Typically, financial institutions must provide these forms to customers and the IRS by February 28.3 The exception is Form 1099-MISC, which is due by January 31 if it includes non-employee compensation in Box 7. If the regular due date falls on a Saturday, Sunday or a legal holiday, the form is due on the next business day. If you haven't received an expected form a few days after the filing date, contact the issuer.
What other documents might I receive?
Homeowners may receive Form 1098, which lists mortgage interest paid during the year. Mortgage interest on debt less than $750,000 is tax-deductible for those that itemize their taxes.4 (Up to $1 million may be deductible for homes purchased before December 16, 2017, or were under binding contract before December 15, 2017 and closed before April 18, 2018.)5 Any real estate property taxes paid through an escrow account will also be listed on this form.
If you own an Individual Retirement Account (IRA), you'll likely receive Form 5498, which reports total annual contributions made to a traditional, Roth, SEP, or SIMPLE IRA.
How long do I need to keep a record of my tax filing?
Whether you file online, through a tax professional, or via a paper form, the IRS guideline is to hold on to your return, records, and receipts for at least three years but for as long as seven if your return includes unusual activity, such as a loss for a bad debt reduction or from worthless securities.6
I'm getting a refund. How can I have the cash deposited into my bank account?
Direct deposit is easy to set up for tax filers. All you'll need is your bank's routing number (the first nine digits listed on the bottom of your checks) and your account number (the second set of numbers listed at the bottom of your checks). The direct deposit option is available through your tax software — or via Form 8888 if you're not filing through a professional preparer.7