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By Numbers Blog

How do You File Taxes without your Tax Forms?



How Do You File Taxes Without Your
Tax Forms?

Almost every other person these days seems to be talking about how great it feels to be a tax-compliant citizen. And although you agree with the idea about paying your fair taxes on time, you may also be frustrated with the sheer amount of labor that goes into compiling all the paperwork that filing your taxes requires.

Let's be honest — even the nerdiest of us have a hard time organizing all those forms, receipts, confirmation letters, and the dozen other requirements that are a part of the tax filing process. That, too, is assuming you have all your documents with you in the first place!

That brings us to another difficulty that the system presents us with when filing our taxes. Sometimes, not all of us have the exact same nature of taxable incomes and products. True, there's a large number of people who earn by working within gigantic corporate structures which have streamlined taxation procedures.

They shop from sources that have POS verifications, and they have vouchers for all the private services and products they generally use throughout their life. This automatically provides them with the tax forms and receipts they require to file their taxes later on.

Now, let's consider the opposite scenarios. Some people diligently purchase from thrift markets, go big on preloved items, and do most of their grocery from farmer's markets.

Some people freelance or are self-employed; hence they have no formal income tax verifications on behalf of their employer, either. Many other people avail state-funded facilities and services in healthcare, education, and essential utilities, such as food, housing, clothing, and so on. In these cases, as well as in many others, there are hardly any official tax regulations or tax form systems.

Many transactions even work without any receipts, which makes it quite challenging to trace the flow of cash across different buyers and sellers. Besides this, even some accomplished businesses and companies have many gaping holes in their tax form issuance systems, which leaves their consumers and employees to deal with the mess later on.

The bottom line is that filing taxes is no walk in the park. When you have a diversified stream of incomes and expenses, some of which are registered for taxes and the others are not, the tax filing season is bound to give you a migraine. You may encounter issues and requirements that even some of the most experienced tax preparers, attorneys, and CPAs have trouble dealing with. But as it is, big and small businesses, bookkeeping and accounting blunders, and some conspicuous tax evaders within the system make this an inevitable problem.

So what should you do to make the next tax season bearable, even when your tax records are a bit crooked? Can you still file taxes when you have incomplete forms from your employers and others places of revenue and transactions? If filing is possible, how should you not attract unnecessary attention and speculation? If all these questions bother you, here's the perfect guide to help you get out of this downward spiral. Keep on reading to find out more!

Can You File Taxes Without Tax Forms?

In most cases, there are ways to make your tax filing successful through multiple channels of effort, even when you don't have the preferred types of tax forms. Despite being functional and mainstream for some time, the taxation system is still under reforms and development, which means your often-incomplete tax documentation is passable by the standard of most tax officers. So if you don't have your tax forms, or if you've misplaced them, you may still be able to file your taxes. Want to know how that works? Here's a concise intro!

Ways to File Taxes Without Tax Forms

1. Involve a CPA

A Certified Public Accountant (CPA) is someone who is governmentally qualified to present you in audits, maintain your tax records, and find resources to make your tax filing work out successfully when unidentifiable tax sources are meddling with your tax record.

Although CPAs generally charge quite a handsome amount of money for their services, they are some of the most trusted and knowledgeable individuals within the taxation system. When you hire a CPA to get your filing sorted for you, they'll help you in extracting your lost forms, getting new forms issues from different places, and will also work with alternatives in case you can't get hold of any form.

With a CPA involved, your job is to essentially let them guide the whole process while they perform all the administrative and legal dealings. CPAs have their privileges and authority in tax filing systems to overrule the limitations and restrictions set for filing entities and individuals. As a CPA, they'll be able to cover the gaps in your taxable transaction records, so you may end up mainly working without forms. However, the only catch with a CPA is that their services tend to be expensive, so if that bothers you, you may head over to other options to file taxes without forms.

2. Head Over to Your HR or Payroll Department

As far as your income tax forms are concerned, your place of employment can prove quite resourceful in bringing together sufficient evidence to pass off in place of tax forms. Whether you are an employee, the CEO, or the owner, the HR, payroll, and finances department in your company will help you locate the various income transactions over a certain duration of time.

Fortunately, this option can work for company owners, executives, shareholders, employees, and other staff. If you receive any payment from a specific bank account and have email or text notifications enabled for your transactions, the threads of those emails and texts can assist you, and your HR create a set of evidential statements that can replace the requirement of income tax forms.

When you go to HR, it may not cost you even a single buck from your wallet to get your matters sorted, but it could take up a big chunk of your time if the HR and finances department is already busy preparing the company’s tax files. Simultaneously, this is also the best time to approach HR since they’ll have all the personnel’s files within reach, so your record may be easier to locate.

Therefore, with help from your HR records, your emails and texts, bank statements, vouchers, and other incentive records, you can curate all the necessary details that tax forms contain. With that said, this curation could be too hectic, so it’s best if you start on this path as early as possible. If you need help in this kind of tax preparation, then you could take the services of a tax preparer, who may charge only a nominal fee for helping you craft a convincing tax record.

3. Speak to the IRS

If nothing else works, then you may speak directly to the Internal Revenue Services and ask them to help you sort out your tax form compilation issues. Since controlling your taxes inevitably ends up with the IRS, even temporarily, the institution plays a vital role in surveying and monitoring all the micro-level and mega-scale transactions across various groups of individuals and entities.

When you approach the IRS, you might feel a little intimidated about not having your forms with you and having to explain the situation to each of their stern-looking officers. Therefore, it’s best to keep the IRS as a last resort, that too only after you’ve spent some time trying out other methods of replacing your tax forms with other relevant and authentic documents.

Put another way, make sure you've done all the homework and have all your existing documents ready, with their copies and attestations at your hand at any given time. Besides this, it may also benefit you if you research into the general concepts of how the IRS operates with regards to taxes — this may save you from getting caught off guard later on.

So when you’re finally ready to speak with an IRS officer, your confidence and sincerity will prove just as valuable as well-curated documents. If you can provide your IRS officers with details regarding the forms you received and have misplaced, or details about your company’s tax filing, they’ll find it easier to generate leads, verify your documents, trace the chains, and accept your tax returns.

In some cases, they may also generate new forms for you to fill out and submit there and then. If you’re worried about messing things up, you can hire a CPA, preparer, bookkeeping expert, or other professional to help you out.

Conclusion

Losing your tax forms isn’t the end of the world. Though they may be hard to locate, your taxable transactions usually have multiple records available with different entities and in other mediums. You can opt for various alternatives to extract this record and file your taxes without any worries or disruptions, while getting help from small business CPA’s, tax preparers, and other resources.

References

https://www.taxoutreach.org/blog/can-i-still-file-taxes-without-my-w-2-or-1099/

https://www.bankrate.com/finance/taxes/file-return-without-1099-forms.aspx

Final Thoughts

If any of the information provided above made you feel confused, don’t stress because you are not alone. There are many other businesses that have faced similar problems in the past. However, with time, they have fared well with just a little help.

If you are struggling or just don't have the time to keep up with it, it may be time to have Hall Accounting take over and invest with accurate accounting records and financial reports. The Hall Accounting team will manage your records from start to finish and make sure all adjustments are timely recorded. This option is also feasible for small businesses because it is cheap and hassle-free, at a fixed monthly rate. If you are interested, please feel free to email us at proposals@hallacctco.com and we will get you a free quote!


FUTURE IMPORTANT DEADLINES

1/24/22
IRS began accepting and processing 2021 tax returns

3/15/22

Deadline for partnerships and S-Corp returns for 2021

4/18/22

Deadline to file individual tax returns for 2021
First-quarter estimated tax payments due for 2022
Deadline to contribute to HSA for 2021
Deadline to contribute to IRA for 2021