What Tax Records Can You Throw Away?
October 15 is the deadline for individual taxpayers who extended their 2019 tax returns. (The original April 15 filing deadline was extended this year to July 15 due to the COVID-19 pandemic.) If you’re finally done filing last year’s return, you might be wondering: Which tax records can you toss once you’re done? Now is […]
The Easiest Way to Survive an IRS Audit is to Get Ready in Advance
IRS audit rates are at an historical low, but that’s little consolation if your return is among those selected to be examined. However, with proper preparation and planning, you should fare well. In fiscal year 2019, the IRS audited approximately 0.4% of individuals. Businesses, large corporations and high-income individuals are more likely to be audited […]
