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Why are my tax documents not available until around February 20th?

 

The short answer is that many investment firms, including Wealthfront, issue tax documents in mid-to-late February in order to minimize the chance that you receive a restated 1099 and therefore have to refile your taxes.

By waiting until around Feb 20th, we ensure that the most recent investment information is captured in your tax documents, including dividend payouts and any company-specific events like mergers and acquisitions. While this doesn't guarantee you won't receive a restated tax form, it minimizes this chance.

This change, which many firms have adopted, is the result of a law change and IRS report from 2009 which noted that because a significant number of investors were receiving restated forms, the deadline for tax documents should be pushed into February. You can read more on the IRS website here

 

 

Nothing in this blog should be construed as tax advice, a solicitation or offer, or recommendation, to buy or sell any security. Financial advisory services are only provided to investors who become Wealthfront Inc. clients pursuant to a written agreement, which investors are urged to read carefully, that is available at www.wealthfront.com. All securities involve risk and may result in some loss. For more information please visit www.wealthfront.com or see our Full Disclosure. While the data Wealthfront uses from third parties is believed to be reliable, Wealthfront does not guarantee the accuracy of the information.

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