As Someone Who Is Working, What Issues Should I Consider When Reviewing My Tax Return?

[Checklists and Flow Charts] - As Someone Who Is Working, what issues should I consider when reviewing my tax return?

Reviewing your tax return can always be an informative exercise to ensure you understand all sources of income and tax liabilities for the prior year.

In this checklist, we highlight points to consider on your tax return if you are working including:

  • Review the filing status. If you are married should you automatically file jointly with your spouse or might there be situations where you might consider filing separately?
  • If you have dependent children, you may be eligible for certain credits.
  • If you are divorced or widowed, there are filing steps for you to take depending upon timing and circumstances.
  • If you had investment income for the prior year, there are reporting issues that you will want to be sure you addressed in connection with this income.
  • If you owned tax-advantaged accounts during the prior tax year, there may be some reporting issues to consider. Did you convert a traditional IRA to a Roth? Did you contribute to an HSA or a 401(k) plan?