund. By gathering the right tax documents ahead of time, you’ll be able to take full advantage of tax credits and deductions while avoiding common mistakes. To make tax season easier, we’ve put together a simple tax prep checklist to help you stay organized and confident.
Personal information required for tax filing
To get started, make sure you have all the necessary personal information for yourself, your spouse, and any dependents. These tax documents are important for verifying your identity and ensuring your tax return is processed without delays.
- Social Security Numbers (SSN) or Individual Taxpayer Identification Numbers (ITIN)
- Birthdates for you, your spouse, and dependents
- Driver’s license or state-issued ID for you and your spouse
- A copy of last year’s tax return
- Routing number and account number for direct deposit of your refund
Gather your income tax documents
Gathering all your income-related tax documents sets the foundation for a solid tax return. Get it right, and the rest will fall into place! Almost all income is taxable unless the IRS specifies otherwise. That’s why it’s important to have all the tax forms and supporting documents that outline your taxable income for the year. Make sure you collect the following income tax forms and documents:
- W-2 forms for you and your spouse (for wage income)
- 1099-C forms for cancellation of debt
- 1099-G forms for unemployment benefits or state/local tax refunds
- 1099-INT, 1099-DIV, and 1099-B forms for interest, dividends, and investment income
- 1099-K forms for business payments (if you’re self-employed or have a side gig)
- 1099-MISC for miscellaneous income
- 1099-NEC for independent contractor or freelancer income
- 1099-R forms for retirement plan distributions
- SSA-1099 for Social Security income
- Income from alimony received or paid
- Business income and expenses (self-employment, freelance, or small business owners)
- Rental property income and associated expenses
- Miscellaneous income such as jury duty, gambling winnings, prizes, or scholarships
Tax-deductible expenses you may be eligible for
To reduce your taxable income, keep track of your deductible expenses. These can include things like education costs, medical expenses, and charitable contributions. Add these common deductible expenses to your tax prep checklist:
- Mortgage interest (Form 1098)
- Student loan interest (Form 1098-E)
- Tuition payments (Form 1098-T)
- Federal and state estimated tax payments
- Medical and dental expenses, including medical mileage and long-term care health insurance
- Real estate and personal property taxes
- State and local taxes
- Charitable donations (cash and non-cash), including donation mileage
- Casualty and theft losses (for federally declared disasters)
- Gambling losses (up to the amount of winnings)
- Childcare costs, including care provider information
- IRA contributions and other retirement savings
- Energy-efficient home improvement expenses
- Classroom supply receipts (for K-12 educators)
- Moving expenses (for active military members only)
Health insurance forms for filing your taxes
If you got health insurance coverage through the marketplace, your tax return will need the following:
- Form 1095-A: Health Insurance Marketplace Statement
- Form 1095-B or 1095-C: Health insurance verification forms
Stay updated on tax law changes and available tax credits
Tax credits directly reduce the amount of tax you owe. Popular tax credits include:
- Earned Income Tax Credit (EITC): Designed to benefit low to moderate-income workers.
- Child Tax Credit: Helps families with children under 17, providing substantial financial relief.
- Energy Efficient Home Improvement Credit: For homeowners who made qualifying home upgrades such as energy efficient doors, windows and heat pumps.
- Clean Vehicle Credit: Available for drivers who purchased a new or used qualified electric vehicle.
Some tax laws and credit amounts change yearly. So, check the official IRS website or the ezTaxReturn blog for the latest updates. Being aware of tax changes can help prevent mistakes and potentially increase your savings.
E-filing vs. Paper filing: Which is better?
Both e-filing and paper filing have pros and cons, but e-filing is typically the better choice for most taxpayers:
- E-filing: Faster processing times, reduced chance of errors, and greater security.
- Paper filing: Slower processing and higher risk of lost returns, but some people prefer it for record-keeping.
How to choose the right tax software for you
Believe it or not, filing your own taxes isn’t as hard as you think. It’s your best bet if you have a straightforward tax situation and want to save money. Using tax software can make the process much easier. When choosing tax software, look for one that:
- Is user-friendly and maximizes your tax deductions and credits
- Guarantees accurate calculations
- Provides e-filing options for faster processing
A great choice is ezTaxReturn, which offers an easy-to-use platform for filing your taxes quickly and accurately.
When to seek professional help
There are certain situations where hiring a tax professional is a good idea, including if:
- Your financial situation is complex
- You are self-employed or a business owner
- You’ve experienced significant life changes (e.g., marriage, divorce, inheritance)
File your taxes accurately and on time
Before submitting your tax return, take time to review it for mistakes. Use this checklist:
- Verify personal information (name, Social Security number)
- Double-check income figures from W-2s or 1099s
- Confirm all deductions and credits are correctly claimed
Understand tax penalties and extensions
Remember, your taxes are due on April 15th, unless it falls on a weekend. Late filing or inaccurate returns can lead to penalties and interest. If you can’t file on time, apply for an extension, but keep in mind that any taxes owed are still due by the original deadline.
Tracking your tax refund
After you have filed and your tax return has been accepted, you can begin tracking the status of your tax refund. Use the IRS “Where’s My Refund?” tool for the latest updates. Your refund status will appear:
- 24 hours after e-filing
- 4 weeks after you’ve paper filed
Keep your tax documents safe and sound
To keep your tax documents safe, store copies of your tax return and supporting paperwork in both physical and digital formats. It’s a good idea to hold on to them for at least three years, just in case you need them later. Here are some tips for organizing and storing your tax documents.
- Set up a filing system: Use physical folders, binders, or digital storage to organize your tax documents.
- Label sections clearly: Categorize receipts, W-2s, 1099s, and other important forms for easy access.
- Sort documents by type or date: Organize your tax documents chronologically or by expense type to streamline the process.
- Review and update regularly: File new documents immediately to avoid losing them.
- Maintain digital backups: Scan physical documents or save files to the cloud for secure storage.
Grab your tax prep checklist and file your taxes with ease
Navigating taxes doesn’t have to be overwhelming. By following this tax prep checklist, you can avoid costly mistakes and file your taxes accurately and on time. Preparation is key to a stress-free experience.
Ready to get started? File your taxes online with ezTaxReturn for a fast, easy, and stress-free filing experience.
The articles and content published on this blog are provided for informational purposes only. The information presented is not intended to be, and should not be taken as, legal, financial, or professional advice. Readers are advised to seek appropriate professional guidance and conduct their own due diligence before making any decisions based on the information provided.
