Seldom do you think of the IRS as Johnny-on-the-spot, but Fact Sheet 2006-19 does a good job of bringing some of today’s technology to the process of safeguarding your records. You can read the entire fact sheet at http://www.irs.gov. Here we summarize the best practices to follow:

Do your banking online and keep electronic copies of your bank statements (e.g., print to a PDF document).

Scan W-2s and 1099s.

Keep records in a fire- and waterproof cabinet.

Photograph or videotape the valuables in your ... Log in to view full article.