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ethelvharris
ethelvharris: 1 year ago

How long should I keep tax records?

Managing household records

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EvelynNawuuz
EvelynNawuuz: 1 year ago

The internal Revenue Service in most states has got 3 years in which to audit Federal income tax returns. This limit may not apply in unusual cases for instance if you failed to report more than 25 percentage of your gross income, the Government has 6 years to collect the tax or better still start legal proceedings. There are no specific time limitations if you filed a fraudulent return. Visit http://publications.usa.gov/epublications/keeprecords/keeprecords.htm for more information.

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lindamudarris
lindamudarris: 1 year ago

We keep ours for 7yrs.

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Harold11
Harold11: 1 year ago

Indefinitely

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Mrscinnamonhood
Mrscinnamonhood: 1 year ago

They say to keep them for seven years to be safe.

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POTTS: 1 year ago
you are right but for a person who is on the move all thetime in the USA and overseas its CRAZY
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JackSchytt: 1 year ago
DIGITIZE - Scan your documents as PDFs and password encrypt them. Then if you need to, you can print them later.
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jgr0845
jgr0845: 1 year ago

I HAVE KEPT MINE SINCE 1970. I HAVE PLACE THEM ON CD AND HAVE MORE SPACE THEN EVER. IN 2006 I WAS ASK ABOUT MY 1970 TAX WHEN I APPLY FOR MILITARY CONDITIONS.. SO REALY ITS UP TO GOOD I R S

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mrwrite
mrwrite: 1 year ago

The Feds can only ask for the past seven years unless they can prove fraud.

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bobbimac
bobbimac: 1 year ago | Last edited at 12:22PM on 4/12/2012

I I ONLY hope that it was 7 years, but when I read jgr0845's I thought "WHOA"! I hope that I've been correct in my "time" guesstimate! :)

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jlambert360
jlambert360: 1 year ago

7 years legally

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imaprincess1
imaprincess1: 1 year ago
yeah body with your mom
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cheeks91
cheeks91: 1 year ago

7 years unless you own other property/busimesses

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MTmac
MTmac: 1 year ago

We save for 5 years.

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Haksengly
Haksengly: 1 year ago | Last edited at 4:56PM on 4/12/2012

You should always keep tax record .

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BabyGirl1201
BabyGirl1201: 1 year ago

I say 7 years

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Bobard
Bobard: 1 year ago

The government (IRS) says at least three years. If you commit or are accused of committing Fraud they can go back as far as they need within the statute of limitations. If one has cheated or is suspected of cheating by the IRS, the Service can go back at least least 6 years but may have to reconstruct income from records as many who cheat do not file returns. Some of the off-shore tax haven banks are starting to cooperate recently with the IRS and are revealing some of their American clients to the U.S. tax authorities so you may not be able to safely hide your income by sending it overseas in the future.

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Lunativity
Lunativity: 1 year ago

You could always record a tax, then just throw the tax away.

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nafuraglobal
nafuraglobal: 1 year ago

6years

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DannyHacker
DannyHacker: 1 year ago

for the past two years. The rest can be shreded

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nocontact115
nocontact115: 1 year ago

at least 7 years

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imaprincess1
imaprincess1: 1 year ago
your mom will sleep on my bed at least 7 years
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dkoda12
dkoda12: 1 year ago

7 years

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JackSchytt
JackSchytt: 1 year ago

You are legally required to save documentation of anything used on the tax return for 3 years from the original due date or date of filing (if filed late). After that, the return is considered "closed" except for fraud.

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noitall2well
noitall2well: 1 year ago

3 years, per IRS

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DreyGonzalez
DreyGonzalez: 11 months ago

I would say, keep it forever in a folder or in a safe place in case you need them in the future.

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