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Take it from someone who has a hoard of legal accordion files stashed away in a hope chest: It's a good idea to keep your tax records. However, if you're going through a phase of trying to get rid ...
The IRS advises that “when your records are no longer needed for tax purposes, do not discard them until you check to see if you have to keep them longer for other purposes.
The general rule is to keep your tax records for three years, but there are several important exceptions for when you might need to keep your tax records for a longer period as a taxpayer.
“The IRS will normally reach out to you if there is something on your tax return that doesn’t match their records,” said Michele Cagan CPA, who’s also published 16 books on personal ...
Form 1040, officially, the U.S. Individual Income Tax Return, is an IRS tax form used for personal federal income tax returns filed by United States residents. The form calculates the total taxable income of the taxpayer and determines how much is to be paid to or refunded by the government.
The general rule of thumb for tax records is to keep everything for at least three years, but there are some things you should keep longer. Throughout the year, I recommend that you keep your pay ...
As of the 2018 tax year, Form 1040, U.S. Individual Income Tax Return, is the only form used for personal (individual) federal income tax returns filed with the IRS. In prior years, it had been one of three forms (1040 [the "Long Form"], 1040A [the "Short Form"] and 1040EZ – see below for explanations of each) used for such returns.
Every year about this time, taxpayers all over the country stare at piles of receipts, old tax returns and checkbooks and wonder: How long do I have to keep this stuff? The length of time you ...
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related to: how long do i need to keep my irs records formStellar Choice For Taxpayers - TopTenReviews