“How long should I keep my tax paperwork?” This is a tax question people ask me regularly, often while they are pleading to be released from the towering burden of mounds and mounds of tax records. It’s probably not practical to store the paperwork forever, but you know my “rule of records”: the minute you [...]
It’s not a great idea to amend tax returns needlessly. The IRS can only audit you for three years after you file a tax return. When you amend a return, however, you start that three-year clock running again. There may be things that you can no longer prove or that are too complicated to explain. [...]
If you haven't already finished your holiday shopping, you've got just a few hours left, but many consumers are already anticipating their after-Christmas holiday returns. Merry Christmas, but let's not have too many happy returns. Gift returns, that is.