The Tax Forum » Thanks In Advance http://thetaxforum.org Tax Information Fri, 24 Jun 2011 16:16:00 +0000 en hourly 1 http://wordpress.org/?v= Do I need to save receipts for small amounts for IRS and audit purposes? http://thetaxforum.org/1256/do-i-need-to-save-receipts-for-small-amounts-for-irs-and-audit-purposes.htm http://thetaxforum.org/1256/do-i-need-to-save-receipts-for-small-amounts-for-irs-and-audit-purposes.htm#comments Fri, 30 Jan 2009 06:12:29 +0000 Tax Blog http://thetaxforum.org/?p=1256
Donald M asked:


I have a credit card issued by the nonprofit I work for. I am expected to turn in receipts, which I get, but sometimes receipts for small things–like postage–get lost. Does the IRS really care about a missing receipt for $4.95? Is there a threshold amount for saving receipts–say, anything over $75?

Thanks, in advance, for your help with this! If you can point me to any tax code that discusses this, I will be even more grateful!

Don

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