This is a common question: How long must taxpayers keep copies of their income tax returns and supporting documents? Generally, individuals should hold on to their income tax records for at least 3 years after the … Read More
Did you know that when you protect tax data it will help with your future filings, amended returns and audits? Not to mention protect your identity, as well?
Since we all are heading in tax season soon, the IRS wants all taxpayers to be aware as to how long to keep tax returns and other supporting documents.
So, why do we think early tax planning is appropriate this year? Actually, with the prospect of major tax reform on the horizon, some strategies can be put into place before the end of the year that can substantially reduce your 2017 tax bill. That would be nice.
Did you get a letter from Mass Department of Revenue asking for copies of your W-2s, 1099s, etc? Don’t panic. Chances are you have these w2 copies in your files and you just need to pull them out and follow these steps.
Tax day is behind us and now the question remains, “how long do I need to keep my tax records?” The answer is–it depends on when you can toss old tax files.
Tips are income too. Do you get tipped? Do you work in an occupation where tips are part of your total compensation? If so, you need to be aware of several facts relating to your federal … Read More
Now that your taxes have been completed for 2014, you are probably wondering what old tax records can be discarded. If you are like most taxpayers, you have old records from years ago that you are … Read More