helovector
Level 1
04-11-2022
09:35 AM
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Tax return retention has been required by the IRS for decades, why bother with locking the return and denying the preparer a tool to which to answer client's "what if" tax scenarios?
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itonewbie
Level 15
04-11-2022
09:45 AM
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There's a clear benefit and that's to protect the integrity of the return that was e-filed, for example, in case you need to amend that return later, only to find that something has changed either by another user inadvertently or by a subsequent system update.
That is independent of paper or electronic copies everyone should retain on the file as part of their record retention policy.
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Still an AllStar
Still an AllStar
Level 11
04-11-2022
09:59 AM
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The IRS technically does not require preparers to retain a copy of the tax return. A list of names / SSNs / main form filed is sufficient to meet the IRS retention requirements.