IRS Requirements for Receipts

IRS Requirements for Receipts

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Tax deductions are a big deal to both the Internal Revenue Service (IRS) and the individual. Taxpayers often consider the requirement of paying personal income taxes to be an onerous burden that can be greatly mitigated through the use of deductions. In recognition of this fact of life, the IRS has established a standard of proof of claimed deductions known as “adequate records.” Deductions are normally allowed without question as long as adequate records are maintained to prove each deduction’s legitimacy. Read more →

What types of educational expenses are deductible?

What types of educational expenses are deductible?

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Some of the educational expenses you can deduct from your taxes are what you pay for tuition, costs of books and supplies, any laboratory fees you have and other items that can be considered necessary for your education. Expenses you incur for transportation and travel to attend your required classes are also deductible.

If you already have some type of degree and your employer has required you to improve your education, or if you need to take courses to improve your current skills, these are also deductible educational expenses.

How to Request a Copy of My W-2 Tax Returns

How to Request a Copy of My W-2 Tax Returns

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All taxpayers who were classified as employees of any kind during the year must report the income that is shown on their W-2 Forms. This form is mailed to all employees during tax season so that they can file their taxes. Independent contractors do not receive this form.

  1. Give your employer at least a couple of months after the end of the year to mail you your W-2 form. If you have not received it by then, contact your employer and ask if your form has been sent yet. Your employer may also schedule a later date, such as March 15, to send out its W-2s.
  2. Contact your manager or HR department if you have received your forms and lost them. They can reissue you copies of your W-2 forms and mail them to you. However, you may not get them until after April 15, thus requiring you to file for an extension on your return with the IRS.
  3. Log on to your employer’s website if they have one and download your W-2s from the site if they are available. You may need to enter a user ID and password in order to access your forms.
  4. Contact the IRS to request copies of past W-2s for tax returns from previous years. The agency will have the information from your W-2s on file, but not a copy of the form itself.
  5. Create a substitute W-2 if you are unable to obtain a copy of your original form from your employer. The IRS will accept this as legitimate; however, you will not get a rapid tax refund if you do this.