Practical Perspectives: Key financial issue for you and your family – Cleaning up tax records can help fend off an IRS audit

Description

Abstract: In this issue’s “Practical Perspectives,” we meet Mike and Beverly, a married couple with two young daughters, who recently decided to finally get their house in order — literally. Beverly’s job was to organize the family’s financial records and, when she went to do so, she began to get frustrated about what tax-related documents she needed to keep and for how long. Wisely, she called her financial advisor, who had some answers. (Updated 6/11/12)