Question: How long do I have to keep my federal income tax reports and receipts?
Answer: The Internal Revenue Service says you should keep copies of your actual tax returns indefinitely, either on paper or as electronic files (or both). They help in preparing future tax returns, amending a filed return and verifying that you filed as required if the IRS loses track.
How long to keep supporting documents for those tax returns varies. Honest filers can discard many supporting documents after three years, according to the IRS, which explains rules for various circumstances on its website, www.irs.gov.
In general, taxpayers must keep supporting documents until the “period of limitations” for that tax return expires, referring to the time frame during which the IRS can audit you and assess additional tax, or you can amend your return to claim a missed refund or credit. The IRS says:
>> Keep a copy of your filed tax return indefinitely.
>> Keep supporting documents for three years after filing except in certain cases (see below).
>> Keep records for seven years if you file a claim for a loss from worthless securities or bad debt deduction.
>> Keep records for six years if you fail to report required income that equals more than 25% of the gross income shown on your return.
>> Keep records indefinitely if you were required to file a return but didn’t.
>> Keep records indefinitely if you file a fraudulent return.
>> Keep employment tax records for at least four years after the date the tax is due or paid, whichever is later.
>> Keep records relating to property until the limitation period expires for the year you dispose of the property.
Q: Why did the Transportation Security Administration allow former death-row inmate Isaiah McCoy to pass through an airport checkpoint in Honolulu even though he wasn’t carrying an ID?
A: McCoy passed through security by using TSA’s established “identity verification process” for passengers who have a plane ticket but not a valid ID, said Lorie Dankers, a TSA spokeswoman. The process is explained on the TSA’s website under the heading “Forgot Your ID?” (808ne.ws/tsanoid).
“In the event you arrive at the airport without valid identification, because it is lost or at home, you may still be allowed to fly. The TSA officer may ask you to complete an identity verification process which includes collecting information such as your name, current address, and other personal information to confirm your identity. If your identity is confirmed, you will be allowed to enter the screening checkpoint. You will be subject to additional screening, to include a pat-down and screening of carry-on property,” the website says. “You will not be allowed to enter the security checkpoint if your identity cannot be confirmed, you choose not to provide proper identification or you decline to cooperate with the identity verification process.”
Dankers said that in some cases law enforcement may be called upon to confirm a traveler’s identity. McCoy did face additional screening at the checkpoint because he used this method, she said.
Your question was prompted by a Honolulu Star-Advertiser story (808ne.ws/1011sty) that said McCoy went to the Honolulu airport without identification Oct. 7 hoping to catch a flight to Los Angeles. The story said TSA let him pass through security after a state sheriff deputy identified him. McCoy was arrested before boarding his flight; the terms of his bail did not allow him to leave the jurisdiction while awaiting trial for second-degree robbery.
Honolulu Star-Advertiser reporter Rob Shikina contributed to this column.
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