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Economic Indicators- Major Economic Indicators Latest NumbersConsumer Price Index (CPI): unchanged in Feb 2010 News Release Historical Data Unemployment Rate: 9.7% in Mar 2010 News Release Historical Data Payroll Employment: +162,000(p) in Mar 2010 News Release Historical Data Average Hourly Earnings: -$0.02(p) in Mar 2010 News Release Historical Data Producer Price Index (PPI): -0.6%(p) in Feb 2010 News Release Histo […]
- Major Economic Indicators Latest Numbers
- Consumer News
- BBB Warns that iPad Scammers Are Already at WorkEven before the iPad was released to the public, scammers were busy devising ways to take advantage of early adopters. Better Business Bureau warns eager shoppers to stay away from offers to become a "tester" just to get a free iPad. Read more... […]
- BBB Warns that iPad Scammers Are Already at Work
- Economic Analysis
- Personal Income and Outlays, February 2010Personal income increased $1.2 billion, or less than 0.1 percent, and disposable personal income (DPI) increased $1.6 billion, or less than 0.1 percent, in February, according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) increased $34.7 billion, or 0.3 percent. In January, personal income increased $30.4 billion, or 0.3 percent […]
- Personal Income and Outlays, February 2010
- Budget Office
- The Effects of Health Reform on the Federal BudgetThis morning I made a presentation to the World Health Care Congress on the effects of the recently enacted health reform legislation on the federal budget. Everything that I said was drawn from cost estimates and other letters that CBO has released. I began by reviewing the budget estimates done by CBO and the staff of the [...] […]
- The Effects of Health Reform on the Federal Budget
- Economic Outlook
- The Effects of Health Reform on the Federal BudgetPresentation by CBO Director Doug Elmendorf to the World Health Care Congress […]
- S. 2881, FCC Commissioners' Technical Resource Enhancement ActCost estimate for the bill as ordered reported by the Senate Committee on Commerce, Science, and Transportation on March 24, 2010 […]
- S. 2871, A bill to make technical corrections to the Western and Central Pacific Fisheries Convention Implementation Act, and for othe purposesCost estimate for the bill as ordered reported by the Senate Committee on Commerce, Science, and Transportation on March 24, 2010 […]
- S. 1252, Oceans and Human Health Reauthorization Act of 2010Cost estimate for the bill as ordered reported by the Senate Committee on Commerce, Science, and Transportation on March 24, 2010 […]
- H.R. 1258, Truth in Caller ID Act of 2010Cost estimate for the bill as ordered reported by the House Committee on Energy and Commerce on March 10, 2010 […]
- The Effects of Health Reform on the Federal Budget
5 Tips For Great Record Keeping
There are many records you have that may help document items on your tax return. You’ll need this documentation should the IRS select your return for examination. Here are five tips from the IRS about keeping good records.
Normally, tax records should be kept for three years.
Some documents — such as records relating to a home purchase or sale, stock transactions, IRA and business or rental property — should be kept longer.
In most cases, the IRS does not require you to keep records in any special manner. Generally speaking, however, you should keep any and all documents that may have an impact on your federal tax return.
Records you should keep include bills, credit card and other receipts, invoices, mileage logs, canceled, imaged or substitute checks, proofs of payment, and any other records to support deductions or credits you claim on your return.
For more information on what kinds of records to keep, see IRS Publication 552, Recordkeeping for Individuals, which is available at IRS.gov or by calling 800-TAX-FORM (800-829-3676).