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Wake up to your world in 2 minutes.
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http://turbotax.intuit.com Are you wondering how long you should keep tax records? Learn about the specific record retention ...
guidelines from the IRS, and how IRS record retention can help you defend yourself against a tax audit.
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Hello, I'm Jeremy from TurboTax with important news on why you should keep copies of your tax returns. So, you've finished your tax return and sent it off to the IRS but did you remember to keep a copy for your records. If not, it may come back to haunt you at some point. The IRS encourages you to hold on to a copy of your tax return for at least three years after you file it. This is the amount of time the IRS has to audit that return and possibly increase the amount of tax you owe. If this does happen it will be hard for you to defend yourself without a copy of the return but even more important than the tax return are the documents that you use to calculate each item reported on it. This is your proof and without it it's hard to challenge the IRS agent. Keep in mind that this limitation period increases to six years if you fail to report more than 25 percent of your actual income. This extension applies even when the omission is an honest mistake. You are subject to the same three year limitation when it comes to claiming a refund. If you realize you made an error on a prior return that caused you to overpay your taxes, a lack of proof may reduce your chances of getting a refund. The good news when you file with TurboTax, you can print as many copies as you like. If you use our CD or download product, you can store a copy of your return on your computer and if you use our online product, you'll be able to access your return online as many times as you like for three years. For more tax tips and guidance, visit TurboTax.com.
Hola, soy Jeremy de TurboTax con noticias importantes sobre por qué debes guardar copias de tus declaraciones de impuestos. Así que has terminado tu declaración de impuestos y la enviaste al IRS (siglas en inglés de Servicio de Impuestos Internos). Pero, ¿te acordaste de guardar una copia para tus archivos? Si no, puede volverse en tu contra en algún momento. El IRS te invita a quedarte con una copia de tu declaración de impuestos durante al menos tres años después de que la presentaste. Esta es la cantidad de tiempo que el IRS tiene para auditar esa devolución y posiblemente aumentar la cantidad de impuestos que debes. Si esto sucede, será difícil para ti defenderte sin una copia de la declaración. Pero aún más importante que la declaración de impuestos son los documentos que se utilizan para calcular cada elemento notificado en ella. Esta es tu prueba y sin ella es difícil de desafiar al agente del IRS. Ten en cuenta que este plazo de limitación aumenta a seis años si no reportas más del 25% de tu ingreso real. Esta extensión se aplica incluso cuando la omisión es un error honesto. Está sujeto a la misma limitación de tres años cuando se trata de reclamar un reembolso. Si te das cuenta de que cometiste un error en una previa declaración que te hizo volver a pagar impuestos, la falta de prueba puede reducir tus probabilidades de obtener un reembolso. La buena noticia es que cuando presentas con TurboTax, puedes imprimir tantas copias como quieras. Si utilizas nuestro CD o descargas el producto, puedes guardar una copia de tu declaración en el equipo y si utilizas nuestro producto en línea, serás capaz de acceder a tu declaración en línea tantas veces como desees durante tres años. Para obtener más consejos y orientación sobre impuestos, visita TurboTax.com.