Tax Tips 2004 - 1099 et.al.

Timely advice for consumers facing the daunting task of filing tax forms by April 15th. Consumer advice expert Clark Howard says watch the envelopes that are arriving in your mailbox.

"This is the time of the year that you open your junk mail, because a lot of stuff that looks like junk is junky tax stuff that you better keep! I've had a system that has worked well for me (over the years). I take all my 1099's and W2's and all that and I divide them in simple plain file folders. I am able to write from (each) folder.

And don't overlook any of those 1099's - no matter how small. Clark says the IRS is set up to match 1099's to your tax ID number. So, if you think that one dollar 1099 form is too small to bother with - you could find your form 1040 flagged for a review -- or worse - an audit for that oversight. So, watch for all those annoying bits of paper, organize a system to store them and make sure they all go on the approrpriate lines of your tax forms.

Not meant to be a complete discussion of any tax subject. We are not responsible for any action taken based on this information, which is from reliable sources and believed to be accurate. See your tax advisor before taking any tax related actions.