Introduction
Empower Retirement is a company that provides retirement plans and solutions for individuals and businesses. If you have an account with Empower Retirement, you may be wondering how to obtain your 1099 form for tax purposes. In this article, we will discuss what a 1099 form is, why it is important, and how you can get your 1099 from Empower Retirement.
Understanding 1099 Forms
A 1099 form is an IRS tax form that is used to report various types of income, other than wages, salaries, and tips. For individuals, this could include income from interest, dividends, government payments, and retirement distributions. If you have a retirement account with Empower Retirement, you may receive a 1099 form from them at the end of the year.
Why is a 1099 Form Important?
A 1099 form is used by the IRS to track and report income other than traditional wages. This information is crucial for both the IRS and taxpayers, as it ensures that all income is accurately reported and that taxes are paid on all income. If you do not receive a 1099 form for income that should be reported, it is your responsibility to contact the payer and request the necessary documentation.
How to Get Your 1099 Form from Empower Retirement
To obtain your 1099 form from Empower Retirement, you have a few different options:
Option 1: Log into Your Online Account
If you have an online account with Empower Retirement, you can easily access your 1099 form by logging in and navigating to the “Statements” section. Here, you will be able to view and download your 1099 form for the previous tax year.
Option 2: Contact Customer Service
You can also contact Empower Retirement’s customer service team to request your 1099 form. They can assist you with obtaining a physical copy or sending it to you electronically via email.
Option 3: Wait for Your Form to Be Mailed
If you do not have an online account and do not wish to contact customer service, you can simply wait for your 1099 form to be mailed to you. Empower Retirement typically sends out 1099 forms by the end of January, so be sure to keep an eye out for it in your mailbox.
Frequently Asked Questions
Q: Do I need to include my 1099 with my tax return?
A: Yes, you will need to include your 1099 form when filing your tax return as it documents income that needs to be reported.
Q: Can I access previous years’ 1099 forms from Empower Retirement?
A: Yes, you can access previous years’ 1099 forms by logging into your online account or contacting customer service.
Q: What should I do if I do not receive my 1099 form from Empower Retirement?
A: If you do not receive a 1099 form that you were expecting, you should reach out to Empower Retirement to inquire about the status and request a copy if necessary.
Now that you know how to obtain your 1099 form from Empower Retirement, you can ensure that you accurately report all of your income to the IRS. Remember to keep your 1099 form in a safe place and include it when filing your tax return. If you have any additional questions or concerns, don’t hesitate to reach out to Empower Retirement’s customer service team for assistance.
