How many years do we have to keep our back tax returns?

How many years do we have to keep our back tax returns?
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1 Answer

Answer :

Professional Accountants recommend that you keep 7 years of tax returns. You should also file away the supporting documents like receipts.
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Related questions

Is there any reason to keep income tax returns dating back to 1999-2000?

Description : Is there any reason to keep income tax returns dating back to 1999-2000?

Last Answer : According to a tax attorney and other professional preparers, you only have to keep federal returns for 7 years. There is no statute of limitations for CA state returns, so there might not be any for GA ... file a tax return or report, Georgia can audit you or assess tax against you at any time.

Hopelessly fighting to withhold his tax returns. Desperately struggling to keep Mueller away from Congress, what’s left to hide? What’s beyond the revelation of billion dollar loser?

Description : Hopelessly fighting to withhold his tax returns. Desperately struggling to keep Mueller away from Congress, what’s left to hide? What’s beyond the revelation of billion dollar loser?

Last Answer : Pee pee tapes, and multiple payments for his mistresses to abort his illegitimate children.

How long do I really need to keep my tax returns?

Description : How long do I really need to keep my tax returns?

Last Answer : answer:From Kiplinger.com: You'll want to keep tax returns forever. You'll need them when you apply for a loan or apply for disability insurance. Plus, old tax forms can be useful if you can't ... have your own business. You generally can't be audited after that. Note: the IRS says the same.

Keep Past Tax Returns?

Description : Keep Past Tax Returns?

Last Answer : After filing your tax returns, be sure to keep a copy for your records. You never know when you may need to take a look at information in past tax returns. Sometimes, people are given a surprise ... may owe back taxes to the IRS. Prevent any further hassle from the IRS by keeping your back taxes.

Where do I get copies of my back tax returns?

Description : Where do I get copies of my back tax returns?

Last Answer : You must make your own copies and keep them in a safe place. The IRS does not provide copies of previous year returns.

What are the procedures for filing back tax returns?

Description : What are the procedures for filing back tax returns?

Last Answer : Filing your taxes is something that everyone has to do on a yearly basis. To file these back returns it is highly suggested to go to a tax preparer, but one can file themselves by requesting the back tax filing paperwork from the IRS.

How do I claim my back tax returns?

Description : How do I claim my back tax returns?

Last Answer : By using the IRS, you can claim tax returns easily. The IRS is a good way to get tax returns. If you have any troubleshooting, they have a help section.

How can I get copies of previous years tax returns which I no longer have access to?

Description : How can I get copies of previous years tax returns which I no longer have access to?

Last Answer : You can get a copy of previous tax returns (IRS calls these transcripts) from IRS by calling 1-800-829-1040, or order by mail using IRS Form 4506T (Request for Transcript of Tax Return). There is no fee for transcripts. It takes two weeks for delivery.

We handle a large volume of tax returns here. How has your experience prepared you for this?

Description : We handle a large volume of tax returns here. How has your experience prepared you for this?

Last Answer : During college, I participated in the IRS's Volunteer Income Tax Assistance program. For two nights a week from February through April, I spent a few hours preparing individual tax returns in a public ... find some past experience that proves to the interviewer he can handle a large volume of work.

Can someone who lives in another state file your tax returns?

Description : Can someone who lives in another state file your tax returns?

Last Answer : If they have your permission and you signed off on it, then yeah if you are filing a simple federal form. As for state taxes, you may want to have some who knows your state taxes rules for deductions ... on top of state and federal. But a simple form that you fill at home is usually not an issue.

Should the Democrats give up on demanding Trump's tax returns and why do they matter?

Description : Should the Democrats give up on demanding Trump's tax returns and why do they matter?

Last Answer : Oh boy, are you going to get it on this site .lol But many of us agree with you, stop spending taxpayer dollars money on a fruitless never-ending witch hunt. Impeachment is a waste of time ... of them sticks. Remember, poor Hillary and her emails, which clearly violated federal law? Well we do.

Are Trump's 2005 tax returns meaningless?

Description : Are Trump's 2005 tax returns meaningless?

Last Answer : Yes.

When filing your tax returns, can you designate a certain amount of your return to go to a second party, such as a lender?

Description : When filing your tax returns, can you designate a certain amount of your return to go to a second party, such as a lender?

Last Answer : answer:There are tax preparers that will give you a “tax refund” loan. But they will charge you a lot for the privilege of a short term loan. And you have to get your return done by them. Check with H&R Block if you can have it electronically deposited at a third party.

Is Romney not releasing his tax returns because he is afraid that the IRS will see them?

Description : Is Romney not releasing his tax returns because he is afraid that the IRS will see them?

Last Answer : Seeing that they are tax returns I think that the IRS already has them.

Are federal tax returns running behind the posted dates?

Description : Are federal tax returns running behind the posted dates?

Last Answer : I’m still waiting on mine. It’s my money, and I need it now!

Is it legal to deduct med. insurance premiums on Fed or state tax returns?

Description : Is it legal to deduct med. insurance premiums on Fed or state tax returns?

Last Answer : I'm not an accountant, but I do believe you can deduct your med premiums up to the limit of your percentage of adjusted gross income

What are some reputable and BBB acredited companies that allow you to do your tax returns online?

Description : What are some reputable and BBB acredited companies that allow you to do your tax returns online?

Last Answer : Tax Act is a very reputable company that is also BBB accredited that allows you to complete and file your tax returns online. You can find them at www.taxact.com/. Other options of reputable ... H&R Block and Turbo Tax, however they do not have a BBB accredited business logo on their websites.

Are there stories about people cheating on their corporate tax returns?

Description : Are there stories about people cheating on their corporate tax returns?

Last Answer : Are you kidding? There are tons of stories. When I worked at the IRS as a teenager during tax season I worked in the fraud department. People would invent phantom employees, take deductions that they are not entitled to and try and pay employees under the table to lessen their tax burden.

Will the IRS help me with my tax returns?

Description : Will the IRS help me with my tax returns?

Last Answer : The official IRS website offers many informative links that will be invaluable to correctly filling out your tax returns. FAQs are offered in list form and can be accessed directly via the ... , beginning this year, nearly all official state and federal forms are available in downlowdable format.

Who has to file tax returns?

Description : Who has to file tax returns?

Last Answer : Not everyone needs to file a federal tax return. Those with a certain gross income, tax filing and status and age must file. You many find more comprehensive information at http://www.investopedia.com/ask/ ... certain age when you don't have to file income tax return? what age can you stop filing?

I have unfiled tax returns, what can I do?

Description : I have unfiled tax returns, what can I do?

Last Answer : Filing a past due return may not be as difficult as you think. Taxpayers should file all tax returns that are due, regardless of whether or not full payment can be made with the return ... filing and payment responsibilities after the plan is approved. However, full payment of taxes saves you money.

What federal tax credits are available for 2010 tax returns?

Description : What federal tax credits are available for 2010 tax returns?

Last Answer : There are many tax credits available for 2010. Energy credits are of big interest as this is the last year you can claim them. There are also credits for dependent care costs and charitable donations.

Is it safe to file tax returns online?

Description : Is it safe to file tax returns online?

Last Answer : As with anything online that requires you to enter personal information about yourself take caution. There are some very good and secure sites where you can file your taxes like turbo tax.

How long does it take to get a refund from my federal tax returns?

Description : How long does it take to get a refund from my federal tax returns?

Last Answer : People normally get their federal tax returns in the time period of March to April. Depending on where you are located and when you filled it out, this may differ, but usually it's near the end of the 1st quarter of the year.

What is the definition of delinquent tax returns?

Description : What is the definition of delinquent tax returns?

Last Answer : Delinquent tax returns are tax returns that have been filed late, or not at all; usually this incurs penalties and fees that increase over time, so it's best to pay your taxes fully and on time.

How do you file small buiness tax returns?

Description : How do you file small buiness tax returns?

Last Answer : If your business has been large and successful, you might have trouble taking care of your company tax returns on your own. I would recommend getting a tax advisor who can professionally help your ... do the returns correctly. You will recieve special tax forms and will have to claim your income.

How to Find Help Filling Out Income Tax Returns?

Description : How to Find Help Filling Out Income Tax Returns?

Last Answer : During the spring every year all people who earn a wage in the country are required to fill out a federal tax return. While people have to do this every year, federal tax return documents ... with insight into how you can take advantage of federal tax credits and deductions to reduce your liability.

For which of the following services is a CPA professional not required to be independent? a. Tax returns preparation b. Audits of historical financial statements c. Review engagement d. Examination of a forecast

Description : For which of the following services is a CPA professional not required to be independent? a. Tax returns preparation b. Audits of historical financial statements c. Review engagement d. Examination of a forecast

Last Answer : Tax returns preparation

For which of the following services is a CPA professional not required to be independent? a. Tax returns preparation b. Audits of historical financial statements c. Review engagement d. Examination of a forecast

Description : For which of the following services is a CPA professional not required to be independent? a. Tax returns preparation b. Audits of historical financial statements c. Review engagement d. Examination of a forecast

Last Answer : Tax returns preparation

Which of the following is an example of an assurance engagement?a. Management advisory services b. Reporting on financial statements prepared using other comprehensive basis of accounting. c. compilation of financial information d. preparation of tax returns

Description : Which of the following is an example of an assurance engagement? a. Management advisory services b. Reporting on financial statements prepared using other comprehensive basis of accounting. c. compilation of financial information d. preparation of tax returns

Last Answer : Reporting on financial statements prepared using other comprehensive basis of accounting.

Ethically, the auditor could: a. Advertise only as to his expertise in preparing income tax returns. b. Base his audit fee on a percentage of the proceeds of his client’s stock issue. c. Perform an examination for a financially distressed client at less than his customary fees. d. Own preferred stock in a corporation which is an audit client.

Description : Ethically, the auditor could: a. Advertise only as to his expertise in preparing income tax returns. b. Base his audit fee on a percentage of the proceeds of his client's stock issue. c. Perform ... at less than his customary fees. d. Own preferred stock in a corporation which is an audit client.

Last Answer : Perform an examination for a financially distressed client at less than his customary fees.

Non-assurance engagements include all of the following except a. Compliance audit. b. Management consulting. c. Agreed-upon procedures. d. Preparation of tax returns where no conclusion is expressed.

Description : Non-assurance engagements include all of the following except a. Compliance audit. b. Management consulting. c. Agreed-upon procedures. d. Preparation of tax returns where no conclusion is expressed.

Last Answer : Compliance audit.

Which of the following engagements is covered by the Framework for Assurance Engagements? a. Consulting engagements b. Preparation of tax returns c. Independent financial statements audit d. Agreed-upon procedures

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Last Answer : Independent financial statements audit

Do you have a way of discouraging a persistent cardinal from continuously flying from a nearby tree directly into a window of our home He isn 't getting hurt and keeps flying into the window non-stop. He returns every year and stays here for months!?

Description : Do you have a way of discouraging a persistent cardinal from continuously flying from a nearby tree directly into a window of our home He isn 't getting hurt and keeps flying into the window non-stop. He returns every year and stays here for months!?

Last Answer : He or she is sees his reflection in the window. I would put a picture of something uncomfortable for the bird (owl, hawk, etc) in the window. A best way to keep a cardinal from continuing to fly into your window is to put a different colored curtain up. They are attracted to certain colors.

A person walks from point P to point Q along a straight road ¡n 10 minutes, then turns back and returns to point R which is midway

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A ball thrown vertically upwards from a point P on earth reaches a point Q and returns back to earth striking at a point R.

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Last Answer : A ball thrown vertically upwards from a point P on earth reaches a point Q and returns back to ... the motion of the ball (Neglect air resistance).

What part of the food chain returns nutrients back to the soil?

Description : What part of the food chain returns nutrients back to the soil?

Last Answer : Feel Free to Answer

If a body floating in a liquid returns back to its original position, when given a small angular displacement, the body is said to be in (A) Neutral equilibrium (B) Stable equilibrium (C) Unstable equilibrium (D) None of these

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Mark correct option related to preservation period a) All records of mail department except due mail & sorting list 1 year b) Book of post marks(MS 18) & Postman book (MS-27) 1 ½ year c) Enumeration returns (MS-6) 2 years d) All monthly statistical registers 3 years e) All of the above

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Last Answer : e) All of the above

In which case the conversion rate optimization results in diminishing returns? a. When the conversion rate is 30% b. In 5 years c. When you don't notice any dramatic increase in results d. Never

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When does conversion rate optimization give diminishing returns? A. Once your conversion rate is 30% B. In 5 years C. Once you don't see a dramatic increase in results D. Never

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Do accountants have to keep a tax return transcript for more than ten years on file?

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Last Answer : The IRS has a strict set of rules for everyone who prepares taxes. So due to these rules it is required that Accountants keep a tax return transcript on file for at least 7 years. Some though will keep them on file for a lot longer.

We own our home with no mortgage. My husbands been unable to work for the past 10 years. He gets no disability, we are barely surviving on what I can earn cleaning homes. Our home is being foreclosed by the great state of NY for back taxes. Is there help?

Description : We own our home with no mortgage. My husbands been unable to work for the past 10 years. He gets no disability, we are barely surviving on what I can earn cleaning homes. Our home is being foreclosed by the great state of NY for back taxes. Is there help?

Last Answer : The New York State Attorney General's Office offers resources for avoiding foreclosure. Click here to access a list of counselors by county: http://nysdhcr.gov/Programs/ForeclosurePrevention/CounselListing. ... 23, 2009)for the serious individuals ready to make some changes- limited spots are avai

i believe we all evolved from monkeys and that none of us came out of our mum and that i used to be an orange monkey 100 years back. what do you think?

Description : i believe we all evolved from monkeys and that none of us came out of our mum and that i used to be an orange monkey 100 years back. what do you think?

Last Answer : Answers is the place to go to get the answers you need and to ask the questions you want

Suppose d = {“john”:40, “peter”:45}, what happens when we try to retrieve a value using the expression d[“susan”]? a) Since “susan” is not a value in the set, Python raises a KeyError exception b) It is executed fine and no exception is raised, and it returns None c) Since “susan” is not a key in the set, Python raises a KeyError exception d) Since “susan” is not a key in the set, Python raises a syntax error

Description : Suppose d = { john :40, peter :45}, what happens when we try to retrieve a value using the expression d[ susan ]? a) Since susan is not a value in the set, Python raises a KeyError ... Python raises a KeyError exception d) Since susan is not a key in the set, Python raises a syntax error

Last Answer : c) Since “susan” is not a key in the set, Python raises a KeyError exception

Do you think we should get a tax break for donating to our friends or family in need?

Description : Do you think we should get a tax break for donating to our friends or family in need?

Last Answer : answer:Interesting question. My first reaction is that if you can't afford to just do it, then don't. Obviously, the people you knew could afford to give that away, of they wouldn't have. What ... It would be incentive to charity with the deduction helping offset the loss you'd take not trading in.

Wait, what? The right thinks if they reduce federal spending then we will climb out of all our problems and all the needs that these tax dollars were meeting will evaporate?

Description : Wait, what? The right thinks if they reduce federal spending then we will climb out of all our problems and all the needs that these tax dollars were meeting will evaporate?

Last Answer : answer:No, no, no. That would just be pushing the problem down so congress can look good playing high and mighty and not have to deal with it or the peeved, headache inducing, voters. ... , you die, whichever. Please avoid standing in the sarcasm for prolonged periods, it may prove disorientating.

How do we stop this ripping off of our tax dollars?

Description : How do we stop this ripping off of our tax dollars?

Last Answer : How do you (we) know they didn’t have Carpel Tunnel Syndrome?