are receipts required by the IRS for all expenses greater than $25.?

Answer 1

They say you don't need to keep receipts for items less than $25, so by default, you do need to keep them when they are over $25. It is best to keep as much as possible. Why throw it away? It is better to have too much than too little. By the way, you don't send the receipts to the IRS. You keep them in case of an audit. Some IRS auditors are more strict than others, but I always tell my clients to claim whatever they paid in legitimate expenses regardless if they have a receipt, a credit card statement, or simply a hand written note of the expense. Of course, one must make every attempt to keep receipts.

Answer 2

You should have a receipt for all items that you claim as a deduction on your tax return. You do not send the receipts in with your tax return, but need to have them on file in case of on audit.