How long should I keep my tax documents?
Refer to the document Record of Retention Requirements for the suggested retention period by document. If after reviewing this document you still have questions, PLEASE contact our office before you shred anything.
Do I (we) have to sign the e-file form(s)?
The IRS and state taxing authorities require that we have an original signature on the e-file documents.
How long do you keep my client tax records at your office?
In general, we are required by law to keep copies of your tax returns for three years. In some instances we have been able to keep client tax returns and supporting documents in electronic format beyond the required three-year period but this cannot be guaranteed in all cases.
Can I sign the e-file form for my spouse, adult child (children 21 years of age or older), or parent?
The IRS and state taxing authorities will not allow you to sign for anyone without a valid power of attorney.
If you keep electronic copies of my return why do you request 2-3 business days to process my request for a paid copy?
We have access to electronic tax return copies but must generate password protected PDF files for email purposes. Generating the PDF files and creating the emails take time which we must fit into our schedule.
I haven't received all my tax documents...Should I reschedule my tax appointment?
We recommend that you keep your appointment. Bring in all of the documents you have received so far. Get us the missing information as soon as it is available so we may complete the return.
I have kept EVERY black tax return folder I have received. Do I need to keep them indefinitely? Which documents can safely be shredded and which documents should be kept?
Please reference our Record Retention Requirements brochure to determine which documents you should keep and for what period of time.
How many times can I reschedule my tax appointment?
We must limit this request to once per year. Repetitive rescheduling limits the openings available for our clients waiting for an appointment. During tax season we have a finite number of appointment slots available. If you reschedule your appointment and we are unable to fill that time slot, we will never be able to recover the lost revenue for this time. Accordingly, we request that you refrain from rescheduling appointments unless it is absolutely necessary. We send appointment reminders in January each year and also call or email you the day before your appointment as a reminder.
If I’m ever audited, could the IRS request returns with supporting documentation beyond the three year period?
Generally, the statute of limitations for the IRS to assess taxes on a taxpayer expires three (3) years from the due date of the return or the date on which it was filed, whichever is later. The three-year limit is doubled to six years if the IRS finds that a taxpayer omits from gross income an amount that exceeds 25 percent of the stated gross income. The IRS has no time limit when an audit pertains to assessment of tax if a return is false or fraudulent, reflects a wilful attempt to evade taxation or when no tax return at all is filed.
How does a tax extension work?
Because you must pay late payment penalties and interest on any unpaid tax after the April 15 filing deadline, when you file an extension you want to estimate your tax liability as accurately as possible. Consequently, we need as much information as possible to accurately estimate your tax liability. Extensions that are filed based upon inaccurate estimates can be ruled invalid by the IRS.
I need to reach my tax professional. What is the best way to do that?
For most of the year, the easiest way to reach your tax professional is either by calling our office or sending an email.
During tax season (roughly February 1st to April 15th), getting in touch with your tax professional may be more difficult due to a high volume of client meetings at that time. The best way to reach your tax professional is by email. When sending an email we suggest waiting 24 hours for a reply before following up with a phone call.
What does it cost to file a tax extension?
We charge an additional flat fee for each extension prepared (one for federal and one for each state). The fees will be explained when you meet with your tax professional.