Incomplete or missing documentation is one of the most common causes of delays in tax return preparation. At Weinstein Spira, our tax professionals work closely with clients throughout the year to help simplify the filing process, minimize delays and ensure returns are prepared accurately.
To help keep your return on track, we have answered some of the questions we hear most often and outlined the information we frequently need from clients.
Information We are Commonly Missing
Some tax documents require additional details before we can accurately prepare your return.
Stock Sales
Issues often arise with Form 1099-B when the cost basis is not reported. In these situations, we may need:
- Original purchase price (cost basis)
- Date the investment was acquired
- Supporting documentation
Without this information, the gain or loss on the sale cannot be calculated accurately.
Charitable Donations of Stock
If you donated securities during the year, please provide:
- Date acquired
- Original cost basis
- Fair market value on the date of donation
- Documentation from the charitable organization
These details are necessary to properly report the contribution and maximize any available deduction.
Mortgage Information
In addition to your mortgage interest statements, we may need:
- Beginning and ending mortgage balances
- Details about refinancing or new loans
Estimated Tax and Extension Payments
In addition to making tax payments, clients should also provide details of those payments. Confirming payments helps prevent overpaying taxes or receiving unexpected balances due.
- Payment dates
- Payment amounts
- Whether payments were made to the IRS, state taxing authorities, or both
Changes in Personal Information
Please notify your tax team if any of the following occurred during the year:
- Address changes
- Home sale (provide the closing document and original purchase agreement)
- Marital status changes
- New or removed dependents (provide their names, Social Security numbers and dates of birth)
- Name changes
Common Questions About Tax Documents
“Can I Send My Annual Investment Statement Instead of a 1099?”
Usually not. We need official tax forms such as:
- Form 1099-INT
- Form 1099-DIV
- Form 1099-B
- Consolidated Form 1099
If you are unsure which document to provide, send both and we will determine what is needed. Please be sure to include all pages.
“Do You Need Every Page of My K-1?”
Yes. Please provide all pages, attachments and supplemental schedules (including K-3), as important information is often contained beyond the first page.
“Do You Need Every Page of My Tax Documents?”
Generally, yes. Please include:
- All pages
- Attachments and schedules
- Brokerage supplements
- State reporting information
Missing pages often result in follow-up requests and processing delays.
“What If I Receive a Corrected Tax Form?”
Please send the corrected version as soon as possible, even if you have already provided the original form. Financial institutions frequently issue corrected Forms 1099, and using the most current version helps ensure your return is accurate.
Tips for Uploading Clear and Complete Documents
Providing organized, readable documents can significantly speed up the preparation process. Whenever possible, submit documents in the same format in which they were originally issued. This helps ensure all pages are included and the information remains clear and legible.
Submit PDFs Instead of Photos
PDF copies are preferred because they:
- Maintain document quality
- Reduce missing or cropped information
- Improve scanning and processing efficiency
Review Before Uploading
Before submitting documents, please verify:
- All pages are included
- Documents are legible
- No pages are cut off
- Attachments are included
Send Documents Securely
Whenever possible, upload documents through ShareFile or a secure client portal rather than sending sensitive documents via email.
Secure portals help protect personal and financial information and provide a safer way to exchange tax documents.
What Your Tax Team Needs from You to Keep Things Moving
Tax preparation is a collaborative process, and timely communication can help avoid unnecessary delays.
Let Us Know When Documents Will Be Available
If you are waiting on a K-1, brokerage statement, or other tax form, let us know.
- What document is outstanding
- When you expect to receive it
- Whether corrections are likely
Consider Granting View-Only Access to Brokerage Accounts
In some situations, granting your tax team view-only access to brokerage accounts can help streamline the tax preparation process. With view-only access, we can:
- Retrieve tax documents when they become available
- Monitor for corrected Forms 1099
- Reduce the need for repeated document requests
View-only access does not allow us to make trades, transfer funds, or make changes to your account. If you are interested in providing access, contact your advisor or brokerage firm to determine what options are available.
Communicate Travel Plans and Availability
If you will be out of town, unavailable, or have limited access to email, please let us know. Keeping your tax team informed helps us plan accordingly and avoid communication delays.
Respond to Information Requests Promptly
When your tax team requests additional information, providing it quickly helps keep your return moving through the preparation and review process.
Final Thoughts
Complete, well-organized tax documents help us prepare your return accurately and in a timely manner. Providing all required documentation, responding promptly to questions and keeping your tax team informed about outstanding items can reduce delays and make the filing process smoother.
If you are ever unsure whether a document is needed, it is always better to send it and ask. At Weinstein Spira, our goal is to make the tax preparation process as accurate and stress-free as possible. By working together and maintaining open communication throughout the year, we can help keep your return on track and avoid unnecessary delays.
