Posted on 07/08/2010 8:14:31 AM PDT by Robert A Cook PE
The following are the IRS official record retention requirements. Please remember to follow them explicitly when you file a fraudulent tax return; or if you forget to file a tax return, remember to file your records indefinitely.
"Note: Keep copies of your filed tax returns. They help in preparing future tax returns and making computations if you file an amended return.
1. You owe additional tax and situations (2), (3), and (4), below, do not apply to you; keep records for 3 years.
2. You do not report income that you should report, and it is more than 25% of the gross income shown on your return; keep records for 6 years.
3. You file a fraudulent return; keep records indefinitely.
4. You do not file a return; keep records indefinitely.
5. You file a claim for credit or refund* after you file your return; keep records for 3 years from the date you filed your original return or 2 years from the date you paid the tax, whichever is later.
6. You file a claim for a loss from worthless securities or bad debt deduction; keep records for 7 years.
7. Keep all employment tax records for at least 4 years after the date that the tax becomes due or is paid, whichever is later.
I don’t think you completely understand what constitutes felony tax evasion. We’re not talking about typos or math errors, or forgetting to sign your return.
What I don’t understand is your point.
If you set out to commit a felony, you should probably be aware of the law.
Just because you’re aware of the law, doesn’t mean you
haven’t committed a felony.
My question would be how exactly the IRS defines “fraudulent”. ;-)
Just another of the Feds saying, “We own you...literally.”
That's pure BS.
The IRS must be just foolin’ with this ‘retention requirements’ stuff.
after 3 years, you should still save a copy of your 1040 and a cancelled check or copy of refund check.
It proves you filed. They cannot audit for errors after that point, but you have to prove you filed.
Please tell me your a tax attorney. My garage isn’t nearly large enough.
Oh, and any side bets that keeping records longer than 3 years will be regarded as prima facie evidence that you were defrauding the IRS?
No, the IRS will build its case against you without needing you to incriminate yourself . . . this is simply the IRS’ way of warning you that, if you plan on doing something it thinks is shady, be prepared to defend yourself.
I remember one guy who claimed (in a non-criminal case) that he never received any of the IRS' letters (some of which were sent registered mail). The IRS attorney said, "but you opened, cashed, and deposited all of your refund checks within days." The guy lost on that argument.
Not "say," but prove. Beyond a reasonable doubt. In federal court.
“To” + “Get” + “Her” = “Together”
I don’t think you completely understand what constitutes felony tax evasion. We’re not talking about typos or math errors, or forgetting to sign your return.
Presumably, they’d prefer to have some kind of smoking gun corroboration, like a “scheme” between two people, or a second set of books, or other evidence that has no explanation other than intention. But your error can still be alleged as intentional, and they have one hell of a bargaining chip when negotiating a settlement of plea.
How much? I need the money.
Any competent tax attorney can take that bargaining chip right off the table. Heck, I could do it. “Show me your cards.”
I'm sure its possible for a taxpayer to win such a case against a prosecutor with all the resources of the state at his disposal.
But I'd bet it'd feel alot like losing.
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