Part – III Income

The Income section of Form 13614-C, Intake/Interview & Quality Review Sheet or approved alternative form, includes a line for taxpayers to indicate Pension and or IRA distributions as well as a line to indicate social security or railroad retirement benefits. To ensure accurate reporting of income, taxpayers should be asked about receiving any of these benefits including annuities, retirement or profit sharing plans, insurance contracts, etc.

Retirement income may be fully or partially taxable. If taxpayers receive any of this income, it may need to be reported on one of several forms discussed later in this lesson.

Use the approved Intake and Interview Sheet to confirm that all income received by the taxpayer has been discussed and is shown on the return. If items are incorrect or incomplete, revisit the issue and make corrections to the return, as needed.