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Tax and financial planning news from around the web: September 19 – 23, 2022

Written on Sep 21, 2022

IRS audits with no time limit and no statute of limitations 
Audits are coming, and you need to look over your shoulder for at least three years – double that if you omit more than 25% of your income. But other rules give the IRS an unlimited number of years to come after you. Careful planning and tax returns can limit exposure. 

Four financial planning 'rules' that advisors need to abandon  
Some of the best-known rules of thumb in personal finance have outlived their usefulness.