HomeSubscriber ServicesAll-AccessOmaha.com ContentOWH News ProductsePaper SubscribersOWH StoreNews AlertsNewsroom StaffNewspaper in EducationGoodfellowsJobs at The World-HeraldArchive6-mile stretch of Highway 75 is the road not taken Businesses and residents cope with both lanes shut at the same time, though the closure means construction should be completed perhaps twice as fast as single lane replacement. After decades looking in, Republican Dan Frei seeks chance to take action Chatelain: Smiles and scowls: How to reconcile the two Bos Curious about government salaries? Look no further Ben Sasse, Shane Osborn try to pin label of D.C. insider on each other These days, captains let others go down with ship Home ExtraDonate to Goodfellows Make a difference through The World-Herald's charity. NewsOmaha MetroNebraskaIowaCrime & CourtsOmaha Crime ReportCommunityDataNationalWorldCurbwise6-mile stretch of Highway 75 is the road not taken Businesses and residents cope with both lanes shut at the same time, though the closure means construction should be completed perhaps twice as fast as single lane replacement. After decades looking in, Republican Dan Frei seeks chance to take action Curious about government salaries? Look no further Ben Sasse, Shane Osborn try to pin label of D.C. OpinionWorld-Herald editorial: Service first is sound policing Omaha Police Chief Todd Schmaderer set a strong tone for his department’s officers with a few words to 40 new recruits. World-Herald editorial: Court affirms Nebraska’s motto Jonah Goldberg: Obama’s diplomacy dance out of step Nicholas D. SportsThe Bottom LineBig Red TodayBluejays TodayMavericks TodayBig TenPrep ZoneMidlands CollegesGoOutdoorsNE.comCWSLancersStorm ChasersNationalLocal GolfChatBlogsShatelChatelain: Smiles and scowls: How to reconcile the two Bos Pelini is 46 years old. Hard-headed and stubborn. Authentic and principled. He hasn't changed and he won't change. What he can do, however, is pull back the curtain and let people judge the whole man, not just the slice that appears on fall Saturdays after a questionable call. It may be good enough, it may not. But at least he can say we knew the... Still plenty of spring in Hastings coach’s step Chasers get wild walk-off vs. Sounds Mavericks complete sweep of Bradley Face-lift for a venerable Duncan Field Former boxer Rubin "Hurricane" Carter dies at 76 Sports ExtraFacebook: Big Red Today page The Big Red Today Facebook page is your home on the social web to get the latest Husker news, photos, updates and more. MoneyWarren WatchMoney Talks blogMoney & MarketsMy Stocks & FundsInside BusinessSilicon Prairie NewsAgricultureOmaha Chamber e-bookCurious about government salaries? Look no further You can find salaries for 8,950 employees at seven public agencies in a World-Herald database at Omaha.com/salaries. Tilly's racing to make 50 hats before the polo match MarksJarvis: Don’t put all the pennies in the kids’ college piggy bank Don’t be in a hurry to toss those tax papers Despite ‘bag lady’ fears, women leery of investing 11:30 a.m. Tuesday: Warren Watch chat Money ExtraMoney Talks blog From who's saying what to what's going in at that corner, get the latest in local business and development in our new business blog. LivingLive Well NebraskaMomahaCelebrationsInspired Living OmahaWeddingsFYINebraska Passport AdventuresJeff Corwin hopes to build connection with nature at Nebraska Science Festival Helping other kids, and other families, forge similar ties to the natural world is part of what compels him to continue sharing his far-flung, modern-day adventures. EntertainmentNightlifeMusicMovie ReviewsMovie ListingsDiningArtsCalendarTVGames & GadgetsAn early look at the new Beercade (photos) A new Beercade's only a few months away, and the owners let us look at the new space next door. This York man has nearly 5,998 more salt and pepper shakers than you do 'Tis soon Talk Like Shakespeare Day; hence be mirthful! Jon Stewart might be real king of late night Film Streams to screen 2 special-interest movies this week Country music singer Kevin Sharp dies at 43 Entertainment ExtraOmavore: Sarah Baker Hansen's food blog Reviews, dining notes and pictures from The World-Herald's food critic. Live WellFitnessNutritionSex & RelationshipsHealth & MedicineHealth ConsumerLive Well ChallengeObamacare & YouTilly's racing to make 50 hats before the polo match Ottilia “Tilly” Chapman spent three years learning to be a milliner, but her training hasn’t spared her the occasional gaffe — such as the time she sewed one of her hats to her pants. Runners move 23 tons of crushed rock to Schramm Park trails Healthcare.gov flagged in Heartbleed review: Change your password Midlands marathoners resolute after tragedy in Boston: 'We're going to keep running' Nebraska runners excited as Boston Marathon race day approaches Traveling abroad? A heads-up: Yellow fever vaccine is in short supply Live Well ExtraLocal walks, runs, races Looking for a mud run or crazy 5K? How about a marathon or bicycle race? Check out our list, we've got you covered. MomahaMom DailyBlogsWhat's for DinnerForumsMama Help Momaha’s hosting a Mommy Makeover contestWe all have those days, right? You know the ones: Our hair looks awful, our nails are chipped and our skin is breaking out. It’s on those days that many of us could really use some skillful help. Well,... Jessica Brashear: Be your child’s advocate for better health care Bri Nejad: Sunblock or Sunscreen: Which one should you be using this summer? Joe McCampbell: Momaha has a new daddy blogger Heidi Woodard: Help! I have the mentality of an 82-year old How I Do It: Personal trainer-mom pushes herself and others, all with a smile Momaha ExtraMOMAHA'S NEWSLETTER Get the latest parenting news and family happenings by signing up for momaha's weekly newsletter. Share For most of us, the drudgery of tax filing season has drawn to a merciful close. In general, taxpayers should keep a copy of their tax returns and supporting documents — everything from receipts for charitable donations to mileage logs to paperwork showing payments for mortgage interest and property taxes — for a minimum of three years from the tax-filing deadline. Typically, that’s how long the Internal Revenue Service has to initiate an audit. The agency has longer, generally up to six years, to initiate an audit in cases of fraud — say, when a taxpayer fails to report a big chunk of income. “Enrolled agents say keep all tax records for seven years just to be safe,” said Kim Lankford, contributing editor and columnist with Kiplinger’s Personal Finance magazine. Lankford recommends keeping actual tax returns indefinitely, which includes 1040 forms and main supporting forms such as Schedule A for itemized deductions and Schedule B for interest and dividend income. Keeping those documents could help in a jam, she said. “They can provide clues to all kinds of things years in the future for things you might not have thought of,” she said. For example, applying for disability insurance or a mortgage may require records verifying income going back a number of years. “(Historical) information that you can get from the IRS is limited,” she said. Lankford said keeping old tax returns helped a colleague successfully contest her Social Security benefits statement. “It showed she hadn’t earned as much as she had in one year. She was able to produce her very old tax form and get credit,” Lankford said. People who don’t want to keep any paper records can scan the originals and keep them in a digital archive, she noted. While most supporting tax documents can be safely pitched within three to six years, there are some that should be kept longer. Those include records relating to real estate, stock and mutual fund transactions, retirement accounts and business or rental property that help set a cost basis. For example, it’s good practice to keep records of the purchase price of a home and the cost of any major home improvements. “You generally aren’t taxed on home-sales profits if you’ve lived in the home for at least two of the past five years and your profit is less than $250,000 if single or $500,000 if married filing jointly,” Lankford said. But for anyone living in a home for a shorter time or having a bigger profit, adding major home improvements — not basic repairs — to the cost basis of the home can reduce the taxable gain. Anyone getting ready to throw out tax-related or other personal documents should take care to do it the right way to limit their exposure to identity theft. “ID thieves know this time of year people are going through records,” Lankford said. “They can piece (personal) information together from your trash, even if you rip it up. The IRS recommends that paper documents get cross-cut shredded into strips not exceeding 5/16 of an inch wide, or burned. For more details about what to keep and what to pitch, see IRS Publication 552, Recordkeeping for Individuals, available at IRS.gov or by calling 800-829-3676. Copyright ©2014 Omaha World-Herald. All rights reserved. This material may not be published, broadcast, rewritten, displayed or redistributed for any purpose without permission from the Omaha World-Herald. To purchase rights to republish this article, please contact The World-Herald Store. 11:30 a.m. Suit challenges a Hollywood pillar: unpaid internships - 12:31 pm6-mile stretch of Highway 75 is the road not taken Ben Sasse, Shane Osborn try to pin label of D.C. insider on each other Curious about government salaries? Look no further After decades looking in, Republican Dan Frei seeks chance to take action Metro transit recommends streetcar, rapid-transit bus line for Omaha Cause of Omaha power outage along Regency Parkway unclear Tilly's racing to make 50 hats before the polo match Suncor Energy says employee dies after work injury Can't find your pet? Social media is there to help These days, captains let others go down with ship An early look at the new Beercade (photos) This York man has nearly 5,998 more salt and pepper shakers than you do Don’t be in a hurry to toss those tax papers MarksJarvis: Don’t put all the pennies in the kids’ college piggy bank Jon Stewart might be real king of late night 'Tis soon Talk Like Shakespeare Day; hence be mirthful! Despite ‘bag lady’ fears, women leery of investing The Record: Bankruptcies, April 21 11:30 a.m. You'll never guess who the Big Omaha emcee is this year... To submit an announcement for "Inside Business", click here. For questions call (402) 444-1371 or e-mail announcements@owh.com. Want to get World-Herald stories sent directly to your home or work computer? Sign up for Omaha.com's News Alerts and you will receive e-mails with the day's top stories. GoOutdoorsNE. CopyrightTerms of UsePrivacy PolicySite MapContact UsAdvertiseHelpAppswebmaster@omaha. ©2014 The Omaha World Herald. 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