Many times in this space, I have mentioned how it is
important for businesses to remain open to changes to ensure they don’t get
left behind as new models and practices emerge. Much of the time this involves
being open to embracing the ever-evolving changes of our technological world.
The idea of that world ruled by technology may feel new to
those of us who can still remember a time without the internet, but it is still
a world that had undergone a lot of change in that relatively short period of
time. To showcase just how many huge changes we have already seen, PC Magazine
recently ran an
article looking at the top websites of the last 20 years.
Like, remember when AOL ruled the world? And know how you
already get a feeling of nostalgia when you write to someone who has an
@aol.com email address now?
Then there were Geocities, Tripod and Angelfire that were
some of the first companies trying to help people have their own websites.
Yahoo! used to rule the world of internet search engines,
and made some auxiliary deals to try to drive lots of traffic to its site, but
Google emerged as the company that has now become a verb. And remember how you
also used to be able to Ask Jeeves questions?
Currently, one cannot deny the ubiquity of YouTube and
Facebook. And just how much will mobile technology continue to change the
landscape of what places we visit electronically and how often?
The moral of this story is that it is not enough to say “I
know technology.” That world has trends that come and go faster than we can
appreciate in real time, and this dynamic highlights how important it is to
move along with those waves. The businesses that listen to, and heed, the
changes will be the ones who don’t disappear when the next sea change comes
through.
***
Last week, I wrote about the IRS and its efforts to make
taxpayers aware of security concerns. In its continuing efforts to get everyone
ready for the upcoming tax season, the agency has also released
a notice about keeping tax records.
So since this is a question that comes into our office from
time to time, here a couple of paragraphs straight from the IRS:
Generally, the IRS recommends keeping copies of tax returns
and supporting documents at least three years. Some documents should be kept up
to seven years in case a taxpayer needs to file an amended return or if
questions arise. Keep records relating to real estate up to seven years after
disposing of the property.
Health care information statements should be
kept with other tax records. Taxpayers do not need to send these forms to IRS
as proof of health coverage. The records taxpayers should keep include records
of any employer-provided coverage, premiums paid, advance payments of the
premium tax credit received and type of coverage. Taxpayers should keep these — as they do other tax
records — generally for three years after they file their tax returns.
Also in this release, the IRS put out a more urgent call for
people to keep their most recent tax returns handy as the agency tries to
institute new protocols for authenticating and protecting taxpayers’
identities. So for those of you who never keep anything, the time to change
that has arrived, as you may need to know last year’s adjusted gross income to
prove you are who you say you are.
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