Solar panel-tax return-audit update

It occurred to me last night that I’d never updated on this.  We got notice a couple weeks ago that “the audit is complete and the file closed”.  Which appears to be legalese for “ok, you passed, this time, don’t screw up again”.

For anyone reading this consider this your warning.  If you install solar panels (or other tax rebated forms of energy production) remember to keep all your files for it in the same place!

Don’t get me wrong, we mostly had saved the paperwork, repeated in multiple spots.  Part of the problem was that what the audit paperwork called a couple things and what the title on the actual forms said wasn’t quite the same, and I ended up having to call into to the auditor to make sure I had the right stuff.

The other problem was that we couldn’t find proof of how much we actually paid.  I know we got receipts, but god be dammed if I could find them!  So that meant tracking down the checks with the bank.  SHOULD have been fairly simple.  But the one bank account that we’d used, we ended up closing a year later.  So we no longer had access to the account online to just go back and pull up the checks.  It necessitated a trip to an actual branch for Husband, which is difficult on his schedule, to actually talk to someone who could check his ID and do a search.  Then we hit computer problems.  Not our computers, the bank computers.  The third and final check was paid out at the end of Sept of that year, and for some reason the bank’s system was refusing to access that month’s info.  It took several weeks, and several trips, and several phone calls, to finally get a copy of that check.

So here’s your warning!  When you pay for the panels, SAVE the RECEIPT with the rest of the paperwork.  And while you’re at it, get a copy of the canceled check(s), and/or your credit card statement showing the charge, and save that WITH the receipts.  Trust me, it’ll come in handy!

As for us, we made EXTRA copies of everything, including all the checks, and tucked those copies in with everything else.  Cause if I’m reading the tax paperwork right, the Fed’s have another 4years in which to decide to audit us too…..

2 Comments

  1. Comment by joated:

    All that paperwork! Must offset the “green” accomplishment of the solar power install. 😉