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First Year Filing Taxes: What to Know & Expect

In summary, the deadline for filing taxes for the first year is typically April 15th, but it may vary depending on the specific tax laws and regulations in your state. To file your taxes for the first year, you will need your Social Security number, W-2 forms, and any other income documents. If you had no income during your first year, you may not be required to file taxes, but it is still recommended to claim potential tax credits or deductions. Filing your taxes for the first year online is possible through tax preparation software or the IRS's Free File program. If you miss the deadline for filing, you may face penalties and interest on any taxes owed.
TJMagoo
116
I just joined as a consultant in September, so this is my first year filing taxes. Is there anything I need to know, forms to print out etc? Will I get something in the mail?

-Kelly
 
You will be receiving a form 1099 that will show what you have earned as income. I receive mine online, but I believe I had to opt out of having one mailed at some point, so you should receive one by mail.
 
I keep checking for my 1099. When do they usually come out?
 
Brenda.the.chef said:
I keep checking for my 1099. When do they usually come out?
END of January. Legally, they do not have to have them until the 31st. Today is only the 9th.
*Mailed 1099's may be a few days into February depending on when they mail them.
 
  • Thread starter
  • #5
Thank you!
 
My experience with PC is they wait until the end of the month to do it (but my last name used to start with an "S" so idk if that was a factor or not).
 
  • Thread starter
  • #7
I figured out my problem. My commission wasn't over $600 (I just joined in October) so no 1099 forms if you did not make $600.
 

What is the deadline for filing taxes for the first year?

The deadline for filing taxes for the first year is typically April 15th, but it may vary depending on the specific tax laws and regulations in your state.

What documents do I need to file my taxes for the first year?

You will need your Social Security number, W-2 forms from any jobs you had during the tax year, and any other income documents such as 1099 forms. You may also need receipts or documentation for deductions or credits, such as student loan interest or charitable donations.

Do I need to file taxes if I didn't have any income during my first year?

If you had no income during your first year, you may not be required to file taxes. However, it is still recommended to file a tax return in order to claim any potential tax credits or deductions that you may be eligible for.

Can I file my taxes for the first year online?

Yes, you can file your taxes for the first year online using tax preparation software or through the IRS's Free File program. This can often be a faster and more convenient option compared to paper filing.

What happens if I miss the deadline for filing my first year taxes?

If you miss the deadline for filing your first year taxes, you may face penalties and interest on any taxes owed. It is important to file your taxes on time or request an extension to avoid these consequences.

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