What to Do with Your Tax Documents as They Start to Roll In: Organizing, Avoiding Scams, and Getting Ahead on Tax Prep

As the new year gets underway, your mailbox, physical and digital, will likely start filling up with tax documents. From W-2s and 1099s to mortgage interest statements and charitable donation receipts, it’s easy to feel overwhelmed by the paper trail. But with a little organization, a watchful eye, and some early prep, you can make tax season far less stressful, and maybe even a little smoother this year.

Here’s how to stay ahead of the curve!

1. Start a Tax Folder Now

One of the simplest ways to reduce tax-time stress is to centralize your documents. Create a dedicated folder, physical, digital, or both, labeled “2025 Taxes” (remember: you’re filing for income earned in 2025 this spring).

Include items like:

• W-2s from employers
• 1099s from freelance work or investment income
• Mortgage or property tax statements
• Bank interest statements (like your 1099-INT from Casey State Bank)
• Charitable donation receipts
• Tuition or student loan interest forms (like 1098-T or 1098-E)
• Childcare expenses, if applicable

Pro Tip: If you receive documents digitally, save them to a secure, backed-up location such as an encrypted cloud folder or a password-protected drive.

2. Know What to Expect And Watch for Missing Forms

Most employers and financial institutions are required to send your tax documents by January 31, so February is the perfect time to start checking off what you’ve received and what you’re still waiting on.

Missing a document? Contact the provider promptly. Having everything in one place before you file ensures you avoid needing to file an amended return later.

3. Stay Alert: Tax Scams Are on the Rise

Tax season is prime time for scammers. Be on the lookout for:

• Phishing emails pretending to be from the IRS or tax preparers
• Phone calls claiming you owe taxes and demanding payment
• Fake tax refund notifications asking you to click suspicious links

Remember: The IRS will never call, email, or text you to demand immediate payment or ask for personal financial information.

Protect yourself by:

• Never sharing sensitive information via email or phone unless you initiated the contact
• Shredding any unneeded tax documents with personal data
• Using secure Wi-Fi and updated antivirus software when handling taxes online

4. Consider Early Tax Filing

Filing earlier in the season comes with some big advantages:

• You’ll get your refund faster (if you’re expecting one)
• It reduces your risk of identity theft once your return is filed; scammers can’t file a fake one in your name
• You’ll have more time to gather any additional information or consult a tax professional if needed

If you’re due a refund and have all your documents ready, there’s no reason to wait.

5. Lean on Trusted Resources

Whether you file taxes yourself or work with a professional, it’s important to use reputable tools and services. If you’re looking for help, consider:

• The IRS Free File program (available at https://www.irs.gov/file-your-taxes-for-free)
• Certified tax preparers or local CPA firms
• Financial advisors or community tax assistance programs

As your financial partner, Casey State Bank is here to support your financial well-being, not just during tax season, but all year long. If you have questions about bank documents or want help understanding what to expect from us for your tax prep, don’t hesitate to reach out. We’re always happy to help.

Final Thoughts

A little prep now can save you a lot of headaches in April. Organize your documents, be vigilant against scams, and take small steps to get ahead. Your future self will thank you. And remember, at Casey State Bank, we’re here to help you build a strong financial foundation, one season at a time!