When to File Your Personal Taxes? We Recommend You Wait until Late March or Early April

As the tax forms flow to our mail and email boxes, we thought it was a good time to give you our gentle reminder NOT to file your taxes before late March or early April, especially given our “Rockwell Somebody’s Watching You” year.

Corrected 1099’s are a regular part of lives this day and age due to the complexities of investment products. Remember, as clients, we may have investments in stocks, mutual funds, bonds, as well as commodities, foreign stocks and bonds, and partnerships, which generate a K-1.  Many of these investments have accounting adjustments late into the tax season, resulting in a domino effect on 1099’s and other reporting instruments.

In addition to more complex investment statements, we also have our first Rockwell year, in which the government has begun tracking and reporting gains and losses. We will introduce you to a new friend, Form 8949 soon, but needless to say there are more moving parts this year to go along with our continued growth in complex investment products.

We continue to advise we all take a deep breath, stay patient, and keep our income tax lives off-line, until very late March, or early April.

Have a Great Day!




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