Get Ready for Taxes: Steps to Take Now to Make Tax Filing Easier in 2021
We want to help taxpayers get ready for the upcoming tax filing season. A special page, updated and available on IRS.gov, outlines steps taxpayers can take now to make tax filing easier in 2021.
Most income is taxable
Taxpayers should gather income documents such as Forms W-2 from employers, Forms 1099 from banks and other payers, and records of virtual currencies or other income. This also includes, unemployment income, refund interest and income from the gig economy.
In 2020 individuals may receive Form 1099-NEC
Nonemployee Compensation, rather than Form 1099-MISC, Miscellaneous Income, if they performed certain services for and received payments from a business.
Taxpayers may also need Notice 1444, Economic Impact Payment
People who receive an Economic Impact Payment this year should keep Notice 1444, Your Economic Impact Payment, with their tax records. This notice provides information about the amount of their payment, how the payment was made and how to report any payment that wasn't received.