CTC TAX INFORMATION UPDATE

We all want to 'beat the rush' at the tax preparer and get the tax preparation chore out of the way.  But there are several types of information that you need to have before the tax preparation process can begin.

1099 forms report various types of income received during the year.  You probably receive multiple 1099 forms from annuities, bank accounts, and others.  The deadline for institutions to mail 1099 forms to individuals is January 31.

W-2 forms are sent to those who are still working.  These forms report on income earned, taxes withheld, etc.  The deadline for mailing W-2 forms to individuals is also January 31.

Other tax information [such as that you get from Covenant Trust Company] is also vital to accurate tax preparation.  But--like you--we must wait to receive 1099 and other forms from funds and others we work with.  And just like you, we have to wait until the first few days of February to make sure we have everything we need to assemble our client tax information.

Covenant Trust Company's goal is to have all client tax information in the mail no later than February 28, 2010.  There are always a few accounts with special circumstances that may delay the process; so we notify those clients individually and let them know when their tax information will be ready.

Our Administration Department works non-stop to get client tax information out on schedule.  Clients can help by scheduling tax preparer appointments after March 1.  If you have questions, please contact your Trust Administrator here at Covenant Trust Company.