Additional Tax Forms

As tax season rolls around, whether you're an employer or an employee, it can be hard to figure out which tax forms are needed for documenting which kinds of incomes and expenses. With plenty of tax forms to choose from, it's easy to make sure you have all of the necessary paperwork on hand and ready to file. With tax forms ranging from W-3 and 1098 to 5498 and 1096, we have what you need to take the headache out of tax season.

1098 Tax Forms

1098 tax forms come in many different varieties, similar to 1099 tax forms. The most common type of 1098 tax form is a tuition statement, which educational institutions file for each enrolled student they received a payment or transaction from. Some other types of 1098 tax forms include mortgage interest statements, interest paid on student loans and contributions of motor vehicles, boats and airplanes donated to tax-exempt organizations.

1042, 1096 and W-3 Tax Forms

Document the amount of tax withheld on select income of foreign persons, including non-resident aliens and foreign corporations, with a 1042 tax form and use a 1096 tax form if you're a tax-exempt organization. W-3 tax forms show the total earnings, Medicare wages, Social Security wages and withholdings for all employees and is a transmittal form that's meant to be sent to the Social Security Administration.

5498 and 3921/3922 Tax Forms

If you've made a contribution to an IRA (Individual Retirement Account) within the past year, you'll need a 5498 tax form. If you're a company that's transferred a share of stock to an employee or employees, you'll need 3921/3922 tax forms, which relate to certain stock transfers.