Check out our list of and terms to know and handy resources related to tax forms at both the state and federal levels.
Helpful State and Federal Tax Resources
We understand – state and federal tax forms can be confusing! Good thing Geltco knows exactly how to help guide clients through these situations. It’s our job to ensure you are informed and prepared, whether you’re an official client yet or not.
Here’s a breakdown of some common tax and accounting documents and what they mean. It’s helpful for clients to come prepared with all of the necessary documentation when meeting with a Geltco team member as this makes the entire process quicker and smoother for everyone. So take a look and whenever you’re ready, we’ll be ready for you!
Illinois State Tax Information and Forms
The state of Illinois requires that all residents complete and submit an Illinois Department of Revenue tax form each year. An Illinois state tax form comes in several categories: Individual, Business, Registration, Withholding, Sales & Related, Miscellaneous and more. Find them here.
If your annual tax liability meets or exceeds $20,000 then you must make electronic payments, though there are a few notable exceptions. Individuals and businesses can make electronic payments via the MyTaxIllinois website.
Geltco team members are well versed in Illinois tax forms, laws and procedures, and we’d be happy to help make the process a smooth one for you or your business.
Federal Tax Information and Forms
The Internal Revenue Service (IRS) is the nation’s tax collection agency. It serves to not only enforce but also assess taxes, while helping educate taxpayers on their responsibilities. The overall mission of the IRS is to ensure everyone pays their fair share. Here is a breakdown of common IRS tax forms.
1099 tax forms – Used to report various types of non-employment income earned over the course of a year by a given taxpayer.
Nonprofit tax form 990 – Most federally tax-exempt organizations will need to file Form 990 with the IRS. Although they do not have to pay taxes, they are still required to submit this informational return which details a nonprofit’s mission, programs, operations and finances for the IRS along with the general public to evaluate.
Whether filing tax forms for yourself, a business, a nonprofit organization or another venture, give Geltco a call for expert tax planning, preparation and management. We exist to make our clients’ lives easier.
More helpful tax resources:
Illinois Department of Revenue website with registration and payment options
Illinois Department of Employment Security website
Illinois Department of Revenue website
Illinois Secretary of State website
Florida Department of State website
Florida Department of Revenue website