taxreturns

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 should keep your tax records depends on a number of factors, including the action, expense or event the...

"Worried about an IRS audit? Avoid what's called a red flag. That's something the IRS always looks for. For example, say you have some money left in your bank account after paying taxes. That's a red flag." -- Jay Leno While Leno might not have it exactly right, he is on to something: The IRS...

It's about the time when employees start wondering where their W-2s and other tax items are. Your employer has until February 2 to get your W-2 into the mail to you, so you should have your forms by the end of next week. If you don't receive your W-2 by then, what do you do? There are some specific...

It's a common practice to recommend that taxpayers keep their tax filing information for three or seven years. A taxpayer has up to three years after the due date of a tax return to file an amended return if new information or corrections come about. The IRS also has three years after the due date...

Income tax information is generally private, but in the case of presidential candidates, it's not. Their invasion of privacy makes for hours of fun for those of us interested in how much money others make. Here's how the numbers shook out for 2007 tax returns: John McCain:Adjusted gross income...

There's a very simple rule at the Internal Revenue Service: Employees are only supposed to look at tax records which are required to do their jobs. They're not supposed to look at anyone else's records. Not their neighbors. Not the ex-wife. Not a celebrity. Those records are off-limits.The Treasury...

You need your personal taxes done and they're not that complex, so you think you'll just run right over to H&R Block, Jackson Hewitt, or some other tax preparation franchise. It's easy and they must be good or they wouldn't have so many locations and be in business so long, right? Wrong. The...