Jan 10, 2017
WASHINGTON — As tax filing season approaches, the Internal Revenue Service has information for taxpayers who wonder how long to keep tax returns and other documents. Generally, the IRS recommends keeping copies of tax returns and supporting documents at least three...
Jan 9, 2017
The length of time you should keep a document depends on the action, expense, or event which the document records. Generally, you must keep your records that support an item of income, deduction or credit shown on your tax return until the period of limitations for...
Sep 17, 2016
You can fix mistakes or omissions on your tax return by filing an amended tax return. If you need to file one, these tips can help. Must be filed on paper. Use Form 1040X, Amended U.S. Individual Income Tax Return, to correct your tax return. It can’t be...
Sep 17, 2016
Generally Taxpayers file amended returns to correct and/or update their original filing information. The appropriate form to utilize is the Form 1040X which is a three column (Columns A, B & C) format. The first entry is a check box indicating the tax year the...
Sep 17, 2016
You may be tempted to forget about your taxes once you’ve filed but some tax planning done now may benefit you later. Now is a good time to set up a system so you can keep your tax records safe and easy to find. Here are some IRS tips to give you a leg up on next...
