Q. How long should we keep our tax records before getting rid of them?
A. It depends. According to the IRS: " Keep records for 3 years if situations (4), (5) and (6) below do not apply to you.
1. Keep records for 3 years from the date you filed your original return or 2 years from the date you paid the tax, whichever is later, if you file a claim for credit or refund after you file your return.
2. Keep records for 7 years if you file a claim for a loss from worthless securities or bad debt deduction.
3. Keep records for 6 years if you do not report income that you should report, and it is more than 25% of the gross income shown on your return.
4. Keep records indefinitely if you do not file a return.
5. Keep records indefinitely if you file a fraudulent return.
6. Keep employment tax records for at least 4 years after the date that the tax becomes due or is paid, whichever is later."
If the records are connected to property: "Generally, keep records relating to property until the period of limitations expires for the year in which you dispose of the property. You must keep these records to figure any depreciation, amortization, or depletion deduction and to figure the gain or loss when you sell or otherwise dispose of the property.
If you received property in a nontaxable exchange, your basis in that property is the same as the basis of the property you gave up, increased by any money you paid. You must keep the records on the old property, as well as on the new property, until the period of limitations expires for the year in which you dispose of the new property." Check irs.gov for details.
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Q. On 1650 the Fan, why aren’t they carrying Amy Lawrence the CBS sports announcer anymore?
A. According to Cole Blair with Coloff Media: "For both audience and technical related reasons we have made three programming changes on The Fan. Fox Sports Radio's 'Ben Maller Show' replaced Amy Lawrence overnights from 1-5 a.m. 'Reiter Than You' with Bill Reiter of CBS Sports replaced 'The Doug Gottlieb Show' and 'The Odd Couple' from Fox Sports Radio weeknights 6-9 p.m. And finally our weekend programming is now exclusively Fox Sports Radio. Listeners should feel welcome to email Cole@1650TheFan.com if they have any additional questions."
Q. Is the new ICON Donuts & Sweetery a chain or privately owned?
A. It is privately owned by local Cedar Valley residents.
Q. When the cameras catch you speeding, how many tickets can you get before you lose your license? Do those tickets count against you?
A. Citations from automated traffic enforcement cameras do not count against your state driving record, largely because they do not identify the actual driver of the vehicle.
Q. Is it true that unlicensed farm vehicles are legal to drive on the city streets in Raymond?
A. Unlicensed tractors can be driven on the streets in Raymond. Grain haulers are required to be licensed just like vehicles.
Calls are taken on a special Courier phone line at 234-3566. Questions are answered by Courier staff and staff at the Waterloo Public Library.