Unused ITINS To Expire After Five Years
Individual Taxpayer Identification Numbers (ITINs) will expire if not used on a federal income tax return for five consecutive years, the Internal Revenue Service announced today. To give all interested parties time to adjust and allow the IRS to reprogram its systems, the IRS will not begin deactivating ITINs until 2016.
The […]
Managing Your Tax Records After You Have Filed
Keeping good records after you file your taxes is a good idea, as they will help you with documentation and substantiation if the IRS selects your return for an audit. Here are four tips from the IRS about keeping good records.
- Normally, tax records should be kept for three years.
- Some documents — such as records relating […]