![]() ![]() It does not provide for reimbursement of any taxes, penalties, or interest imposed by taxing authorities and does not include legal representation. Free Worry-Free Audit Support is available only for clients who purchase and use H&R Block desktop software solutions to prepare and successfully file their 2022 individual income tax return (federal or state).For more information, visit the H&R Block Newsroom. In fiscal 2016, H&R Block had annual revenues of over $3 billion with 23.2 million tax returns prepared worldwide. H&R Block also offers adjacent Tax Plus products and services. Tax return preparation services are provided by professional tax preparers in approximately 12,000 company-owned and franchise retail tax offices worldwide, and through H&R Block tax software products for the DIY consumer. ![]() (NYSE: HRB) is a global consumer tax services provider. For more information or to schedule an appointment, find a local office online or call 1-800-HRBLOCK. MyBlock users can also get free access to tax advice and year-round planning tools, prepare their taxes online and schedule an appointment at a local H&R Block office. They can do so with MyBlock, which has bank-level encryption technology, multi-layer authentication and other important safeguards. ![]() Taxpayers should keep these tax records and supporting financial documents safe. “For instance, if you’re not deducting rental expenses or claiming a home office deduction, you probably don’t need to save utility bills.” Don’t just keep documents – keep them secure “Ultimately, whether or not you keep supporting documents, and how long you keep them, depends on whether you used them for your tax return or need them for other purposes,” said Orosco. Taxpayers should save their tax returns a minimum of three years but there are good reasons to save it longer than that, for example if it has business schedules (such as Schedule C) or other information they may want to refer to in the future. 1095s and certificates of exemption from the Affordable Care Act,.Closing Disclosure statements (or HUD-1 for older sales),.Tax-reporting statements like property or real estate taxes.W-2s, 1099s and other information documents,.Three years from the return due date is generally the timeframe a tax return is open for review and a taxpayer could need to substantiate information on the tax return. Taxpayers should keep most of their tax-related documents for at least three years. Three years is often sufficient for most documents These can include records of business income and expenses for as long as you own the business, property sales that resulted in net-operating or capital losses and records of home improvements or other expenditures that establish basis in a home. “The good news is that taxpayers usually need to keep only a few types of documents indefinitely,” said Orosco. “This shredding event is the perfect opportunity not only for taxpayers to safeguard their own information, but to learn best practices and other ways to protect themselves from tax identity theft.” Taxpayers need to keep only a few documents indefinitelyĭuring tax season, taxpayers often question what tax and financial documents they should shred, discard or keep. We are committed to protecting personal data ourselves and helping taxpayers protect their own information,” said Karen Orosco, senior vice president of H&R Block U.S. “Tax and other financial documents contain some of your most important information. H&R Block also offers advice on which documents to keep and for how long. local time at more than 130 offices nationwide. To help prevent this personal information getting into the wrong hands, H&R Block (NYSE: HRB) will host a free shredding event on Apfrom 1 p.m. They can sift through trash and recycling bins to hunt for personal information like a name, address and Social Security number and use what they’ve found to file fraudulent tax returns. While cyber attacks pose a major threat, not all attackers are found online. Three million Americans annually report tax identity theft and the IRS has paid out an estimated $5 billion in fraudulent returns for a single year. When to shred, discard or keep financial documents
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