With the next tax season rolling up fast, the IRS is reminding taxpayers of a few points. It’s important to keep copies of previous-year returns for at least 3 years, or 7 years if you claim certain security or debt losses. The information on those returns may be needed for current-year filing or to answer IRS questions. Return transcripts can be ordered for free online and by mail or phone, but plan ahead, as delivery can take up to 30 days. If you need a copy of an actual return, it can take up to 75 days and cost $50. Check out this article from the IRS for additional details. © 2018

Contact the CG Team with questions via the form to the right or call 732.676.4100.

“IR-2018-225: Get Ready for Taxes: Get 2018 Tax Documents Ready for Upcoming Filing Season.” Internal Revenue Service. Accessed December 03, 2018. https://www.irs.gov/newsroom/get-ready-for-taxes-get-2018-tax-documents-ready-for-upcoming-filing-season.