Missing tax forms is a common issue during tax season. Employers, banks, and financial institutions may issue forms late, correct them after initial issuance, or send them to outdated addresses.
While it is technically possible to estimate income using pay stubs or account statements, doing so increases the risk of errors. Estimated figures may not match official records, leading to delayed refunds, notices, or amended returns.
Filing without all forms can also affect deductions and credits. Missing information may cause underreporting income or miscalculating eligibility for tax benefits.
In some cases, taxpayers rush to file early and later receive corrected forms. This often results in the need to amend the return, which can delay refunds and create confusion.
Waiting for all forms or seeking professional guidance usually results in a more accurate and efficient filing process.