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Keep records for 3 years from the date you filed your original return or 2 years from the date you paid the tax, whichever is later, if you file a claim for credit or refund after you file your return.
How long should I keep records? The length of time you should keep a document depends on the action, expense, or event the document records. You must keep your records as long as needed to prove the income or deductions on a tax return.
Hold the returns and supporting documents for at least seven years. The IRS can randomly audit you three years after you file — or six years afterward if it thinks you skipped out on...
What Personal Documents Should You Keep and for How Long? Keep until warranty expires or can no longer return or exchange Sales Receipts (Unless needed for tax purposes and then keep for 3 years)
Consumer Reports tells you how long to keep tax records and other documents and shares easy ways to organize your post-tax paper records and computer file clutter.
After filing your tax return, organize and keep records for 3, 6, 7 or more years depending on statutes of limitations when the IRS may ask for them.
Learn how long to keep tax records, from W-2s to property documents. This guide covers retention periods for varioius tax forms and financial records.
The IRS recommends keeping returns and other tax documents for three years—or two years from when you paid the tax, whichever is later. The IRS has a statute of limitations on conducting...
You must keep records to verify certain information about your business assets. You need records to compute the annual depreciation and the gain or loss when you sell the assets. Documents for assets should show the following information: When and how you acquired the assets. Purchase price.
Basic rule: Keep tax returns and records for at least three years. The statute of limitations for the IRS to audit your return and assess taxes you owe is generally three years from the date you file your tax return.