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The Documentation Must Haves – Guilty until proven innocent
The Documentation Must Haves – Guilty until proven innocent Taking valid deductions on your tax return is your right. Defending your deductions is becoming harder and harder to do. Read this to make sure your deductions rule the day. When faced with questions on your tax return deductions, it is getting all too common for tax authorities to deny everything and then make you prove that your deductions are valid. Do not let this happen to you. Here are some suggestions. The one-two punch. To prove your deduction most auditors are looking for two key documents. Miss one of the
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IRS Gets Transcript Service Back On-line – Be prepared for more security hurdles
IRS Gets Transcript Service Back On-line – Be prepared for more security hurdles After being off-line for over a year, the IRS recently announced the reactivation of their popular ”Get Transcript” service. Here is what you need to know. A year ago the IRS closed down their popular “Get Transcript” online service after a severe security breach. With new security protocols now in place, this IRS service is available once again. Here is what you need to know. Background. Last spring the IRS announced their “Get Transcript” online system had been compromised. The nature of the break-in suggested that thieves
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Tips to Organize Your Tax Records
Tips to Organize Your Tax Records If your tax records are a bit of a mess, here are some ideas to help to get better organized. The time to organize your tax records is now. Waiting until the end of the year or, even worse, waiting until you are audited can lead to headaches. Here are some tips to get on top of your tax records. Storage Hints Organize your records by tax year. At the start of each year create the current year’s files. Here are some filing suggestions. Tax return and support. Create a file with copies of
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