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Wednesday, March 11, 2015

Tax return...PO Day 268

We are working on our income tax return. Somehow the folder where all the documents that show income, like interest or dividends or social security, has disappeared. I'm sure it will show up as soon as we recreate everything in it. In the meantime though we have to collect all that information. Well, I thought that we would have to wait for duplicate forms to be mailed to us. But not so!

Everyone, every company, provided a website where you can register and have access to your data. I knew that! But I didn't realize copies of 1099s were available and printable. How convenient.  Of course that's the private sector. What about the federal government system?

I registered both of us with socialsecurity.com and immediately could see previous social security payments, future payments, and the forms that report what one is paid, what was deducted for medicare and drug plans if signed up for those. If you are not yet receiving social security and are still working, you can see your credits and quarters worked. Very useful information.

I am able to go into my hospital account and recreate my charges and payments as well as treatment including dates and doctors. I can go to my account with medicare.com and see if and when I met my deductible. I can see all charges from doctors, hospitals, therapists, etc.

I am as quick as anyone to be suspicious of on line information and the loss of privacy we all experience. But, wow, when you need quick access to the information it is great that it is available. The only thing that could be better would be if we didn't have to file a tax return at all. How about a flat tax? Think of the time and effort and expense that would be saved. I'm for it!

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