Tax Tips, Checklists and Documents

Preparing and Filing your 2016 Tax Returns

U.S. tax return filing season for the 2016 calendar year begins in January 2017. By January 31st, most individuals will receive most of their end-of-the-year tax summary documents needed to prepare their 2016 tax return(s).

U.S. tax return filing season for the 2016 calendar year begins in January 2017. By January 31st, most individuals will receive most of their end-of-the-year tax summary documents (described above) needed to prepare their 2016 tax returns to the Federal Government (IRS) and the State of California Franchise Tax Board (FTB).

  1. Do not begin preparing the Federal tax return forms until you have received all year-end tax statements (Forms W-2, 1042-S, 1099, interest & dividend statements from U.S. banks). Normally, all necessary tax documents should be received by you by no later than March 15th, 2017.
  2. Make sure you are completing the correct Federal and State tax return forms.
  3. Complete your U.S. Federal tax return before your State of California tax return. You will need information from your Federal tax return to prepare your State of California tax return.
  4. Always include all income required on your tax returns, unless it is excluded by U.S. tax laws.
  5. Make sure to keep a copy of all tax return forms and related documents prior to mailing. Keep them for 7 years.
  6. Always seek the assistance of an experienced tax professional, the IRS, or FTB if you have any questions in completing your tax return forms, never make assumptions or guesses.

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DISCLAIMER

CALIFORNIA STATE UNIVERSITY, FULLERTON DOES NOT ASSIST IN TAX PREPARATION, ACT AS A TAX CONSULTANT FOR INDIVIDUALS OR ENTITIES, PROVIDE TAX ADVICE, AND CANNOT ANSWER YOUR TAX QUESTIONS. PLEASE CONSULT A TAX PROFESSIONAL, THE IRS, OR A FINANCIAL PLANNER WHO IS PROFICIENT WITH TAXATION WITH YOUR TAX QUESTIONS.

WHILE THE UNIVERSITY HAS MADE EVERY EFFORT TO USE THE MOST CURRENT AND ACCURATE DATA REGARDING THE 2016 TAX YEAR REPORTING, TAX LAWS CHANGE FREQUENTLY, AND IT IS POSSIBLE THAT SOME OF THE INFORMATION MAY NO LONGER BE ACCURATE. THE INFORMATION PROVIDED IS REGARDING SPECIFICALLY THE 2016 TAX CALENDAR YEAR AND SHOULD NOT BE INTERPRETED TO APPLY TO PAST OR FUTURE TAX YEARS. THE UNIVERSITY DISCLAIMS ALL LIABILITY FROM THE MISTREATMENT OF INFORMATION AND MATERIALS CONTAINED IN THIS DOCUMENT.

INFORMATION REGARDING IMMIGRATION, EMPLOYMENT, AND TAX SUBSTANTIAL AUTHORITY ARE THE RESPONSIBILITY OF EACH INDIVIDUAL. PLEASE KEEP IN MIND THAT NO ONE FROM CALIFORNIA STATE UNIVERSITY, FULLERTON, WHILE IN THEIR OFFICIAL ROLE AT THE UNIVERSITY, CAN ACT AS A TAX CONSULTANT, GIVE PERSONAL, LEGAL, OR TAX ADVICE, OR REPRESENT AN INDIVIDUAL DEALING WITH THE INTERNAL REVENUE SERVICE (IRS). THUS, ANY ASSISTANCE THE ABOVE INFORMATION MAY PROVIDE IS GIVEN AS A COURTESY TO YOU, AND AS SUCH, SHOULD NOT BE CONSTRUED IN ANY WAY AS THE RENDERING OF LEGAL OR TAX ADVICE.