Like every year, the deadline to file your 2024 tax return is knocking at your door. So, if you haven’t begun collecting your documents yet, it’s not late. The deadline for 2024 tax returns is set by the IRS on April 15, 2025. To assist taxpayers in receiving their 1099 and 1042S forms in time, the Social Security Administration has released the details of both.
Why do you need 1099 and 1042S forms?
You will report your application or income from Social Security Disability Insurance (SSDI) to the IRS through either Form 1099 or 1042S. The IRS will want to verify your benefit income when filing your 2024 tax return.
A 1099 or 1042S form is generally sent through mail to the taxpayers. However, if you have recently changed your address or for any other reason, the mail gets delayed, then this problem may occur. That’s why the Social Networking Administration has provided this facility so that you can download your form online. This will not only save time but you will also get your tax glucose quickly.
Benefits of downloading the form Fast return file:
Instead of waiting for the form meeting, you can download it immediately and file the return. Avoiding IRS penalty: You may not have to face a penalty on tax returns on time. Friendliness: The correct information of your laptop reaches the IRS, so that the correct information of your laptop can be obtained.
How to get 1099 or 1042S form?
It is very easy to get your 1099 or 1042S form. You can get it logging into your account of Social Security. If you haven’t already created your online account, you can do that now.
Steps:
- Access my Social Security account.
- Go to “1099/1042S Tax Form”.
- Click on the print/download button
If you reside outside the United States, and you are a pioneer, it is not possible to attach a paper copy to your tax form. You should contact the Federal Benefits Unit in this case. You can reach them through: https://www.ssa.gov/foreign/foreign.htm
Taxpayers receiving Supplemental Security Income have some good news.
If you are a beneficiary of Supplemental Security Income, then this application is not applicable to you because SSI recipients do not have to pay income tax; the Social Security Administration will not generate a tax return for you.
What to do if you did not receive the form on time? If the form is not received through the mail or is delayed, there is no need to worry. By downloading the online form, you can avoid delays in your tax process.
Start the tax return process as early as possible
The earlier you collect your documents and file your return, the sooner you will receive tax approval from the IRS. Direct deposits will then be made directly to your bank account, saving you not only time but also hassle.
Due Date Notes
On or before April 15, 2025, submit your tax return. Tax filing at dusk often creates mistakes or delayed filing which happens to open the door for IRS penalty lag.
Conclusion
One of the more important parts of your whole tax process would be the 1099 and 1042S forms. The Social Security Administration has streamlined it such that a taxpayer can download it from the website. Get yours ready now and double-check if you haven’t signed up for an account with Social Security. By getting prepared well in advance, you can file your tax return before the given deadline by the IRS and claim tax returns.
FAQs
Q1. What is the purpose of Form 1099 or 1042S?
Form 1099 or 1042S is used to report your Social Security benefits, such as retirement or SSDI income, to the IRS. This ensures accurate filing of your tax return and proper reporting of income for tax purposes.
Q2. How can I access my Social Security tax forms online?
You can download your 1099 or 1042S form by logging into your my Social Security account. If you don’t have an account, you’ll need to create one on the Social Security Administration’s website.
Q3. What should I do if I didn’t receive my 1099 or 1042S form by mail?
If your form hasn’t arrived by mail due to address changes or delays, you can download it online from your my Social Security account. This is faster and more reliable than waiting for the mail.
Q4. Are Supplemental Security Income (SSI) recipients required to file these forms?
No, SSI payments are not taxed. If you only receive SSI benefits, the Social Security Administration will not issue a tax form, as it is not required for tax filing.
Q5. What is the deadline to file my 2024 tax return, and why is it important to file early?
The IRS deadline to file your 2024 tax return is April 15, 2025. Filing early ensures faster processing of your tax refund and reduces the risk of penalties for late submissions.