Important Tax Return Reminder

by P.J. DiNuzzo                                                                                                January 18, 2019

Important Tax Return Reminder

Recommendation:

(File your tax return as late as possible due to late arriving 1099s, but still deliver tax information to your tax preparer as early as possible so they can start tax return preparation)

* Initial 1099s will be issued by Fidelity Investments, TD Ameritrade and Charles Schwab & Company and should be received by late February, 2019.

* Most mutual fund companies have been reissuing 1099s and mailing them to investors in February, March, and April.

* The longer you wait to file your taxes, the lower the chances are that you may have to amend your return due to the revised 1099s.

* File your return as close to April 15th as possible or at least wait until late March/ early April.

* Even though 1099s and revised 1099s are being mailed out to investors late in the tax season, we still advise you to contact your tax preparer early and provide them with as much tax information as possible so they can start your tax return preparation and not be rushed at the end of the tax season.

* This information applies to taxable accounts such as individual, joint, and joint tenants with rights of survivorship.  It is not applicable if the ONLY accounts in which you own mutual funds are IRAs.

Sincerely, 

P.J. DiNuzzo, CPA, PFS , AIF®, MBA, MSTx
President, Founder, and Chief Investment Officer