As we move into tax season, we’d like to bring two items to your attention.
On February 15, Raymond James began sending 1099s to clients with investment assets in taxable (non-retirement) accounts. As in the past, your 1099s may be delayed or revised at a later date. Raymond James will begin mailing amended 1099s on February 28, but there is no cutoff or deadline for amended tax forms. Our advice from previous years remains the same: wait until April to file your taxes, or file for an extension.
You may have also heard about a scam that is being perpetrated again this year. Scam-artists, purportedly from the IRS, call individuals to notify them that they have not paid their taxes and will face penalties if they do not pay immediately. Be aware that, among other things the actual IRS will never do, they will never call you to demand immediate payment or ask you for a credit or debit card number. You can read more on this and other scams on the IRS Tax Scams and Dirty Dozen pages.
If you have any questions about these issues, please contact your financial advisor or tax professional.
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