Tax-time resources

Tax-time resources

Getting ready for tax time?

On this page, you'll find tips to make tax time a little smoother, plus important information about tax law changes that may affect your investment and tax planning decisions.

Where are my tax forms?

  • Looking for your tax forms? Find out when your 1099 tax forms will be available.

Tax planning tips

Understanding tax basics  and planning ahead can help you keep more money in your pocket, and make preparing your taxes easier. For the best potential outcome, consider working with a  tax professional Tooltip Professionals licensed to give tax advice and help with tax planning include Certified Public Accountants (CPAs), Enrolled Agents, and tax attorneys. Since state and local tax laws vary, it's best to look for a tax professional with experience in your local area. in your local area—not just at tax time—but all year long to plan for tax-saving opportunities.

Here are four tips for a smoother tax season:

  • Check your payroll withholdings

    Do this at least yearly and any time you have a major life event, like marriage, retirement, or a change in income. Not withholding enough can lead to a bigger tax bill, and withholding too much puts money you could have invested on hold until your refund arrives. Use the IRS's online Tax Withholding Estimator tool to check your withholdings. To change them, submit a new W-4 Tooltip A tax form that you prepare for your employer indicating your exemptions and Social Security number. Your W-4 allows your employer to determine how much tax to withhold from your paycheck. to your employer.

  • Be aware of tax rules and changes that might impact you

    Tax laws are complex and change often, so it's critical to stay up-to-date. One of the best ways to do that is to work with a tax pro who can help you spot issues and opportunities in time. In addition to federal taxes, your state and local government may have their own tax rules and deadlines. A local tax pro can help with those, too.

  • Gather your forms and documents well before Tax Day

    Most employers, financial institutions, and schools start sending out tax forms (like W-2s, 1099s, and 1098-Es) in late January and February, or make them available online during that time. If you don't have yours by the end of February, call the provider (your employer or other) to ask for a replacement.

  • File your return or an extension by the federal deadline

    Don't risk late penalties. If you're waiting on forms or need more time, consider filing an extension. You'll still need to pay any tax you owe by the IRS payment deadline, but you'll have until October to file your return. For exact deadlines and special rules for military and international taxpayers, visit www.IRS.gov.

Make sure your portfolio is tax-smart with this year-end checkup.

Significant changes to the tax law, like those ushered in by the Tax Cuts and Jobs Act (TCJA) of 2017, happen from time to time. But changes in most years are more subtle—mainly consisting of minor adjustments to keep up with inflation. Still, even minor adjustments may have an impact on your tax and investment decisions.

Examples of changes to check for every year include updates to income tax brackets and rates, qualifying rules for deductions and credits, and contribution limits for tax-advantaged accounts, like your IRA, 401(k), or health savings account (HSA).

See eight other changes that may affect your 2021 tax return.

What you can do next

  • What you can do next

    • Schwab clients, log in to find your Schwab tax forms.
    • Use the IRS's Tax Withholding Estimator tool or get other tax info from their website.
    • Explore our tax-deferred retirement and education savings account options.