Why should I store my tax returns?
· The number one reason why is weather conditions, disasters, storms and other unexpected conditions that has destroyed important information that can sometimes never be replaced. returns.
· You would want to have quick access to tax documents in case you are audited and asked to show supporting tax documents.
· Easy access, anytime, anywhere, 24/7
· You may have to go back to 3 to 5 years of tax returns to provide proof of income for tax audits lenders, creditors and to file your next years’ returns.
· You may at some point in your life apply for a mortgage or another major loan and need to provide 3 years of tax returns.
· If you have a child headed to college, you may need to get hold to your old tax return to report W-2 income records and other tax related information.
· If your child is applying for a Free Application for Federal Student Aid, AKA FAFSA, they will require a parent’s tax return for two years prior to your child's enrollment.