So, you have filed your taxes and now you have tax records that you need to do something with. Instead of just shoving them in the filing cabinet or in a closet or drawer somewhere, you should take the time to create a system that will allow you to preserve the records in a way that will allow you to call on them when you need them. Most people file their taxes on time each year, but they don’t work to maintain them the way that they should. It is advisable to keep your records on file for at least five years as you can be audited for past tax years at just about any time. Being audited is not the goal of anyone, but if you have your tax records all in one place you won’t have to stress about finding the paperwork and proof that you need.

Even if you prepare taxes online you should print all of the documents that you need and file them. A great way to keep all of your tax information organized is to have one file drawer dedicated to taxes. Create several folders that are dedicated to one tax year each will help you not only have all of the records that you need, but you won’t have to work to figure out what is what and from which year if you ever do have to go back and pull old information.

If you go for a free tax return from one of many companies that offer them you will want to be sure to get copies of all of the information. Just because the preparation is free doesn’t mean that you don’t need to keep all of the paperwork. The thing that many people forget is that tax preparation services aren’t responsible for your return, you are. So if you are audited in five years, it will not come back on the service provider, it will come back on you. When your taxes are file be sure that you get all of the paperwork and also be sure that you understand what was done so if there is an issue in the future you will be able to speak to what went on.

Keeping records organized is a great way to feel confident about your taxes. If you have a place where all of your tax information goes you will be able to call on the information that you need when you need it and it will also be filed away safely if you have an issue in the future. Tax documents get lost quite easily, but when you work to maintain them it can pay off well.