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ACCOUNTING AUDIT TAX ADVISORY

STAY AHEAD OF THE GAME: KEY TAX

DEADLINE AND STRATEGIES FOR 2024

2024 Tax Filing Season Begins - Deadlines for Tax Exempt Organ…
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Welcome to the 2024 tax season! As we approach January 29th, the start of the e-filing season, it’s time to focus on efficient and stress-free tax filing.

We are committed to guiding you through this process, ensuring a smooth experience. Our team is here to manage your financial responsibilities with expertise and
care, making tax filing straightforward and worry-free.

Forms to Expect by the End of January or the Beginning of

February
 1. Form W-2G: For reporting gambling winnings.

2. Form 1099-C: For reporting debt of $600 or more canceled by certain financial entities including financial institutions, credit unions, and federal government agencies.
3. Form 1099-DIV: For reporting dividends and liquidating distributions.

4. Form 1099-G: For reporting certain government payments, including unemployment compensation and state and local tax refunds of $10 or more.

5. Form 1099-INT: For reporting interest, including interest on bearer certificates of deposit.

6. Form 1099-K: For reporting payments received from a third-party settlement entity.

7. Form 1099-LS: For reporting reportable policy sales of life insurance.

8. Form 1099-LTC: For reporting long-term care and accelerated death benefits.

9. Form 1099-MISC: For reporting royalty payments of $10 or more, rent or other business payments of $600 or more, prizes and awards of $600 or more, crop insurance proceeds

of $600 or more, fishing boat proceeds, medical and health care payments of $600 or more.

10. Form 1099-NEC: For reporting nonemployee compensation.

11. Form 1099-OID: For reporting original issue discount.

12. Form 1099-PATR: For reporting taxable distributions received from cooperatives.

13. Form 1099-Q: For reporting distributions from 529 plans and Coverdell ESAs.

14. Form 1099-QA: For reporting distributions from ABLE accounts.

15. Form 1099-R: For reporting distributions from retirement or profit-sharing plans, IRAs, SEPs, or insurance contracts.

16. Form 1099-SA: For reporting distributions from HSAs, Archer MSAs, or Medicare Advantage MSAs.

17. Form 1098: For reporting $600 or more of mortgage interest.

18. Form 1098-E: For reporting $600 or more of student loan interest.

19. Form 1098-MA: For reporting mortgage assistance payments.

20. Form 1098-T: For reporting qualified tuition and expenses.

21. Form 8300: For reporting transactions of more than $10,000 in cash (including digital assets such as virtual currency, cryptocurrency, or other digital tokens representing

value).

22. Form 8308: For reporting exchanges of a partnership interest in 2023 that involved unrealized receivables or substantially appreciated inventory items.

23. Form 5498: For reporting IRA contributions, including traditional, Roth, SEPs, and SIMPLEs, and providing the December 31, 2023, fair market value of the account and required

minimum distribution (RMD) if applicable.

For efficient processing of your tax return, it is essential that we gather all necessary information. Please fill out the short Intake Sheet. Your accurate responses on the
Intake Sheet will enable us to provide you with the best possible service and ensure compliance with tax regulations.

Convenient Solutions and Tailored Assistance:

Understanding the complexities of tax season, G&S Accountancy offers convenient solutions for document submission. If you’re in the Rancho Cucamonga area, feel
free to drop off your paperwork at our office.

Alternatively, secure online uploads are available. Our goal is to make your tax deadline experience as seamless as possible.

For organizations with fiscal year schedules, we provide tailored support to assist in identifying and meeting specific tax deadline, ensuring punctual compliance.

Conclusion: Embark on a Smooth Tax Journey:

As the tax season unfolds, let us at G&S Accountancy ease your journey. With our expertise and personalized approach, we’re committed to ensuring a smooth and
efficient tax filing experience for you.

Ready to start? Give us a call, and take the first step towards a worry-free tax season.

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