Now that you have filed your tax returns you may be wondering how long to retain the returns and the source documents. The Ohio Society of CPAs offers these guidelines for tax records and other important documents:

Aaaah……The week after tax season (and the first full weekend home in two and half months) is the best week in a tax accountant’s life!

If you haven’t filed your tax return by now, you should probably consider filing for an extension. It is a lot easier to file for an extension than it is to amend a return later for a mistake you made trying to rush your return to completion. Even more costly is if the IRS finds a mistake you made and assesses underpayment penalties and interest.

Generally speaking, the Ohio tax laws follow federal rules. There are, however, several important differences you should know about. This week, we will look at several of those differences.

As we explained a few months ago (TTW#116) we will occasionally print questions our clients ask as our Tax Tip of the Week article. Here are a few that we have come across so far this tax filing season:

If you were legally married on 12/31/11, the IRS considers you married for the entire year of 2011.