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Take it from someone who has a hoard of legal accordion files stashed away in a hope chest: It’s a good idea to keep your tax records. However, if you’re going through a phase of trying to get rid of everything, the IRS is (sort of) clear on how many years to keep the paper trail. How Long To Keep Your Tax Records Let’s go in descending order: Forever: If you never filed a return, or if you filed a fraudulent return (neither of which is recommended) 7 years: If you file a claim for a loss from worthless securities...

A former Delta Airlines worker and his crony accused of stealing a bag containing more than $258,000 from JFK Airport “made a tremendous mistake” – leaving receipts behind in their getaway car that led to their arrests, prosecutors said as their trial kicked off Wednesday. The FBI found the car with the incriminating receipts five days after the Sept. 24, 2019 heist and arrested then-Delta ground services worker Quincy Thorpe and his pal, Emanuel Asuquo Okon, who are now on trial in Brooklyn federal court for the theft of the Miami-bound cash – which has not been recovered. “The money...

The federal government is pulling in less tax revenue than expected, prompting concerns the early numbers could leave far less time for Congress to strike a deal to avoid a default on the national debt. Before tax figures started rolling in after last week’s filing deadline, Congress appeared to have until sometime in late July or August to pass legislation to raise or suspend the debt limit. But some experts have warned that a major shortfall in tax revenue means the U.S. government could run out of cash as early as June.

Former President Trump is opening up his wallet to save Herschel Walker, whose Senate campaign has been reeling from allegations he paid for a woman to abort his child. Trump endorsed the one-time NFL star early in Georgia’s GOP Senate primary and Walker’s showing next month will be a big test of the former president’s continued influence with voters. Make American Great Again Inc., a Trump-backed Super PAC, injected $750,000 into ad spending in the Peach State in support of Walker, Politico reported Friday. An ad for the group now airing leans heavily into culture war issues and attacks against...

Georgia Republican Senate candidate Herschel Walker is denying allegations that surfaced in the left-wing Daily Beast Monday that he paid for a woman’s abortion in 2009. Walker told Fox News’s Sean Hannity Monday night when asked if he knew who the unnamed woman was, “I have no idea, but it is a flat-out lie.”

Kassam has the receipts  “the fu*king spy chief of China” 

Thousands of small-business owners have received letters from the Internal Revenue Service questioning whether they are underreporting their business income, a harbinger of a broader initiative aimed at boosting federal tax receipts and ensuring compliance. The program is the latest move in the agency's effort to combat what it sees as a widespread problem: failure by businesses, including mom-and-pops, to report all cash sales in order to minimize tax bills. Tax officials say the letters don't constitute an audit and instead are simply a request for more information. Some business owners and some lawmakers, however, call the new IRS program...

The IRS spent over 4 million taxpayer dollars on a conference in 2010, CNN reported Tuesday evening. The actual amount wasted is unknown because the IRS was not required to keep its receipts, something that they require taxpayers to do. CNN correspondent Dana Bash discussed the excesses of the agency in a report on 360, including gifts, video spoofs and upscale hotel rooms for agency higher-ups, but the cost of those and the conference itself was unclear because the IRS had engaged in poor record-keeping: ANDERSON COOPER: I’ve got to go back to something you said. The IRS facing this...

OK, so a lot of rich people live in New York. We know that. It's not news. But it hits home in a non-abstract way when, if you're not one of the very rich, it's rubbed in your face at your local bank. These two ATM receipts were discovered at a local Chase bank by my old colleague Tony Case, the special reports editor at Adweek. He gave me permission to publish his photo of them. They show that someone recently withdrew $300 in cash on a balance of $1 million, just after someone else tried to withdraw $100 on...

LAS VEGAS -- A security researcher involved with the Wikileaks Web site was detained by U.S. agents at the border for three hours and questioned about the controversial whistleblower project as he entered the country on Thursday to attend a hacker conference, sources said on Saturday. He was also approached by two FBI agents at the Defcon conference after his presentation on Saturday afternoon about the Tor Project. Jacob Appelbaum, a Seattle-based programmer for the online privacy protection project called Tor, arrived at the Newark, New Jersey, airport from Holland flight Thursday morning when he was pulled aside by customs...

In the first seven months of fiscal 2008, there was a deficit of $152.2 billion, compared with a deficit of $80.8 billion a year earlier. [Billions of dollars] Cumulative total, first 7 months: (1) Fiscal year 2007 1,504.6 1,585.3 -80.8 Fiscal year 2008 1,549.7 1,701.9 -152.2

Dear Friend, I don't need to tell you that gas prices are high, but there is someone I do need to tell... Senate Majority Leader Harry Reid. ...and I need your help to do it. Please mail me your gas receipts and a short note about what your family has had to sacrifice because of out-of-control prices at the pump. I'll bundle together all the receipts and stories I receive and send them to Senator Reid. Together, we will send a message to Washington and show Harry Reid that high gas prices are hurting Oklahomans. Please mail your gas receipts...

It's fun to repeat things. I posted a food memories thread last year. Let's revise it and talk about old-fashioned recipes.

U.S. tax receipts from individuals hit a record one-day high of $48.7 billion on April 24, a Treasury Department official said on Wednesday. The previous record was $36.4 billion, set on April 25, 2006, said Jennifer Zuccarelli, a Treasury spokeswoman. The record reflects taxes not withheld from individuals over the course of the year, but paid to the government before this year's April 17 income-tax deadline. While some of those tax payments come from taxpayers who withheld less tax from their paychecks than they owed, much of it was owed on income from investments or profits. "This reflects the fact...

WASHINGTON - State tax receipts jumped nearly 10 percent last year as a strong national economy increased individual earnings and corporate profits. Most states showed increases without raising tax rates, meaning the gains were caused primarily by an expanding economy, said Corina Eckl, fiscal program director for the National Conference of State Legislatures. "It's absolutely attributable to an improving national economy," Eckl said. "Very few, very modest tax changes happened last year." Nationally, states collected a total of $649 billion in taxes in the 2005 budget year, which ended in June for most states, according to a report Thursday by...

Tax Receipts Fell $6 Billion After Sept. 11, Report Says By IAN URBINA Published: April 5, 2005 The Sept. 11 attacks cost New York almost $6 billion in city and state tax revenue through the fiscal year 2003, according to a federal report being released today that gives the most authoritative accounting yet of their impact on public coffers. New York City faces an additional loss of $550 million in taxes annually for fiscal years 2004 and 2005, according to the report, which is based on estimates from the New York City Office of Management and Budget. The numbers are...

The purpose of FreeRepublic.com's multiple message boards is to limit the topics for each board to particular topics. Posting the same message on all the boards defeats the purpose of multiple-boards for special topics. It is very annoying to see the same message on every bulletin board. PLEASE! DO THE READERS A FAVOR. STOP CROSS-POSTING YOUR MESSAGES!

An article titled "Laffering all the Way to the Bank" appeared in the National Review Online on April 30, 2004. It can be found online at http://www.nationalreview.com/nrof_buzzcharts/buzzcharts200404300829.asp. It contains a chart showing that federal tax receipts increased from $825 billion in the first half of fiscal year 2003 to $850 billion in the first half of fiscal year 2004. Following are the final two paragraphs of the article: President Bush’s most recent tax cut proves that tax rates were, in fact, too high. This is demonstrated through the simple fact that the first half of fiscal year 2004 is showing...

An article titled "Revenues Up, Deficits Down" appeared in the National Review Online on March 25, 2004. It can be found online at http://www.nationalreview.com/nrof_buzzcharts/buzzcharts200403250832.asp. The article purports to be referencing the updated long-term fiscal forecast released last week by the Congressional Budget Office. Following is an excerpt: CBO projections show the deficit falling next year and the year after. In fact, the deficit falls in 10 of the 12 years covered by this forecast, rising only a miniscule amount in the other 2 years. There’s also good news in the revenue department: As you can see in the chart above,...

In the recently released budget, there is a section that contains long-run budget projections through 2080. Graphs and tables summarizing those projections can be found at: http://home.att.net/~rdavis2/pro2005.html Also on that page are the following points that can be drawn from the data: 1) Projections of the long-run public debt have risen steadily over the previous three budgets. In the 2005 Budget, this trend continues in the shorter term with the projection of the public debt in 2010 being 10.1% higher than it was in last year's budget. Over the longer term, however, the public debt is projected rise slightly less...