We’ve seen a lot of interest by expat taxpayers hoping to file their taxes as early as they can.
Some hope to take advantage of deductions and taxes they were forced to pay ahead of time over the year and look forward to getting their refund soon after the IRS begins processing returns for 2017 on Jan. 29. Others seek clarity about what they might or might not owe in the wake of the new tax law. There are other reasons why you might want to file your taxes as soon as you can — as we recently showed, it can even make you richer.
However, regardless of why you might want to get an early bird jump on filing your taxes, you will need a few things to get started:
-Your most recently filed tax return (both Federal and State) (if not prepared by us)
-Form W-2(s) or foreign equivalent of salary statements (if available), showing all taxable wages and foreign income taxes paid, preferably government or company issued documents;
-Form 1099(s) or foreign equivalent showing other income from non-salary sources, e.g. dividends, interest etc., preferably government, or company issued documents;
-Form 1098-E, from student loans if any;
-Information on transactions that may have incurred capital gains/losses e.g. sale of real estate or securities;
-Any other tax documents that may be applicable.
Since collecting these forms and information may obviously take some time, we suggest starting now or as soon as you can. Trust us when we say you will be glad you did.
Have any questions? A friendly, informative, and efficient tax preparer is just a click away.