Your Tax Documents Are Here!
Keep All of your Tax Documents secure, in one location and organized by year.
Meet the IRS 3, 6 & 7 Year Records Retention Requirements
Easily and Securely Share Tax Documents with Paid Preparers
Ideal Users
TaxFile solves all of your tax records storage and retention problems. Store all of your clients tax documents in one place every year and satisfy the IRS records retention requirements without using up your company’s network resources. Upload completed tax returns to gather client signatures for e-filing authorization.
Record Retention Requirements IRC Section 6695(d)
Tax preparers are required to keep a copy of each return—or a record of the taxpayer’s name and taxpayer ID number—for
at least 3 years after the return is presented for signature. Failure to do so can result in a penalty of $65 per
occurrence, up to a maximum of $32,500 per year.
IRS Tax - Preparer - Penalties
TaxFile Benefits around 6695 (d)
TaxFile allows Paid Preparers to meet the legal requirements of IRC 6695 (d) and avoid penalties without using internal network storage space or the human capital resources typically needed to scan or physically file documents. Documents can be uploaded by the taxpayer, shared with the tax preparer and stored for the retention period. Paid Preparers can upload completed tax returns for e-signatures required for e-filing.
TaxFile meets all of your tax document storage and sharing needs. Store all of your tax documents in one place every year and know where they are at all times. Easily share them with your paid preparer using TaxFile "Account Share" feature and eliminate the time required to attach documents for emailing.
Taxpayers/Individual Record Retention Requirements
All individual taxpayers are required to keep copies of their tax records to support positions taken on their tax returns until the
Period of Limitations expires. This period is based on the amount of time taxpayers are allowed to amend their return or the IRS
can assess additional tax.
IRS.Gov | How long should I keep records?
TaxFile allows Taxpayers to meet the Period of Limitations Requirement that applies to Income Tax Returns and eliminates the worry of not being able to locate past years tax returns. Taxpayers can upload their documents for safe keeping and easily share or retrieve them when needed.
About
TaxFile is a cloud-based platform designed specifically for tax preparers and taxpayers to share and store tax documents in a secure environment that meets FTC and IRS requirements for safeguarding taxpayer data and document retention.
Questions
Contact us for any questions regarding features or pricing.